Igraine Plc Update: ARCADIA Trial Results

 
TIDMKING 
 
THE DIRECTORS OF IGRAINE PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE 
INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 594/2014 OF 
THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT 
FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 
2018. BY PUBLICATION OF THIS ANNOUNCEMENT, THE INFORMATION SET OUT WITHIN IT IS 
DEEMED NOW TO BE IN THE PUBLIC DOMAIN. 
 
                                  Igraine Plc 
                                  AQSE: KING 
                         ("Igraine" or the "Company") 
 
         Excalibur Medicines Ltd ("EML") Update: ARCADIA Trial Results 
 
Particulars of the RIS Announcement 
 
1.    EML Investment Interest 
 
2.    ARCADIA Trial Results Update 
 
3.    Executive Director Statement, Martin Walton 
 
1.    EML Investment Interest 
 
Igraine plc secured a 2% equity interest in Excalibur Medicines Ltd ("EML") in 
June 2021. Excalibur Medicines Ltd ("EML") has secured exclusive rights to and 
owns the patents on a drug, AZD1656, which is being developed as a potential 
therapeutic for people with diabetes suffering from COVID-19. The ARCADIA trial 
which took place across 31 sites was completed in July this year. 
 
As there are very few new therapeutics in development for COVID-19 and 
associated virally transmitted diseases (most research is in combining existing 
treatments) this has the potential to be highly attractive to big pharma and 
biotech buyers. Further, if the trials are successful, it is likely the drug 
will be effective for the general population in COVID -19 and in other 
respiratory diseases. 
 
It is the intention of EML to seek a sale of the drug, a license or partnership 
deal as soon as possible after the complete data is published. 
 
2.    ARCADIA Trial Results Update 
 
Consistent with the announcement the company made on the 18th August 2021, (see 
link to press release here) the Directors of Igraine plc have been informed by 
EML that the clinical team at SGS are preparing to provide all stakeholders [of 
which Igraine are a shareholder of EML] with the preliminary results of the 
ARCADIA trial. 
 
Once the Board of Igraine receives the preliminary results (scheduled for 
circulation this week), the company will publish a market release to this 
effect. 
 
The preliminary findings relate primarily, to the safety and efficacy of 
AZD1656 in the patients receiving the drug in the trial, as compared to the 
patients receiving the placebo. The drug must be shown to be safe ("tolerated 
safely") in patients or there can be no further development. Efficacy relates 
to the effectiveness of the drug in treating the symptoms of the patients, and 
the trial seeks to establish this by analysing a number of different effects to 
establish which patients with which particular symptoms, benefit.  The 
preliminary findings give indications of this; there is however additional 
laboratory analysis to do which further clarifies this, drilling down into 
great detail; this takes an additional few weeks. 
 
Post-Receipt of Preliminary Findings: 
 
The preliminary findings should provide sufficient evidence to allow EML and 
the clinical team at SGS to evaluate the likely commercial channels for the 
next stage of development for AZD1656.  This could include outright sale to, or 
partnerships with large pharma or biotech companies, raising additional 
external financing to fund future development, discussions with regulators, and 
more. 
 
These will occur while the final definitive report is completed, which includes 
specific detail such as immunophenotyping data on each patient treated 
 
3.    Executive Director, Martin Walton commented, 
 
"I am pleased to announce an update in respect of the ARCADIA Trial as the 
preliminary results of the trial are evaluated in readiness for publication. 
The company looks forward to providing a further news release later this week 
upon receiving all relevant stakeholder clearances." 
 
The Directors of the Company, who have issued this RIS announcement after due 
and careful enquiry, accept responsibility for its content. 
 
Enquiries 
 
Company: 
Martin Walton (Executive Director) 
Steve Winfield (Executive Director) 
[e-mail] 
 
AQSE Growth Market Corporate Adviser 
 
Peterhouse Capital Limited 
Guy Miller / Allie Feuerlein 
Tel: [phone] 
 
Media inquiries: 
 
Ramsay Smith, Media House International 
[e-mail]: [phone] 
 
 
 
END 
 
 

(END) Dow Jones Newswires

September 06, 2021 04:02 ET (08:02 GMT)