Destiny Pharma PLC Update on the development of XF drug formulations

TIDMDEST

Destiny Pharma PLC

20 January 2020

Destiny Pharma plc

("Destiny Pharma" or "the Company")

Positive update on the development of new XF--platform drug formulations

Collaboration with MedPharm Ltd. delivers data profiling new XF--platform drug formulations as potential treatments for dermal and ocular infections

New formulations support a growing pipeline alongside lead drug asset, XF-73, currently in Phase 2b development with data anticipated in mid-2020

Brighton, United Kingdom - 20 January 2020 - Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel, hospital infection prevention treatments that address the global challenge of antimicrobial resistance (AMR), announces the completion of the initial phase of its project with MedPharm to develop new topical formulations of the Company's novel XF--platform drugs.

Further to forming the collaboration with MedPharm, as announced on 27 March 2019, the project has identified a range of new, stable XF formulations with promising drug release profiles and scope for delivery of XF drugs (including clinical stage XF-73, XF-70 and DPD-207 compounds) designed to treat dermal and ocular infections. These formulations will form the basis of XF drug delivery for Destiny Pharma's pre-clinical and clinical programmes and treatments for both acute and chronic infections. Selected formulations will also be incorporated into ongoing grant funded projects including the Company's UK-China AMR, Innovate UK grant funded collaboration, as announced on 25 January 2019.

Neil Clark, CEO of Destiny Pharma, commented:

"We are pleased to announce positive progress made during 2019 to develop new formulations of XF drugs from our novel antimicrobial XF--platform. There is an unmet medical need for novel anti-infectives that address dermal and ocular infections with a significantly reduced potential for generating antimicrobial resistance. We look forward to continuing to work with MedPharm to support the expansion of our pipeline as we take select formulations into our ongoing pre--clinical and clinical studies. Our lead drug candidate from the XF-platform, XF--73 nasal gel, for the prevention of post--surgical infections, is currently in Phase 2b development with data expected in mid-2020."

Eugene Ciolfi, CEO of MedPharm, commented:

"MedPharm's rigorous development methodology and novel in vitro performance testing capabilities have supported the success of this project. We are delighted to be able to continue our collaboration with Destiny Pharma to advance and broaden its product pipeline and address this unmet medical need."

MedPharm is a world leading contract provider of topical and transdermal product design and formulation development services using sophisticated in vitro models to de--risk development programmes.

For further information, please contact:

Destiny Pharma plc

Neil Clark, CEO

Shaun Claydon, CFO

[e-mail]

[phone]

FTI Consulting

Simon Conway / Victoria Foster Mitchell

[e-mail]

[phone]

finnCap Ltd (Nominated Advisor Joint Broker)

Geoff Nash / Kate Bannatyne, Corporate Finance

Alice Lane, Corporate Broking

[phone]

WG Partners (Joint Broker)

Nigel Barnes / Claes Spång / Nigel Birks

[phone]

About Destiny Pharma

Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development and commercialisation of novel medicines from its XF Platform that represent a new approach to the prevention and treatment of infectious disease. The company's lead programme is undergoing a Phase 2b clinical trial and is targeting the prevention of post-surgical hospital infections including MRSA. The XF drug candidates are being developed for the prevention and treatment of life-threatening infections caused by antibiotic-resistant bacteria, often referred to as "superbugs". Tackling antimicrobial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

About MedPharm

MedPharm is the world's leading contract provider of topical and transdermal product design and formulation development services. MedPharm is experts at reducing risk and accelerating development times for generic and proprietary pharmaceutical customers through their unique, cost-effective and industry-leading performance testing models. Well established as the global leaders in dermatology, nail, mucosal membrane, and transdermal product development, MedPharm can also offer innovative solutions for ophthalmic and airway preparations recognised for their scientific rigour by regulators and investors. MedPharm has fully established Centers of Excellence in the USA and the UK. For further information, please visit https://www.medpharm.com

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January 20, 2020 02:00 ET (07:00 GMT)