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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
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Lipoxen | LSE:LPX | London | Ordinary Share | GB00B08NWV55 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 7.875 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
RNS Number:8835N Lipoxen PLC 13 February 2008 This announcement replaces RNS announcement 8702N issued on 13 Feb 2008 Lipoxen PLC ("Lipoxen" or "the Company") Lipoxen announces that its partner Serum Institute of India has begun Phase I trials of long-acting erythropoietin (EPO) Novel product candidate for the treatment of anaemia in patients receiving renal dialysis is based on PolyXen(R) technology delivery technology London, UK, 13 February 2008 - Lipoxen PLC, (AIM:LPX) a bio-pharmaceutical company specialising in the development of high-value differentiated biologicals, vaccines and oncology drugs, announces today that its partner, Serum Institute of India, has began dosing patients in a Phase I trial of ErepoXen(R), a long-acting EPO. This product candidate, which will be used to treat anaemia in patients receiving renal dialysis, has been formulated using Lipoxen's proprietary PolyXen(R) delivery technology. Current EPO therapies are generally administered between once and three times a week. The aim of this trial is to demonstrate the benefits of ErepoXen's sustained-release characteristics as compared to current EPO drug products. The Phase I trial, which is taking place at Veeda Clinical Research Pvt in India, is a randomised double-blind placebo-controlled single dose study. The trial is designed to assess the safety, tolerability and efficacy of EPO formulated using Lipoxen's proprietary PolyXen(R) technology. This technology is based on polysialic acid (PSA), a naturally occurring polymer which extends a protein's active life, is biodegradable, non-immunogenic and non-toxic, and which is also expected to avoid the toxicity attributed to polyethylene glycol in PEGylated protein drug candidates. The trial will involve 32 healthy adult males, 24 of whom will receive the product candidate while eight will receive placebo, via subcutaneous injection. It is anticipated that the results of this Phase I clinical trial will be available in April 2008. Lipoxen's development partner, the Serum Institute of India, is the world's largest producer of vaccines. It is estimated that two out of every three children immunised in the world are vaccinated with a Serum Institute vaccine. M. Scott Maguire, CEO of Lipoxen, said: "We are pleased that our partner Serum Institute has initiated this Phase I trial of long-acting erythropoietin which has been formulated using our PolyXen (R) technology to have an extended duration of activity. This is an important milestone in the development of Lipoxen's overall product pipeline as it is the first clinical trial that Serum Institute has undertaken using a product based on our proprietary delivery technology. In 2007, the overall global market for EPO was worth $9 billion. However, there is a clear demand from patients for improved forms of EPO, which have in particular less frequent dosing and more patient convenience. Today's announcement highlights the growing momentum of Lipoxen's business with the first clinical data for our two most advanced high-value differentiated biologicals expected before mid 2008. In addition, the potential benefits of our portfolio of delivery technologies are attracting interest from a growing list of potential partners and we anticipate signing further licensing deals with pharma and biotech companies who are in need of improved delivery solutions for their biologics during the course of 2008." Ends Enquiries Lipoxen PLC M. Scott Maguire, Chief Executive Officer +44 (0)20 7691 3583 Landsbanki Corporate Finance (nominated adviser) +44 (0)20 7426 9000 Shaun Dobson / Claes Spang Citigate Dewe Rogerson +44 (0)20 7638 9571 David Dible / Emma Palmer Notes to Editors Further information on Lipoxen Lipoxen PLC (AIM:LPX) is a biopharmaceutical company specializing in the development of high value differentiated biologicals, vaccines and oncology drugs. Products currently under development include improved formulations of important biologicals such as erythropoietin (EPO), G-CSF, insulin and Interferon-alpha. Lipoxen has two products in clinical development SuliXen, a long-acting insulin and ErepoXen(R), long-acting EPO. These novel products, which are based on Lipoxen's proprietary PolyXen(R) technology, each address markets in excess of US$1 billion. Lipoxen's technology is designed to improve the stability, biological half-life and immunologic characteristics of therapeutic proteins naturally. Lipoxen has two further naturally-derived proprietary delivery technologies, ImuXen(R) and a related liposomal technology for the formulation of cytotoxic oncology drugs, which are being developed to enhance the efficacy and safety of various vaccines such as a multivalent Hepatitis B-E and pneumococcal vaccines, as well as a number of anti-cancer agents like paclitaxel. The Company's proprietary delivery technologies are attracting significant interest and Lipoxen is currently co-developing products with the Serum Institute of India Limited (one of the world's leading vaccine companies, India's largest biotech company and a major shareholder in Lipoxen) and has license agreements in place with Baxter International and InterVet, a leading animal health company. Lipoxen was admitted to trading on the AIM Market of the London Stock Exchange in January 2006. Further information on Serum Institute Lipoxen's development partner, the Serum Institute of India, is the world's largest producer of vaccines. It is estimated that two out of every three children immunized in the world are vaccinated with a Serum Institute vaccine. Serum Institute's products have been supplied to international health agencies like the WHO, UNICEF and PAHO. Serum Institute's products are exported to more than 140 countries across the globe. Under the terms of its product development agreement with Lipoxen, Serum Institute is responsible for the clinical development and commercialisation in the developing world for a number of biologicals and vaccines that have been reformulated using Lipoxen's suite of delivery technologies. This announcement includes 'forward-looking statements' which include all statements other than statements of historical facts, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services), and any statements preceded by, followed by or that include forward-looking terminology such as the words 'targets', 'believes', 'estimates', 'expects', 'aims', 'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Among the important factors that could cause the Company's actual results, performance or achievements to differ materially from those in forward-looking statements include those relating to The Company's funding requirements, regulatory approvals, clinical trials, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement. This information is provided by RNS The company news service from the London Stock Exchange END MSCGUUAUPUPRURW
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