We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
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 |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0933Q Lipoxen PLC 14 March 2008 For Immediate Release Lipoxen PLC ("Lipoxen" or "the Company") Lipoxen Completes Technology Transfer for Sustained-Release Insulin to Intervet, a leading Animal Health Company - Lipoxen to receive milestone payment from Intervet - London, UK, 14th March 2008 - Lipoxen PLC (AIM: LPX) announces today that it has completed the technology transfer of a sustained-release insulin for animal use to Intervet, part of Schering-Plough Corporation. As a result, Lipoxen will receive a milestone payment of Euro100,000. This payment has been made under Lipoxen's agreement with Intervet, which covers the development of a sustained-release insulin for the global veterinary health market. The agreement also provides for further clinical, regulatory and sales milestone payments to Lipoxen as well as royalties on future product sales. Lipoxen and Intervet signed their agreement to develop a sustained release insulin product for the veterinary market in September 2007. This sustained-release insulin product is based on Lipoxen's PolyXen(R) drug delivery technology. This technology has been developed to improve the pharmacokinetic profile of protein drugs, such as insulin, by extending their therapeutic half life, thereby reducing the frequency of administration. PolyXen(R) is based on linking the therapeutic proteins, or peptides, of interest to the naturally occurring polymer polysialic acid. It improves the stability and the therapeutic half-life of protein drugs and improves their solubility and immunological characteristics, while maintaining biological activity and minimizing toxicity. Scott Maguire, CEO of Lipoxen, said: "We are delighted that we have achieved this first important milestone in our agreement with Intervet. As part of this four- step technology transfer, we have shown that the sustained-release insulin product, developed based on our PolyXen(R) technology, works consistently to produce sustained insulin activity in the target animal species". He added: "The achievement of this Intervet technology transfer milestone with sustained insulin, gives me confidence that we should be able to demonstrate similar benefits in humans. We are currently conducting an exploratory Phase I study with our own human sustained-release insulin, SuliXen, in comparison to Sanofi Aventis' Lantus, which achieved sales in excess of Euro2bn in 2007, and we expect to report the results of this study in the second quarter of 2008." 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 human 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. 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 RESJJMPTMMBBBBP
1 Year Lipoxen Chart |
1 Month Lipoxen Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions