Synairgen plc Update on LOXL2 programme with Pharmaxis (3723N)

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RNS Number : 3723N

Synairgen plc

17 January 2019

Press release

Synairgen plc

('Synairgen' or the 'Company')

Synairgen announces positive progress on LOXL2 programme by Pharmaxis

Pharmaxis reports LOXL2 programme now Phase II ready following completion of 13 week toxicity studies

Pharmaxis ready to progress commercial partnering discussions

Southampton, UK - 17 January 2019: Synairgen (LSE: SNG), the respiratory drug discovery and development company, is pleased to note that Pharmaxis has reported receipt of all data for the LOXL2 inhibitor candidates in three-month toxicity studies. These data complete the overall package required for Pharmaxis' partnering discussions.

In November 2018 Pharmaxis announced the successful completion of the Phase I single and multiple ascending dose trials of their two LOXL2 inhibitor compounds. Data from the Phase I trials support once daily oral dosing and demonstrated best-in-class inhibition of the LOXL2 enzyme. Together with preclinical data in models of fibrosis, this package shows the potential of these compounds to target diseases associated with LOXL2 such as Non--alcoholic Steatohepatitis (NASH) and idiopathic pulmonary fibrosis (IPF). Full details of the Pharmaxis announcement can be found at www.pharmaxis.com.au/assets/Documents/pdf/02019/ASX/2019-01-16-LOXL2-phase-2-ready.pdf

Richard Marsden, Chief Executive Officer of Synairgen, said: "The successful completion of the longer term toxicology studies completes the data set. Pharmaxis is now conducting a final series of scientific briefings to potential partners. In accordance with the amended collaboration agreement with Pharmaxis, Synairgen will receive circa 17% of any future net partnering proceeds from all fibrotic indications for the LOXL2 inhibitors. We are really pleased about this positive development and look forward to further updates from Pharmaxis."

- Ends -

For further enquiries, please contact:

Synairgen plc

Richard Marsden, Chief Executive Officer

John Ward, Finance Director

Tel: + 44 (0) 23 8051 2800

finnCap

Geoff Nash, Max Bullen-Smith (Corporate Finance)

Alice Lane (Corporate Broking)

Tel: + 44 (0) 20 7220 0500

Consilium Strategic Communications (Financial Media and Investor

Relations)

Mary-Jane Elliott / Sue Stuart / Olivia Manser

[e-mail]

Tel: [phone]

Notes for Editors

About Synairgen

Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease. Leveraging its scientific and clinical facilities at Southampton General Hospital, the Company uses in vitro and ex vivo models to progress opportunities into

clinical development. The BioBank of human samples is used in these models to increase confidence in the likelihood of successful drug development.

Synairgen is currently running a two-part Phase II trial evaluating SNG001, the Company's wholly-owned inhaled interferon beta (IFN-beta) therapeutic candidate. The Phase II trial, called SG015, has been designed to assess the safety of SNG001

in COPD patients and its clinical benefit in these patients when they have a cold or flu infection, a major driver of COPD exacerbations.

Core to Synairgen's business strategy is the realisation of value via licensing transactions. In August 2015 the Company entered into a collaboration with Pharmaxis to develop an oral LOXL2 inhibitor to reduce fibrosis in patients with idiopathic pulmonary fibrosis (IPF). In December 2017 the collaboration agreement was amended as Pharmaxis took on full responsibility for the programme, with Synairgen receiving a GBP5 million upfront payment and circa 17% of any future net partnering proceeds from all fibrotic indications.

Synairgen is quoted on AIM (LSE: SNG). For more information about Synairgen,

please see www.synairgen.com

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January 17, 2019 03:31 ET (08:31 GMT)