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Share Name Share Symbol Market Type Share ISIN Share Description
Vela Technologies Plc LSE:VELA London Ordinary Share GB00BYZ9XC29 ORD 0.01P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.0005 2.5% 0.0205 0.019 0.022 0.0205 0.02 0.02 26,169,205 13:34:07
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 0.0 0.4 0.0 - 3

Vela Technologies PLC Update re. St George Street Capital COVID-19 trial

18/08/2022 9:53am

UK Regulatory (RNS & others)


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RNS Number : 4654W

Vela Technologies PLC

18 August 2022

18 August 2022

Vela Technologies plc

("Vela" or "the Company")

Update re. St George Street Capital Ltd

Lancet Review for ARCADIA Phase 2 Clinical Trial

The Board of Vela (AIM: VELA), an AIM-quoted investing company focused on early-stage and pre-IPO disruptive technology investments, notes that St George Street Capital Ltd ("SGSC"), has today announced the publication in Lancet eClinicalMedicine of details of the ARCADIA clinical trial which investigated AZD1656 for people with diabetes and COVID-19.

Vela holds an economic interest in the commercialisation of AZD1656, details of which were included in the announcement published by Vela on 20 October 2020.

Highlights:

   --      ARCADIA trial investigated AZD1656 for people with diabetes hospitalised with COVID-19. 

-- Patients in the AZD1656 arm were observed to have lower mortality and AZD1656 was shown to have immunomodulatory capability (as predicted).

-- The article in The Lancet, one of the world's leading peer-reviewed medical journals, can be found at https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(22)00334-0/fulltext

-- Vela notes the statement from SGSC that 'the evidence presented here suggests that specific activation of Tregs might suppress the inappropriate inflammation which is the prime cause of tissue damage in autoimmune disease .' This reinforces the mode of action will potentially work in a wide range of autoimmune diseases.

   --      SGSC is continuing to have discussions with potential partners regarding AZD1656. 

Extract from SGSC press release

St George Street is pleased to announce the publication in Lancet eClinicalMedicine of our Phase 2 clinical trial, ARCADIA, which investigated AZD1656 for people with diabetes hospitalised with COVID-19. Patients in the AZD1656 arm were observed to have lower mortality; additionally, AZD1656 was shown to have immunomodulatory capability, as predicted. The paper also details our sub-group analysis of patients considered to be at higher risk of worse COVID-19 outcomes, either with elevated IL-6 or those with low Vitamin D status. As surmised in the paper: "the evidence presented here suggests that specific activation of Tregs might suppress the inappropriate inflammation which is the prime cause of tissue damage in autoimmune disease."

St George Street is continuing to have discussions with potential partners regarding AZD1656.

The Lancet article can be found at https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(22)00334-0/fulltext

For further information, please contact:

 
 Vela Technologies plc                         Tel: +44 (0) 7421 
  Brent Fitzpatrick, Non-Executive Chairman     728875 
  James Normand, Executive Director 
 Allenby Capital Limited (Nominated Adviser)   Tel: +44 (0) 20 
                                                3328 5656 
 Nick Athanas / Piers Shimwell 
 Peterhouse Capital Limited (Broker)           Tel: +44 (0) 20 
                                                7469 0930 
 Lucy Williams / Duncan Vasey / Eran Zucker 
  / Lauren Riley 
 Novus Communications (PR and IR Adviser)      Tel: +44 (0) 20 
                                                7448 9839 
 Alan Green / Jacqueline Briscoe 
 

About Vela Technologies

Vela Technologies plc (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. Vela's investee companies have either developed ways of utilising technology or are developing technology with a view to disrupting the businesses or sector in which they operate. Vela Technologies will also invest in already-listed companies where valuations offer additional opportunities.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

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August 18, 2022 04:53 ET (08:53 GMT)

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