Primary Endpoint Not Met in Phase IIb rEV131 Trial in Allergic Rhinitis
Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novel products for the treatment of allergic, inflammatory and autoimmune diseases, announces that no significant differences were observed between rEV131 and placebo in the Phase IIb trial in allergic rhinitis and the primary endpoint was therefore not met.
Further clinical results with rEV131 from a second unrelated indication, inflammation following cataract surgery, are anticipated early next year. Once these clinical results are received the Company will review its strategy for rEV131. This will be presented at the time of the preliminary results on 27 February 2007.
Mark Carnegie Brown, Chief Executive of Evolutec, said:
“This is tremendously disappointing for Evolutec and its shareholders. We will review our intended programmes with rEV131 once the post-cataract results are received early next year and in the interim will continue to progress rEV576.â€
Enquiries:
Evolutec 0118 922 4480
Mark Carnegie Brown, Chief Executive Officer
Nicholas Badman, Chief Financial Officer
www.evolutec.co.uk
Financial Dynamics 020 7831 3113
David Yates
Ben Brewerton
About Evolutec
Evolutec, which is based in Reading, UK, is a clinical stage biopharmaceutical company with a focus on allergy, inflammation and auto-immune diseases.
rEV576, the Company’s second product development candidate is a complement inhibitor which has demonstrated preclinical activity against the autoimmune diseases myasthenia gravis and Guillain-Barré Syndrome, asthma and acute myocardial infarction (“AMIâ€) (heart attack). Evolutec has established a research collaboration with Case Western Reserve University, Cleveland, Ohio, to undertake further preclinical work with rEV576 in myasthenia gravis. The Company expects to commence clinical trials with rEV576 in 2007.
The rights to Evolutec’s vaccine technology for animals are partnered with Merial. Merial is currently undertaking work in tick-borne diseases.
Evolutec is listed on the AIM market of the London Stock Exchange and develops therapeutics originally isolated from the saliva of ticks. The tick remains undetected by its hosts, including humans, by injecting an array of molecules into the skin that suppresses host immunity. These stealth molecules have undergone millions of years of natural evolution to select a promising efficacy, potency and safety profile. Evolutec employs the tick's evolutionary stealth technology to offer the potential of treating human diseases.