Malin Corporation PLC Mycovia announces partnerships for VT-1161 (4406R)
October 29 2019 - 3:18AM
UK Regulatory
TIDM0Y71
RNS Number : 4406R
Malin Corporation PLC
29 October 2019
Malin Corporation plc
Mycovia Pharmaceuticals announces partnerships to commercialise
and manufacture VT-1161
Dublin-Ireland, 29 October 2019: Malin Corporation plc.
(Euronext Growth Dublin:MLC) ("Malin"), a company investing in
highly innovative life sciences companies, is pleased to note that
Mycovia Pharmaceuticals ("Mycovia"), a company in which Malin's
Priority Asset, Viamet Pharmaceuticals ("Viamet"), has an economic
interest, recently announced a strategic partnership with Gedeon
Richter plc. for the commercialisation and manufacture of VT-1161
for recurrent vulvovaginal candidiasis ("RVVC") in Europe, Latin
America, Australia, Russia and other CIS countries. This agreement
follows the announcement by Mycovia earlier this year of a
strategic partnership with Jiangsu Hengrui Medicine to develop and
commercialise VT-1161 in China for the treatment or prevention of a
range of fungal conditions.
Under the terms of both agreements, Mycovia is eligible to
receive milestone payments related to clinical, regulatory and
commercial success of VT-1161.
Mycovia acquired Viamet's lead anti-fungal drug, VT-1161 in 2018
but Viamet retains a significant economic interest by means of its
share of potential milestone payments and sales royalties through
clinical and commercial progression. Malin, alongside other
shareholders in Viamet, will benefit from both these recent deals
Mycovia has signed, if the molecule is clinically and commercially
successful.
Mycovia is currently conducting global Phase 3 trials of VT-1161
in women with RVVC in the US, EU and Japan. Phase 2b studies have
shown VT-1161 to have strong safety and efficacy profiles in RVVC
patients, with as low as zero percent recurrence rates through 48
weeks, and RVVC is currently an unmet need in women's health.
Malin owns approximately 15% of Viamet and carried its
investment in Viamet at a fair value estimate of EUR79.5 million at
30 June 2019 under International Private Equity and Venture Capital
Valuation guidelines.
A copy of Mycovia's press release is available to view here.
ENDS
About Malin Corporation plc
Malin (Euronext Growth Dublin:MLC) is a company investing in
highly innovative life sciences companies. Its purpose is to create
shareholder value through the application of long-term capital and
operational and strategic expertise to a diverse range of global
healthcare businesses. Malin has a focus on innovative businesses
underpinned by exceptional science and works with its investee
companies, providing strategic and financial support to enable them
to reach their value potential. Malin is headquartered and
domiciled in Ireland and listed on the Euronext Growth Dublin. For
more information visit www.malinplc.com
About Mycovia
Mycovia Pharmaceuticals has a passion for developing
breakthrough therapies in areas of unmet medical need, with an
initial focus in women's health. Its lead product candidate,
VT-1161, is a novel, oral therapy for RVVC that is designed to have
greater selectivity, fewer side effects and improved efficacy than
current treatment options. VT-1161 received FDA Qualified
Infectious Disease Product and Fast-Track designations to support
its potential as the first FDA-approved treatment for RVVC. Mycovia
also recognises that there is tremendous potential for its oral
fungal inhibitors to treat a range of multi-drug resistant fungal
pathogens. For more information, please visit www.mycovia.com
For further information please contact:
Malin
Jessica Bergin, Investor Relations & External Reporting
Tel: +353 (0)1 901 5700
investorrelations@malinplc.com
Davy Corporate Finance (Euronext Growth Adviser & Joint
Broker)
Brian Garrahy / Daragh O'Reilly
Tel: +353 1 679 6363
Liberum (Joint Broker)
Bidhi Bhoma / Euan Brown
Tel: +44 (0) 20 3100 2000
Consilium Strategic Communications
Mary-Jane Elliott / Chris Welsh
Tel: +44 (0)20 3709 5700
malin@consilium-comms.com
Powerscourt (Irish media enquiries)
Jack Hickey
Tel: +353 83 448 8339
malin@powerscourt-group.com
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END
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