Ergomed plc Co-dev partnership with Allergy Therapeutics (0254Z)
December 12 2017 - 2:00AM
UK Regulatory
TIDMERGO
RNS Number : 0254Z
Ergomed plc
12 December 2017
PRESS RELEASE
Ergomed expands its co-development pipeline with a multi-product
partnership with Allergy Therapeutics for oral allergy
immunotherapies
- Ergomed to receive future tiered royalties for each product in addition to service fees
- Further contribution to service growth plus upside from sustainable drug development
- Ergomed's extensive experience in conducting trials in allergy
therapies led to new co development deal
London, UK - 12 December 2017: Ergomed plc (LSE: ERGO)
('Ergomed' or the 'Company'), a specialised pharmaceutical services
and drug development company, is pleased to announce a
multi-product, multi-study co-development partnership with Allergy
Therapeutics plc (AIM: AGY), the fully integrated specialty
pharmaceutical company specialising in allergy vaccines, to support
the commercialisation of Allergy Therapeutics' OralVac
platform.
The co-development collaboration will include clinical studies,
from Phase I to Phase III, of three OralVac products: house dust
mite; tree pollen; and grass pollen, and is scheduled to run for
seven years. The development will begin in 2018 with a Phase I
study in house dust mites.
The OralVac products are a well-established group of sublingual
immunotherapy SLIT treatments that aim to desensitise severe
allergy patients to various common allergens. The oral formulation
has proven to be acceptable in children and those who prefer to
avoid needles. These products have been available for more than two
decades in Germany and other European countries on a named patient
basis.
Both companies believe there is room for substantial growth of
the OralVac group of products, through the availability of a
complete clinical trial data package, in addition to formal
registration in new countries. Clinical trial data from this
partnership will be used to complete the German TAV
(Therapieallergene-Verordnung) programme from the Paul Ehrlich
Institute, established to allow registration of these allergy
products in Germany.
Under the terms of the agreement, Allergy Therapeutics will pay
Ergomed a fee for conducting the clinical development activities
and Ergomed will contribute in-kind to the development cost. In
return, Ergomed will receive future tiered royalties for each
product. As these products are already generating sales on a named
patient basis, the royalties will start from the completion of the
first Phase II study.
Dr Miroslav Reljanovic, Executive Vice-Chairman of Ergomed,
said: "We are excited to join in the further development of these
products which have established an important presence in the
market. Ergomed has extensive experience in conducting clinical
research in the field of allergy therapies, and so this is a
natural therapy area for our next co-development project."
Manuel Llobet, Chief Executive Officer of Allergy Therapeutics,
added: "Ergomed has an excellent track record in successfully
completing specialist studies and particular experience with
allergy products. We're pleased to be working with the team and
look forward to jointly accelerating the licencing of OralVac
products in Europe."
ENDS
Enquiries:
Ergomed plc Tel: +44 (0)
1483 503205
Dan Weng (Chief Executive Officer)
Stephen Stamp (Chief Financial
Officer)
Numis Securities Limited Tel: +44 (0)
20 7260 1000
Michael Meade / Freddie Barnfield
(Nominated Adviser)
James Black (Joint Broker)
N+1 Singer Tel: +44 (0)
20 7496 3000
Alex Price (Joint Broker)
Consilium Strategic Communications Tel: +44 (0)
- for UK enquiries 20 3709 5700
Chris Gardner / Mary-Jane ergomed@consilium-comms.com
Elliott
Ivar Milligan / Philippa Gardner
MC Services - for Continental Tel: +49 211
European enquiries 5292 5222
Anne Hennecke
About Ergomed
Ergomed provides specialist services to the pharmaceutical
industry and develops drugs both wholly-owned and through
partnerships. Ergomed's fast-growing, profitable service offering
spans all phases of clinical development and post-approval
pharmacovigilance and medical information. Drawing on more than 20
years of expertise in drug development, Ergomed is also building a
growing portfolio of drug development partnerships and programmes,
including wholly-owned proprietary products for the treatment of
surgical bleeding. For further information, visit:
http://ergomedplc.com.
About Allergy Therapeutics
Allergy Therapeutics is an international specialty
pharmaceutical group focussed on the treatment and diagnosis of
allergic disorders including immunotherapy vaccines that have the
potential to cure disease. The Group sells proprietary products and
third party products from its subsidiaries in nine major European
countries and via distribution agreements in an additional ten
countries. Its broad pipeline of products in clinical development
include vaccines for grass, tree and house dust mite, and peanut
allergy vaccine in pre-clinical development. Adjuvant systems to
boost performance of vaccines outside allergy are also in
development.
Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics
is headquartered in Worthing, UK with more than 11,000m(2) of
state-of-the-art MHRA-approved manufacturing facilities and
laboratories. The Group employs c.500 employees and is listed on
the London Stock Exchange (AIM:AGY). For more information, please
see www.allergytherapeutics.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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