TIDMIVO
Imperial Innovations Group plc
25 November 2016
RNS Reach
28 November 2016
Imperial Innovations Group plc
Portfolio company TopiVert receives IND approval for TOP1630 in
the treatment of dry eye syndrome
Imperial Innovations Group plc (AIM: IVO, 'the Group',
'Innovations') notes that portfolio company TopiVert Pharma Ltd
('TopiVert' or the 'Company') has today announced that its
Investigational New Drug (IND) application for the evaluation of
TOP1630 ophthalmic solution as a treatment of patients with dry eye
syndrome (DES) has been approved by the US Food and Drug
Administration (FDA).
TopiVert is a clinical-stage biotechnology company developing
narrow spectrum kinase inhibitors (NSKIs) as novel, locally-acting
medicines for the treatment of chronic inflammatory diseases.
Approval of this IND will allow TOP1630 to enter the clinic in the
US in a Phase I/IIa proof-of-concept study in DES. TOP1630 will be
TopiVert's second compound to enter the clinic, following TOP1288,
which has successfully completed Phase I evaluation and last month
started a Phase IIa proof-of-concept study in patients with
ulcerative colitis (UC).
DES is a common inflammatory disorder of the front of the eye.
Currently available anti-inflammatory treatments have limited
efficacy and often display side-effects that include burning and
stinging in the short-term or lead to further complications with
prolonged use.
TOP1630 has demonstrated an excellent activity profile in in
vitro and in vivo pre-clinical inflammatory models where it was
shown to be potent and have a fast onset of action. When
administered as eye drops, TOP1630 is taken up and retained by
target inflammatory cells in the cornea but with minimal systemic
absorption, making it an ideal topical eye therapy with the
potential to provide rapid symptomatic relief, together with
long-term efficacy.
Maina Bhaman, Director of Healthcare Ventures at Imperial
Innovations, said:
"We are delighted by the progress that TopiVert is making, both
in its ulcerative colitis trials, but also with this second
programme in dry eye syndrome.
"There is major unmet medical need for an effective and
well-tolerated therapy for this debilitating disorder. We are
looking forward to seeing the results from this study in the second
half of 2017, which is around the same time as proof-of-concept
data for TOP1288 in ulcerative colitis will be published."
As at 31 July 2016, the Group had a 29.5% interest in the issued
share capital of the TopiVert with such interest having a net fair
value of GBP12.6 million.
For further information contact:
Imperial Innovations Group plc 020 3053 8834
Russ Cumming, Group Chief Executive
Jon Davies, Director of Communications
Instinctif Partners 020 7457 2020
Adrian Duffield/Melanie Toyne-Sewell/Chantal
Woolcock
J.P. Morgan Cazenove (Nominated Adviser) 020 7742 4000
Michael Wentworth-Stanley/Alec Pratt
Cenkos Securities 020 7397 8900
Elizabeth Bowman/Steve Cox
About Imperial Innovations - www.imperialinnovations.co.uk
Imperial Innovations Group plc ("Innovations") creates, builds
and invests in pioneering technology companies and licensing
opportunities developed from outstanding scientific research from
the 'Golden Triangle', the geographical region broadly bounded by
London, Cambridge and Oxford.
This area has an unrivalled cluster of outstanding academic
research and technology businesses, and is home to four of the
world's top 10 universities, as well as leading research
institutions, the cream of the UK's science and technology
businesses and many of its leading investors.
Innovations supports scientists and entrepreneurs in the
commercialisation of their ideas, through the licensing of
intellectual property, by leading the formation of new companies,
by recruiting high-calibre management teams and by providing
investment and encouraging co-investment. Innovations remains an
active investor over the life of its portfolio companies, with the
majority of Innovations' investment going into businesses in which
it is already a shareholder.
Since becoming a public company in 2006, Innovations has raised
more than GBP440 million of equity from investors, which has
enabled it to invest in some of the most exciting spin-outs to come
out of UK academic research. In addition, the Group has agreed
GBP80.0 million in loan facilities from the European Investment
Bank (EIB).
Between Innovations' admission to AIM (August 2006) and 31 July
2016, Innovations has invested a total of GBP306.7 million across
its portfolio companies, which have raised collectively investment
of GBP1.5 billion.
About TopiVert - www.topivert.com
TopiVert is a clinical-stage biotechnology company developing
narrow spectrum kinase inhibitors as novel, locally-acting
medicines for the treatment of chronic inflammatory diseases of the
gastrointestinal tract and eye. The Company's most advanced drug
candidate, TOP1288 for the treatment of ulcerative colitis, is
currently in a Phase IIa proof of concept study which is due to
report in the second half of 2017. TopiVert also expects to start
the clinical development of TOP1630, its candidate for dry eye
disease (DED), in early 2017. Current therapies for these
debilitating diseases provide inadequate long-term control in a
high proportion of patients and considerable unmet medical need
remains. The Company commenced operations in early 2012 and its
investors include Imperial Innovations, SV Life Sciences, NeoMed
and Johnson & Johnson Innovation-JJDC, Inc.
About Narrow Spectrum Kinase Inhibitors (NSKIs)
NSKIs are novel small molecules characterised by relatively
broad, potent anti-inflammatory activity and only minimal systemic
exposure. Specifically, NSKIs are potent inhibitors of a select
range of pivotal kinases involved in inflammatory cascades of both
innate and adaptive immunities. Simultaneous targeting of multiple
inflammatory components leads to a synergistic activity profile
with broad anti-inflammatory effects. The NSKIs are designed to
have low systemic bioavailabilities, to reduce their exposure to
many of the body's healthy tissues, thereby enhancing their safety
and tolerability profiles. Together, these attributes make NSKIs
ideal treatment candidates for chronic inflammatory diseases where
long term therapy demands a sustained effect accompanied by
excellent safety and tolerability.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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