THE DIRECTORS OF IGRAINE PLC CONSIDER
THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF
ARTICLE 7 OF REGULATION (EU) NO. 594/2014 OF THE EUROPEAN
PARLIAMENT AND THE COUNCIL OF 16 APRIL
2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS
DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. BY PUBLICATION
OF THIS ANNOUNCEMENT, THE INFORMATION SET OUT WITHIN IT IS DEEMED
NOW TO BE IN THE PUBLIC DOMAIN.
Igraine Plc
AQSE: KING
(“Igraine” or the “Company”)
Excalibur
Medicines Ltd (“EML”) Update: ARCADIA Trial Results
Particulars of the RIS Announcement
1. EML Investment Interest
2. ARCADIA Trial Results Update
3. Executive Director Statement, Martin Walton
1. EML Investment Interest
Igraine plc secured a 2% equity interest in Excalibur Medicines
Ltd (“EML”) in June 2021. Excalibur
Medicines Ltd (“EML”) has secured exclusive rights to and owns the
patents on a drug, AZD1656, which is being developed as a potential
therapeutic for people with diabetes suffering from COVID-19. The
ARCADIA trial which took place across 31 sites was completed in
July this year.
As there are very few new therapeutics in development for
COVID-19 and associated virally transmitted diseases (most research
is in combining existing treatments) this has the potential to be
highly attractive to big pharma and biotech buyers. Further, if the
trials are successful, it is likely the drug will be effective for
the general population in COVID -19 and in other respiratory
diseases.
It is the intention of EML to seek a sale of the drug, a license
or partnership deal as soon as possible after the complete data is
published.
2. ARCADIA Trial Results Update
Consistent with the announcement the company made on the
18th August 2021, (see
link to press release here) the Directors of
Igraine plc have been informed by EML that the clinical team at SGS
are preparing to provide all stakeholders [of which Igraine are
a shareholder of EML] with the preliminary results of the
ARCADIA trial.
Once the Board of Igraine receives the preliminary results
(scheduled for circulation this week), the company will publish a
market release to this effect.
The preliminary findings relate primarily, to the safety and
efficacy of AZD1656 in the patients receiving the drug in the
trial, as compared to the patients receiving the placebo. The drug
must be shown to be safe (“tolerated safely”) in patients or there
can be no further development. Efficacy relates to the
effectiveness of the drug in treating the symptoms of the patients,
and the trial seeks to establish this by analysing a number of
different effects to establish which patients with which particular
symptoms, benefit. The preliminary findings give indications
of this; there is however additional laboratory analysis to do
which further clarifies this, drilling down into great detail; this
takes an additional few weeks.
Post-Receipt of Preliminary Findings:
The preliminary findings should provide sufficient evidence to
allow EML and the clinical team at SGS to evaluate the likely
commercial channels for the next stage of development for
AZD1656. This could include outright sale to, or partnerships
with large pharma or biotech companies, raising additional external
financing to fund future development, discussions with regulators,
and more.
These will occur while the final definitive report is completed,
which includes specific detail such as immunophenotyping data on
each patient treated
3. Executive Director, Martin Walton commented,
“I am pleased to announce an update in respect of the ARCADIA
Trial as the preliminary results of the trial are evaluated in
readiness for publication. The company looks forward to providing a
further news release later this week upon receiving all relevant
stakeholder clearances.”
The Directors of the Company, who have issued this RIS
announcement after due and careful enquiry, accept responsibility
for its content.
Enquiries
Company:
Martin Walton (Executive
Director)
Steve Winfield (Executive
Director)
info@igraineplc.com
AQSE Growth Market Corporate
Adviser
Peterhouse Capital Limited
Guy Miller / Allie Feuerlein
Tel: +44 (0) 207 469 0930
Media inquiries:
Ramsay Smith, Media House
International
ramsay@mediahouse.co.uk: +44 (0) 7788414856