XF-73 Nasal final Phase 3 development plans

RNS Number : 8100I

Destiny Pharma PLC

07 December 2022

 

Destiny Pharma plc

("Destiny Pharma" or the "Company")

Destiny Pharma announces finalisation of its Phase 3 development plans for XF-73 Nasal  

Targeting peak sales potential of $1 billion in the major markets

Brighton, United Kingdom - 07 December 2022 - Destiny Pharma plc (AIM: DEST), a clinical stage innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections, is pleased to announce that it has now finalised plans for its Phase 3 studies for its late-stage clinical asset, XF-73 Nasal.

Highlights

· Discussions held with US and EU Regulators and Clinical Key Opinion Leaders

· Proposing two Phase 3 studies in two major surgery types to provide a broad surgery label for XF-73 Nasal

· Phase 3 programme will deliver an approvable data package for both US and EU authorities.

· XF-73 Nasal targeting peak sales potential of $1 billion in its major target markets

· Phase 3 patient recruitment could start in 2024 subject to completing a XF-73 Nasal partnering deal in 2023

XF-73 Nasal is the lead drug candidate developed from Destiny Pharma's XF platform and it is initially being developed for the prevention of post-surgical staphylococcal infections, such as methicillin-resistant Staphylococcus aureus (MRSA), which can cause significant complications and increased healthcare costs in the hospital setting.

The aim of the announced Phase 3 clinical programme is to deliver comprehensive clinical trial data demonstrating that nasal decolonisation using XF-73 Nasal, alongside "standard of care", reduces the incidence of post -surgical infections in patients. This meets the requirements of both the US and EU regulators - the FDA and EMA. 

After a detailed review, the Company has decided that the Phase 3 programme should consist of two Phase 3 studies including patients in two well-defined surgery models. One study will be in breast surgery as a model for general surgery and the other will be in expedited orthopedic surgery as a model of orthopedic surgery.

This Phase 3 programme is expected to include up to 2,000 patients and deliver a comprehensive data set supporting a clinical endpoint in Surgical Site Infection ("SSI") reduction that is clinically and statistically significant. Successful clinical studies will therefore provide Destiny Pharma with a broad surgery label for its XF-73 Nasal gel thereby expanding product sales targets and maximizing the commercial opportunity. Post-surgical infections create a significant healthcare burden on hospitals and healthcare systems costing $10 billion per year in the US.  A single MRSA post-surgical infection costs over $160,000 to treat and adds 15 days onto a hospital stay.

In parallel, Destiny Pharma is considering two additional indications for XF-73 Nasal in oncology patients and in community acquired infections. These extra Phase studies would provide supportive data and life cycle management opportunities for XF-73.  

Having clarified the Phase 3 study designs, the Company is now expanding its partnering activities on XF-73 Nasal with the aim of securing a deal in 2023.

Dr. Yuri Martina, Chief Medical Officer of Destiny Pharma, said: "Having finalized our Phase 3 strategy for our primary indication of SSI prevention, we are ready for the next steps in executing our well-defined and validated strategy. I am excited to see this compound approaching its final clinical trials and move toward market approval. If successful, XF-73 Nasal will deliver a much needed, novel treatment to help prevent surgical site infections through nasal decolonisation, which is best practice in hospitals across the world and an important unmet medical need for certain patient populations and surgeries."

Neil Clark, Chief Executive Officer of Destiny Pharma, added: "There is a significant, billion-dollar, potential global commercial opportunity for XF-73 Nasal gel to help prevent hospital infections and to effectively decolonise patients undergoing a wide range of medical treatments. In line with our strategy for 2022, the clinical team has completed an extensive review, spoken with key regulators and finalized our Phase 3 development plans for XF-73 Nasal. While we gear up for the next steps, we are actively seeking a partner to join us in executing the Phase 3 Development plans and lead the commercialization of this exciting new medicine."

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
[phone]
[e-mail]

Optimum Strategic Communications 
Mary Clark / Nick Bastin / Eleanor Cooper
[phone]
[e-mail]

finnCap Ltd (Nominated Advisor and Joint Broker)
Geoff Nash / George Dollemore, Corporate Finance
Alice Lane / Nigel Birks / Harriet Ward, ECM
[phone]

Shore Capital (Joint Broker)

Daniel Bush / James Thomas / Lucy Bowden

[phone]

MC Services AG
Anne Hennecke / Andreas Burckhardt
[phone]

Stern IR - US

Janhavi Mohite

[phone]

[e-mail]

About Destiny Pharma

Destiny Pharma is a clinical stage, innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections. Its pipeline has novel microbiome-based biotherapeutics and XF drug clinical assets including NTCD-M3, a Phase 3 ready treatment for the prevention of C. difficile infection (CDI) recurrence which is the leading cause of hospital acquired infection in the US and also XF-73 nasal gel, which has recently completed a positive Phase 2b clinical trial targeting the prevention of post-surgical staphylococcal hospital infections including MRSA. It is also co-developing SPOR-COV^TM, a novel, biotherapeutic product for the prevention of COVID-19 and other viral respiratory infections and has earlier grant funded XF drug research projects.

For further information on the company, please visit www.destinypharma.com

Forward looking statements

Certain information contained in this announcement, including any information as to the Group's strategy, plans or future financial or operating performance, constitutes "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "anticipates", "projects", "expects", "intends", "aims", "plans", "predicts", "may", "will", "seeks" "could" "targets" "assumes" "positioned" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors concerning, among other things, the Group's results of operations, financial condition, prospects, growth, strategies and the industries in which the Group operates. The directors of the company believe that the expectations reflected in these statements are reasonable but may be affected by a number of variables which could cause actual results or trends to differ materially. Each forward-looking statement speaks only as of the date of the particular statement. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future or are beyond the Group's control. Forward-looking statements are not guarantees of future performance. Even if the Group's actual results of operations, financial condition and the development of the industries in which the Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods.

 

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