Istesso announces positive outcome from P1 study

RNS Number : 2266P

IP Group PLC

30 August 2017

 

FOR RELEASE ON

30 August 2017

IP Group plc - Istesso announces positive outcome from patient cohort in Phase 1 study of MBS2320

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is pleased to note that Istesso Limited (formerly Modern Biosciences plc) has announced new data from a cohort of patients dosed as part of a Phase 1 study of MBS2320, its investigational drug for the treatment of rheumatoid arthritis ("RA").

MBS2320 was safe and well-tolerated in these patients, and showed no interaction with background therapy. In addition, positive trends consistent with MBS2320's mode of action were observed in biomarkers of inflammation and bone metabolism.

Dr Sam Williams, CEO of Istesso and Head of Biotech at IP Group, said: "These positive Phase 1 data from patients are very encouraging. We look forward to the results from our ongoing Phase 2a study for MBS2320 late next year and progress with Istesso's other pipeline products which, like MBS2320, reprogramme metabolism to treat autoimmune diseases such as multiple sclerosis, psoriasis and ulcerative colitis."

MBS2320 is a first-in-class metabolic reprogramming agent for the treatment of RA and is distinguished from existing RA treatments by its dual mode-of-action which directly targets both inflammation and bone degradation. As previously announced by Istesso, MBS2320 has already demonstrated good safety and tolerability and predictable pharmacokinetics in healthy volunteers as part of the Phase 1 study. A cohort of eight RA patients was included in the study to evaluate the pharmacokinetics of MBS2320 in patients taking methotrexate, a standard background RA therapy, and whether there is any interaction between the drugs. No interaction was observed.

In pre-clinical models of RA, MBS2320 has demonstrated an ability to reduce inflammation and promote remodelling of damaged bone. In the patient cohort, changes in biomarkers of inflammation, bone degradation and bone formation were observed that are consistent with this dual mode-of-action.

MBS2320 is currently being dosed as part of a Phase 2a study in RA, for which data is expected in late 2018. The Phase 2a study is a 12-week randomised, placebo-controlled, double-blind, multi-centre trial assessing the safety, tolerability and efficacy of MBS2320. Istesso anticipates that results will be available in late 2018.

Istesso is a majority-owned subsidiary of the Group and, hence, its results are consolidated into those of the Group rather than being included as a portfolio company held at fair value.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Alan Aubrey, Chief Executive Officer Greg Smith, Chief Financial Officer Liz Vaughan-Adams, Communications	[phone] [phone]/[phone]
Charlotte Street Partners
Andrew Wilson	[phone]
Martha Walsh	[phone]
Istesso
Dr Sam Williams, CEO	[phone]

Notes for editors

About IP Group

IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in approximately 100 early-stage to mature businesses across four main sectors -- Biotech, Cleantech, Healthcare and Technology. The Company is listed on the Main Market of the London Stock Exchange under the code IPO.

For more information, please visit our website at www.ipgroupplc.com.

About Istesso

Istesso is a drug discovery and development company working in the field of immunometabolism. Istesso's pipeline of pre-clinical and clinical assets work by reprogramming metabolism to treat autoimmune and inflammatory conditions such as rheumatoid arthritis and multiple sclerosis. Istesso was founded in 2017 as the new holding company for Modern Biosciences plc. For more information please visit www.istesso.co.uk.

About rheumatoid arthritis

Rheumatoid Arthritis (RA) is a chronic, progressive and disabling auto-immune disease affecting 165 million people worldwide, or one per cent of the global population. It is a painful condition that, unchecked, can cause severe disability. The disease can progress very rapidly, causing swelling and damaging cartilage and bone around the joints. Any joint may be affected but the hands, feet and wrists are most commonly involved, preventing patients from carrying out everyday tasks.

About MBS2320

MBS2320 is a first-in-class metabolic reprogramming agent for the treatment of RA and is distinguished from existing treatments by its dual mode-of-action which not only reduces inflammation, thereby preventing the progression of disease, but may also promote bone and joint remodelling. MBS2320 is subject to an Option and Licence Agreement with Janssen Biotech Inc.

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