Portfolio co Istesso phase 2a trials, R&D collab

RNS Number : 5936O

IP Group PLC

22 August 2017

 

FOR RELEASE ON

22 August 2017

IP Group plc - Istesso commences Phase 2a for MBS2320 in rheumatoid arthritis and expands R&D collaboration with Janssen

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 the successful dosing of the first patients in a Phase 2a study of its investigational drug, MBS2320, for the treatment of rheumatoid arthritis ("RA").

The progression to Phase 2a follows the successful completion of dosing in a Phase 1 study and is accompanied by an expansion of the financial terms of Istesso's 2014 Option and Licence Agreement with Janssen Biotech, Inc. ("Janssen").

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 that not only reduces inflammation, thereby preventing the progression of disease, but may also promote bone and joint remodelling.

The progression to Phase 2a follows the analysis of data emerging from a Phase 1 trial in which MBS2320 has demonstrated good safety and tolerability in healthy volunteers, as well as predictable blood exposure levels ("pharmacokinetics"). Analysis of the data from a cohort of RA patients included in the trial is ongoing, with good safety and tolerability observed to date.

Dr Sam Williams, CEO of Istesso and Head of Biotech at IP Group, said: "We are pleased to see MBS2320 progress into Phase 2a, representing a significant developmental milestone for this programme. Istesso is focussed on the rapidly emerging field of immunometabolism, with MBS2320 its lead, first-in-class agent. Behind MBS2320, Istesso has a pipeline of assets that work by reprogramming metabolism to treat autoimmune and inflammatory conditions such as multiple sclerosis, psoriasis and ulcerative colitis."     

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 Martha Walsh	[phone] [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 act by reprogramming metabolism to treat autoimmune and inflammatory conditions such as rheumatoid arthritis and multiple sclerosis. Istesso was founded in 2017 as the 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 autoimmune 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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