Evolutec Group PLC
18 January 2005
For immediate release 18 January 2005
EVOLUTEC GROUP PLC
('Evolutec' or 'the Company')
Patent granted in Europe for the Treatment of Allergic Rhinitis (hay fever)
Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novel
products for the treatment of allergic, inflammatory and autoimmune diseases, is
pleased to announce that the European Patent Office has granted a wide-ranging
patent (number 1207899) covering the use of its lead product candidate, rEV131,
in the treatment of allergic rhinitis. The patent also covers the use of any
functionally equivalent molecule to treat allergic rhinitis.
The patent underpins Evolutec's clinical development programme for its lead
product candidate, since exclusive protection has now been granted in the US and
Europe. Evolutec is planning a Phase II trial of rEV131 in allergic rhinitis
later this year and is in dialogue with the US Food & Drug Administration (FDA)
regarding an Investigational New Drug (IND) application.
The market for the treatment of allergic rhinitis is estimated to be some $6.6
billion. There is unmet medical need in this market since the condition's most
troublesome symptoms - congestion and mucus production - are difficult to
control. Furthermore, there are concerns over the long-term use of existing
corticosteroid treatments, particularly in children and the elderly.
Mark Carnegie Brown, Evolutec's Chief Executive, said: 'The award of this patent
is timely, as it comes ahead of our planned Phase II allergic rhinitis trial,
and its scope is broad. The patent adds to Evolutec's growing family of patents
and further strengthens the Company's intellectual property position.'
For further information:
Evolutec 01865 784070
Mark Carnegie Brown, Chief Executive Officer
Nicholas Badman, Chief Financial Officer
www.evolutec.co.uk
Collins Stewart 020 7523 8350
Chris Howard
Buchanan Communications 020 7466 5000
Mark Court/Tim Anderson/Mary-Jane Johnson
Notes for Editors:
About Evolutec
Evolutec, which is based in Oxford, UK, is a clinical stage biopharmaceutical
company with a focus on allergy, inflammation and auto-immune diseases.
The Company's lead product, rEV131, is a histamine-binding protein that has
progressed to Phase II trials in allergic conjunctivitis, rhinitis and ocular
inflammation. Positive pre-clinical data has also been generated in asthma.
rEV131 is understood to be the only product currently in clinical trials that
impacts the recently discovered H4 receptor, a receptor implicated in many forms
of inflammatory disease. The Company intends to carryout proof of concept Phase
II clinical trials with rEV131 in allergic rhinitis and post-cataract surgery in
2005.
The Company has a further two products in pre-clinical development: rEV598,
which is being evaluated in carcinoid syndrome and CINV (chemotherapy-induced
nausea and vomiting), and rEV576, a complement inhibitor.
Evolutec was founded in 1998 to exploit research carried out by the Natural
Environment Research Council. Evolutec's drugs were first isolated from the
saliva of ticks. The tick remains undetected by its hosts, including humans, by
injecting an array of molecules into the skin that suppresses normal defence
mechanisms. These stealth molecules have evolved over millions of years to
enable the tick to take a blood meal from its host. Evolutec employs the tick's
evolutionary stealth technology to offer the potential of treating human
diseases.
Safe Harbour statement: this news release may contain forward-looking statements
that reflect the current expectations of the Company regarding future events.
Forward-looking statements involve risks and uncertainties. Actual events could
differ materially from those projected herein and depend on a number of factors
including the success of the Company's research strategies, the applicability of
the discoveries made therein, the successful and timely completion of clinical
studies, the uncertainties related to the regulatory process, the successful
integration of completed mergers and acquisitions and achievement of expected
synergies from such transactions, and the ability of the Company to identify and
consummate suitable strategic and business combination transactions.
This information is provided by RNS
The company news service from the London Stock Exchange
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