Evolutec Group PLC
09 November 2005
9 November 2005
EVOLUTEC GROUP PLC
('Evolutec' or 'Company')
RESULT OF EGM
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 all of the resolutions at the EGM of the Company, held
today, were duly passed.
ENDS
For further information:
Evolutec 0118 922 4480
Mark Carnegie Brown, Chief Executive Officer
Nicholas Badman, Chief Financial Officer
www.evolutec.co.uk
Robert W. Baird 020 7488 1212
Shaun Dobson/Xavier de Mol
Notes for Editors:
About Evolutec
Evolutec, which is based in Reading, UK, is a clinical stage biopharmaceutical
company with a focus on allergy, inflammation and auto-immune diseases.
The Company has just completed a positive 112 patient proof of concept Phase II
clinical trial with rEV131, its lead product, in allergic rhinitis. The company
had previously demonstrated clinical activity against the symptoms of rhinitis
when rEV131 was delivered as an eye drop. Evolutec intends to carry out
additional proof of concept Phase II trials with rEV131 in post-cataract surgery
and dry eye. Positive preclinical data has also been generated in asthma.
rEV131 is a histamine binding protein and 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 has a further two molecules in preclinical development. rEV576, a
complement inhibitor that was very effective in a preclinical model of
myasthenia gravis, and rEV598, which is being evaluated in carcinoid syndrome
and CINV (chemotherapy-induced nausea and vomiting). Evolutec is working with
Merial to develop anti-tick and anti-tick borne disease vaccines.
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 but are now manufactured by bacterial fermentation procedures.
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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