Portfolio Update

RNS Number : 6919K

Woodford Patient Capital Trust PLC

17 December 2018

 

Woodford Patient Capital Trust plc

Portfolio update: Evofem announces positive results of Phase 3 study for main asset

17 December 2018

Evofem, a company in the Woodford Patient Capital Trust (WPCT) and LF Woodford Equity Income Fund portfolios, has today announced that its Phase 3 clinical trial of Amphora for the prevention of pregnancy successfully met its primary endpoint.

The company believes the results "solidify Amphora's position as the most substantial birth control innovation in 20 years and a significant advancement for women and their sexual and reproductive health". The prescription contraceptive market is estimated to be worth $5.5bn.

Evofem will submit the Amphora new drug application to the US Food & Drug Administration (FDA) in the second quarter of 2019. If approved, it plans to commercialise this first-in-class birth control treatment in January 2020 to help meet the needs of the 16.5 million women who are not using a contraceptive method but do not want to get pregnant - including women who cannot or will not use hormonal birth control methods. It will enable health care providers to offer patients an effective birth control method that is non-hormonal, on-demand, and woman-controlled.

Ampower assessed the efficacy, safety and subject satisfaction with Amphora in approximately 1,400 healthy women aged 18-35 years at 112 centres in the US. The primary endpoint of the study was the pregnancy rate over seven cycles of use (one cycle = 21-35 days). Top-line data analysis demonstrates a cumulative pregnancy rate of 14% over seven cycles of use. This corresponds to an 86.0% efficacy rate, which meets the pre-determined endpoint of this clinical trial. In women who correctly used Amphora per study protocol, the cumulative pregnancy rate was 1.3% over seven cycles of use. This corresponds to a 98.7% efficacy rate, demonstrating that when Amphora is used as directed, the efficacy in which women can have confidence is similar to other frequently used contraceptive methods.

Woodford Patient Capital Trust first invested in the then private company in November 2015. Evofem agreed a reverse takeover of Neothetics, in October 2017, and listed on Nasdaq in January 2018. As of the end of October it represented a 0.39% position in the portfolio. It is also held in the LF Woodford Equity Income Fund. For more analysis go to the stock's page on the Woodford website.

For further information please contact:

For Woodford
Four Broadgate

Roland Cross / Jonathan Atkins

020 3697 4200

[e-mail]

Notes to editors:

For further information go to: woodfordfunds.com

About Woodford Investment Management:

Woodford Investment Management Limited is an asset management company built on a founding philosophy of transparency and simplicity. Launched in May 2014, the company has £10.5 billion assets under management and advice. Further information can be found at https://woodfordfunds.com

Woodford Investment Management Ltd

9400 Garsington Road Oxford OX4 2HN

[phone]

[e-mail]

woodfordfunds.com

 

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