No exposure to Silicon Valley Bank

RNS Number : 6642S

Evgen Pharma PLC

13 March 2023

 

Evgen Pharma plc

("Evgen" or the "Company")

No exposure to Silicon Valley Bank

Alderley Park, UK - 13 March 2023 : Evgen Pharma plc (AIM: EVG), a clinical stage drug development company  developing sulforaphane-based medicines for the treatment of cancer and other indications, notes the financial problems at the US and UK arms of Silicon Valley Bank (SVB).

Evgen confirms that it is has neither deposits, loans nor any other financial instrument with any part of SVB. 

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Enquiries:

Evgen Pharma plc Dr Huw Jones, CEO  Richard Moulson, CFO	Tel: [phone]
FinnCap (Nominated Advisor and Broker) Geoff Nash / Teddy Whiley (Corporate Finance) Alice Lane/ Nigel Birks (ECM)	Tel: [phone]
Instinctif Partners Melanie Toyne-Sewell / Rozi Morris / Adam Loudon	Tel: [phone] [e-mail]

Notes to Editors

About Evgen Pharma plc  

Evgen Pharma is a clinical stage drug development company developing sulforaphane based medicines for the treatment of multiple diseases. The Company's core technology is Sulforadex®, a method for synthesising and stabilising the naturally occurring compound sulforaphane and novel proprietary analogues based on sulforaphane. 

The Company's lead asset, SFX-01, is a patented composition of synthetic sulforaphane and alpha-cyclodextrin and has undergone clinical trials for oestrogen-positive (ER+) metastatic breast cancer. In September 2021 the FDA granted Orphan Drug status to SFX-01 in malignant glioma.

The Company also has a wide number of collaborations with leading academic centres in the UK, Europe and AsiaPac as part of the continuing strategy to build the data set of safety and efficacy around the compound. With respect to non-core area, Evgen signed an out-licensing deal with JuvLife, the dietary products and functional foods division of Juvenescence Ltd, for the development of a naturally-sourced sulforaphane nutritional health supplement, stabilised using Evgen's Sulforadex® technology. Evgen also has a licensing deal with Stalicla SA in neurodevelopmental disorders and schizophrenia.

The Company has its headquarters and registered office at Alderley Park, Cheshire. It joined the AIM market of the London Stock Exchange in October 2015 and trades under the ticker symbol EVG.  

For further information, please visit:  www.evgen.com .  

 

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