Half Yearly Report to 30 September 2015
News Dec 12, 2015
Evgen Pharma plc has announced its unaudited interim results for the six months ended 30 September 2015.
Highlights in the year to date
• £7 million placing and admission to AIM on 21 October 2015
• Positive data on SFX-01 as adjunct to hormonal therapy in patient-derived xenografts using cancer tissues from early and late stage breast cancer patients (data presented at the American Association of Cancer Research, April 2015)
• Dr Alan Barge, former oncology head at AstraZeneca, appointed as a Non-executive Director in October 2015
• Acquisition of novel compounds in November 2015 via an exclusive worldwide license from the Spanish National Research Council (CSIC) and the University of Seville, Spain
• Net loss for the period was £1.2m (30 September 2014: net loss £1.1m)
• The cash position at 30 September 2015 was £1.8m (30 September 2014: £0.2m), reflecting a £2.0m (gross) pre-IPO fundraising in August 2015. The IPO placing in October further strengthened the balance sheet
• Company fully funded to complete two Phase II studies of SFX-01 and to support further preclinical work
Stephen Franklin, Chief Executive Officer of Evgen Pharma, said: "We are extremely pleased by the significant progress Evgen Pharma has made in the year to date, which has included oversubscribed fundraisings in the form of a pre-IPO investment round and October's IPO.
"In the period, our long-standing collaboration with the Cancer Research UK Manchester Institute resulted in the presentation of promising data showing SFX-01 reducing cancer stem cells in patient-derived breast cancer tissue in xenograft models. Also, we have recently expanded our pipeline by in-licensing a range of novel compounds from the University of Seville.
"We remain very encouraged about the development of our lead product, SFX-01, as it progresses into Phase II clinical trials in metastatic breast cancer and subarachnoid haemorrhage and into preclinical studies in multiple sclerosis. Preparations for these trials and studies are proceeding to schedule and the Company will also continue to collaborate with investigators in other disease areas."