12th May 2025 18:23
(Alliance News) - TheraCryf PLC on Monday said it has signed a master service agreement with Pharmaron UK Ltd to progress development of its Orexin-1 addiction programme.
The Macclesfield, England-based clinical stage drug developer said Pharmaron will help enable completion of the remaining preclinical data packages necessary to support an application for clinical trial authorisation.
Shares in TheraCryf closed up 13% at 0.27 pence in London on Monday.
TheraCryf said these activities will include the scale up of manufacturing, formulation and clinical drug supply together with toxicology work.
The company said a "substantial part" of the proceeds from a recent fundraise will be allocated to this programme.
It said work on the agreement will start imminently, with full completion of all studies necessary for the application anticipated in the second half of 2026.
Chief Executive Officer Huw Jones said: "Following our GBP4.25 million gross fundraise in the first quarter of this year, we are now moving at pace with our acquired and potentially most valuable programme, Ox-1.
"Blocking the Ox-1 receptor has the potential to alleviate a number of addictive and impulsive conditions. We look forward to proceeding towards clinical trials in man as quickly and efficiently as possible with Pharmaron as our development partner."
By Michael Hennessey, Alliance News reporter
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