23rd May 2006 07:02
Evolutec Group PLC23 May 2006 For immediate release 23 May 2006 EVOLUTEC GROUP PLC ("Evolutec" or "the Company") Appointment of Non-Executive Director Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novelproducts for the treatment of allergic, inflammatory and autoimmune diseases, ispleased to announce the appointment of Malcolm Lawton Darvell as a Non-ExecutiveDirector, effective from 24 May 2006. Mr Darvell, aged 43, is currently the Chief Executive of Rontech Limited, aprivately held company that develops software for the global financial servicesindustry. Mr Darvell has experience in both the financial and biotechnology sectors. Hewas previously Chief Financial Officer of Tempest Consultants Limited, a companyinvolved in equity market surveys, of Azur Environmental Limited, a companysupplying environmental monitoring equipment, and of Peptech Limited, theAustralian listed biotechnology company. Prior to that, Mr Darvell was Head ofCorporate Finance Advisory at Nomura International and was instrumental inbuilding that franchise. There are no further disclosures to be made in accordance with Schedule 2 (g) ofthe AIM rules. David Bloxham, Evolutec's Chairman, said: "I welcome Malcolm to Evolutec'sBoard, where his financial knowledge and experience of growing smaller companieswill be of great value as Evolutec progresses to the next stage in the Company'sdevelopment." For further information: Evolutec Group plc Tel: 0118 922 4480Mark Carnegie Brown, Chief Executive OfficerNicholas Badman, Chief Financial Officerwww.evolutec.co.uk Buchanan Communications Tel: 020 7466 5000Mark Court/Mary-Jane Johnson/Catherine Breen Notes for Editors: About Evolutec Group plc Evolutec is a biopharmaceutical company developing drugs for allergy,inflammation and autoimmune disease. Evolutec's lead drug candidate, rEV131 has efficacy in both acute and chronicrespiratory indications including allergic rhinitis (hay fever) and asthma. In2005, Evolutec announced a positive result for rEV131 in a 112 patient Phase IIaproof of concept study in allergic rhinitis. rEV131 met the primary efficacyendpoint (p < 0.05). In addition, rEV131 showed efficacy against mucus andcongestion, the most difficult to treat symptoms of rhinitis as well as a rapidonset of action. Evolutec intends to carry out additional proof of concept Phase II trials withrEV131 in post-cataract surgery and dry eye. Positive preclinical data has alsobeen generated in asthma. rEV131 is a histamine binding protein and isunderstood to be the only product currently in clinical trials that impacts therecently discovered H4 receptor, a receptor implicated in many forms ofinflammatory disease. The Company has a further two molecules in preclinical development. rEV576, acomplement inhibitor that was very effective in a preclinical model ofmyasthenia gravis, and rEV598, which is being evaluated in carcinoid syndromeand CINV (chemotherapy-induced nausea and vomiting). Evolutec is working withMerial to develop anti-tick and anti-tick borne disease vaccines. Evolutec, which is based in Reading, UK, was founded in 1998 to exploit researchcarried out by the Natural Environment Research Council. Evolutec's drugs werefirst isolated from the saliva of ticks but are now manufactured by bacterialfermentation procedures. The tick remains undetected by its hosts, includinghumans, by injecting an array of molecules into the skin that suppresses normaldefence mechanisms. These stealth molecules have evolved over millions of yearsto enable the tick to take a blood meal from its host. Evolutec employs thetick's evolutionary stealth technology to offer the potential of treating humandiseases. Safe Harbour statement: this news release may contain forward-looking statementsthat reflect the current expectations of the Company regarding future events.Forward-looking statements involve risks and uncertainties. Actual events coulddiffer materially from those projected herein and depend on a number of factorsincluding the success of the Company's research strategies, the applicability ofthe discoveries made therein, the successful and timely completion of clinicalstudies, the uncertainties related to the regulatory process, the successfulintegration of completed mergers and acquisitions and achievement of expectedsynergies from such transactions, and the ability of the Company to identify andconsummate suitable strategic and business combination transactions. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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