18th Jan 2005 07:00
Evolutec Group PLC18 January 2005 For immediate release 18 January 2005 EVOLUTEC GROUP PLC ("Evolutec" or "the Company") Patent granted in Europe for the Treatment of Allergic Rhinitis (hay fever) Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novelproducts for the treatment of allergic, inflammatory and autoimmune diseases, ispleased to announce that the European Patent Office has granted a wide-rangingpatent (number 1207899) covering the use of its lead product candidate, rEV131,in the treatment of allergic rhinitis. The patent also covers the use of anyfunctionally equivalent molecule to treat allergic rhinitis. The patent underpins Evolutec's clinical development programme for its leadproduct candidate, since exclusive protection has now been granted in the US andEurope. Evolutec is planning a Phase II trial of rEV131 in allergic rhinitislater this year and is in dialogue with the US Food & Drug Administration (FDA)regarding an Investigational New Drug (IND) application. The market for the treatment of allergic rhinitis is estimated to be some $6.6billion. There is unmet medical need in this market since the condition's mosttroublesome symptoms - congestion and mucus production - are difficult tocontrol. Furthermore, there are concerns over the long-term use of existingcorticosteroid treatments, particularly in children and the elderly. Mark Carnegie Brown, Evolutec's Chief Executive, said: "The award of this patentis timely, as it comes ahead of our planned Phase II allergic rhinitis trial,and its scope is broad. The patent adds to Evolutec's growing family of patentsand further strengthens the Company's intellectual property position." For further information: Evolutec 01865 784070Mark Carnegie Brown, Chief Executive OfficerNicholas Badman, Chief Financial Officerwww.evolutec.co.uk Collins Stewart 020 7523 8350Chris Howard Buchanan Communications 020 7466 5000Mark Court/Tim Anderson/Mary-Jane Johnson Notes for Editors: About Evolutec Evolutec, which is based in Oxford, UK, is a clinical stage biopharmaceuticalcompany with a focus on allergy, inflammation and auto-immune diseases. The Company's lead product, rEV131, is a histamine-binding protein that hasprogressed to Phase II trials in allergic conjunctivitis, rhinitis and ocularinflammation. Positive pre-clinical data has also been generated in asthma.rEV131 is understood to be the only product currently in clinical trials thatimpacts the recently discovered H4 receptor, a receptor implicated in many formsof inflammatory disease. The Company intends to carryout proof of concept PhaseII clinical trials with rEV131 in allergic rhinitis and post-cataract surgery in2005. The Company has a further two products in pre-clinical development: rEV598,which is being evaluated in carcinoid syndrome and CINV (chemotherapy-inducednausea and vomiting), and rEV576, a complement inhibitor. Evolutec was founded in 1998 to exploit research carried out by the NaturalEnvironment Research Council. Evolutec's drugs were first isolated from thesaliva of ticks. The tick remains undetected by its hosts, including humans, byinjecting an array of molecules into the skin that suppresses normal defencemechanisms. These stealth molecules have evolved over millions of years toenable the tick to take a blood meal from its host. Evolutec employs the tick'sevolutionary 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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