4th Dec 2006 07:01
Evolutec Group PLC04 December 2006 Monday 4 December 2006 Evolutec Group plc ("Evolutec" or "the Company") Primary Endpoint Not Met in Phase IIb rEV131 Trial in Allergic Rhinitis Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novelproducts for the treatment of allergic, inflammatory and autoimmune diseases,announces that no significant differences were observed between rEV131 andplacebo in the Phase IIb trial in allergic rhinitis and the primary endpoint wastherefore not met. Further clinical results with rEV131 from a second unrelated indication,inflammation following cataract surgery, are anticipated early next year. Oncethese clinical results are received the Company will review its strategy forrEV131. This will be presented at the time of the preliminary results on 27February 2007. Mark Carnegie Brown, Chief Executive of Evolutec, said: "This is tremendously disappointing for Evolutec and its shareholders. We willreview our intended programmes with rEV131 once the post-cataract results arereceived early next year and in the interim will continue to progress rEV576." Enquiries: Evolutec 0118 922 4480Mark Carnegie Brown, Chief Executive OfficerNicholas Badman, Chief Financial Officerwww.evolutec.co.uk Financial Dynamics 020 7831 3113David YatesBen Brewerton Notes for Editors: About Evolutec Evolutec, which is based in Reading, UK, is a clinical stage biopharmaceuticalcompany with a focus on allergy, inflammation and auto-immune diseases. rEV576, the Company's second product development candidate is a complementinhibitor which has demonstrated preclinical activity against the autoimmunediseases myasthenia gravis and Guillain-Barre Syndrome, asthma and acutemyocardial infarction ("AMI") (heart attack). Evolutec has established aresearch collaboration with Case Western Reserve University, Cleveland, Ohio, toundertake further preclinical work with rEV576 in myasthenia gravis. The Companyexpects to commence clinical trials with rEV576 in 2007. The rights to Evolutec's vaccine technology for animals are partnered withMerial. Merial is currently undertaking work in tick-borne diseases. Evolutec is listed on the AIM market of the London Stock Exchange and developstherapeutics originally isolated from the saliva of ticks. The tick remainsundetected by its hosts, including humans, by injecting an array of moleculesinto the skin that suppresses host immunity. These stealth molecules haveundergone millions of years of natural evolution to select a promising efficacy,potency and safety profile. Evolutec employs the tick's evolutionary stealthtechnology to offer the potential of treating human diseases. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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