4th May 2005 13:23
Evolutec Group PLC04 May 2005 For immediate release 4 May 2005 EVOLUTEC GROUP PLC ("Evolutec" or "the Company") Result of AGM Evolutec Group plc (AIM: EVC), a biopharmaceutical company developing novelproducts for the treatment of allergic, inflammatory and autoimmune diseases, ispleased to announce that all of the resolutions at the AGM of the Company, heldtoday, were duly passed. David Bloxham, Evolutec's Chairman, commented: "The Company is on track with itsplans for the clinical development of rEV131, our lead compound. We are enteringan exciting stage in the development of the Company and expect to deliver twoPhase II clinical trial results by the end of 2005." ENDS For further information: Evolutec 0118 922 4480Mark 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 Reading, UK, is a clinical stage biopharmaceuticalcompany with a focus on allergy, inflammation and auto-immune diseases. The Company has commenced a 112 patient proof of concept Phase II clinicaltrial with rEV131, its lead product, in allergic rhinitis. Evolutec intends tocarry out additional proof of concept Phase II trials with rEV131 inpost-cataract surgery and dry eye. Positive pre-clinical data has also beengenerated in asthma. rEV131 is a histamine binding protein and is understood tobe the only product currently in clinical trials that impacts the recentlydiscovered H4 receptor, a receptor implicated in many forms of inflammatorydisease. 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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