9th Nov 2005 12:40
Evolutec Group PLC09 November 2005 9 November 2005 EVOLUTEC GROUP PLC ("Evolutec" or "Company") RESULT OF EGM Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novelproducts for the treatment of allergic, inflammatory and autoimmune diseases, ispleased to announce that all of the resolutions at the EGM of the Company, heldtoday, were duly passed. ENDS For further information: Evolutec 0118 922 4480 Mark Carnegie Brown, Chief Executive Officer Nicholas Badman, Chief Financial Officer www.evolutec.co.uk Robert W. Baird 020 7488 1212 Shaun Dobson/Xavier de Mol 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 just completed a positive 112 patient proof of concept Phase IIclinical trial with rEV131, its lead product, in allergic rhinitis. The companyhad previously demonstrated clinical activity against the symptoms of rhinitiswhen rEV131 was delivered as an eye drop. Evolutec intends to carry outadditional proof of concept Phase II trials with rEV131 in post-cataract surgeryand dry eye. Positive preclinical data has also been generated in asthma.rEV131 is a histamine binding protein and is understood to be the only productcurrently in clinical trials that impacts the recently discovered H4 receptor, areceptor implicated in many forms of inflammatory 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 was founded in 1998 to exploit research carried out by the NaturalEnvironment Research Council. Evolutec's drugs were first isolated from thesaliva of ticks but are now manufactured by bacterial fermentation procedures.The tick remains undetected by its hosts, including humans, by injecting anarray of molecules into the skin that suppresses normal defence mechanisms.These stealth molecules have evolved over millions of years to enable the tickto take a blood meal from its host. Evolutec employs the tick's evolutionarystealth technology to offer the potential of treating human diseases. 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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