CLIN.L Share News (CLIN)

(Sharecast News) - Pharmaceutical products and services company Clinigen Group announced on Tuesday that it will be providing access to 'Erwinase', or L-asparaginase Erwinia chrysanthemi, in the UK from 6 April.
The AIM-traded firm said the launch was part of the global exclusive licensing and distribution agreement with Porton Biopharma, initially announced on 16 April 2020.

It said Erwinase is approved in the UK as a component of a chemotherapeutic regimen for the treatment of patients with acute lymphoblastic leukaemia, who had developed hypersensitivity to E. coli-derived asparaginase.

Erwinase is manufactured by Porton Biopharma, with Clinigen responsible for marketing, packaging, labelling, storage and distribution.

With the onboarding of Erwinase coming earlier than originally expected, the board said it would bring forward an expected investment in working capital in line with its previous guidance of £10m to £20m.

Given the proximity to the year-end and staggered roll out across each territory, the board said that was not expected to have a material impact on current year profit expectations.

"Erwinase is an important treatment option for healthcare professionals in the UK and this represents a major milestone since partnering with Porton Biopharma," said chief operating officer Sam Herbert.

"Porton Biopharma has invested in enhancing its manufacturing to increase Erwinase capacity and our ongoing focus is to ensure effective future supply in the UK and in other international markets where patients need access.

"At Clinigen our mission is to ensure the right medicines get to the right patients at the right time and we see Erwinase as a key part of that mission."

At 1057 BST, shares in Clinigen Group were up 0.25% at 800p.