ERGO.L Share News (ERGO)

LONDON (Alliance News) - Ergomed PLC said Thursday that it has continued to make progress with its three co-development partnerships in the US, and expects to announce further co-development partnerships in the next six months.

The company has three partnerships with US listed companies developing phase III oncology drugs, and a fourth agreement with a European company that is about to undertake a phase II study into insomnia. Under the deals the company contributes to the costs of clinical trials, and in return gets a share of the proceeds from the commercialisation of the products.

Ergomed is working with CEL-SCI Corp on a phase III study into Multikine for the treatment of head and neck cancer; 252 patients of an approximate total of 880 have been enrolled so far. The two companies have also planned two further studies, a phase I study into the additional indication of peri-anal warts in HIV/HPV co-infected patients, and phase II study into cervical dysplasia in HIV/HPV in co-infected patients.

It is working with Synta Pharmaceuticals Corp on its development candidate ganetespib for a number of cancer indications, and also Aeterna Zentaris Inc on a phase III trial comparing zoptaerlin doxorubicin with doxorubicin as a second line therapy for locally-advanced, recurrent or metastatic endometrial cancer.

It is on track to start a phase II study in insomnia in the fourth quarter of 2014 with Ferrer Internacional SA.

"We believe the co-development model has the potential to generate significant value for Ergomed shareholders through the effective execution of clinical studies through flexible partnerships," said Chief Executive Miroslav Reljanovic in a statement.

Shares in Ergomed are trading flat at 159.00 pence per share Thursday morning.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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