(Alliance News) - Allergy Therapeutics PLC's shares were up on Wednesday after the immunology company said that it has been given approval to trial its peanut allergy vaccine in the US.
The Sussex, England based company was granted approval for its investigational new drug application by the US Food & Drug Administration for its novel virus-like particle-based peanut allergy vaccine.
This means Allergy Therapeutics can begin its phase one trial in the US on healthy subjects and those with peanut allergies. Topline data from the trial is now expected in the first half of 2023, rather than the fourth quarter of 2023 as previously expected.
The stock was up 12% to 26.50 pence in London during Wednesday midday trading.
The company highlighted the global food allergy market is worth USD8 billion and the vaccine will be a significant opportunity within it.
Chief Executive Officer Manuel Llobet, stated: "We have achieved a key milestone with the FDA's clearance of our IND application and look forward to advancing our innovative peanut allergy vaccine candidate into the clinic. We are now one step closer to bringing to patients a safe and effective short-course vaccine with the potential to provide long-term protection and a long-lasting protective immune response. I am excited to see the start of the Protect trial later this year."
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Allergy Thera. (AGY)