(Alliance News) - Evgen Pharma PLC announced on Tuesday that it has a memorandum of understanding with the University of Seville, the Spanish National Research Council, and the Progress & Health Foundation in Spain for the institutions' sulfoaphane analogues.
The Cheshire, England-based drug development company said under the agreement Evgen has signed an exclusive option to license new sulforaphane analogues synthesised by the Spanish institutions, subject to a fixed evaluation period.
Evgen explained that these analogues have the potential for differentiation from SFX-01 in terms of product formulation. SFX-01 is a stable form of the natural compound sulforaphane and is used as an investigational medicinal product.
The company continued that they may also have the potential for differential activity against targets that Evgen is pursuing such as STAT3 which has importance in controlling cancer metastases; SHP2 which is a target that has relevance in a number of solid tumours and haematological cancers; and Nrf2 which is a a therapeutic target associated with a broad range of diseases which are characterised by excessive oxidative stress and inflammation.
If the option is exercised it would expand substantially the company's preclinical pipeline of sulforaphane analogues, Evgen explained.
Analogues from an existing license from the University of Seville and the Spanish National Research Council are currently undergoing further screening against relevant targets. The current option will be exercised if the company's technical evaluation is positive.
Shares in Evgen were up 7.0% at 5.03 pence on Tuesday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Evgen Pharma (EVG)