Cizzle Biotechnology Holdings PLC - London-based diagnostics developer - Reports that Arcadia clinical study shows potential value of AZD1656 treatment for Covid-19 patients. The new data analysis comes from St George Street Capital Ltd, which runs the trial with Excalibur Medicines Ltd for the treatment, in which Cizzle holds a "significant" royalty-bearing economic interest.
Immunological data "strongly" supports rationale that AZD1656 works as an immunomodulator that decreases inflammatory response in Covid-19 infection, and boosts immune response against the virus. AZD1656 also shows potential for managing cardiovascular and lung diseases. SGSC and funding partner Conduit Pharmaceuticals Ltd continue to engage in commercial discussions to sell the treatment, find development partners, or secure funding for additional trials.
"The SGSC update supports the company's ambitions to expand into the pharmaceutical industry and is in line with its strategy of building a portfolio of early cancer detection tests, companion diagnostics and royalty-bearing stakes in related drug assets," Cizzle says.
Current stock price: closed on Monday at 2.33 pence, down 3.1%
12-month change: down 74%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Cizzle Biotech (CIZ)