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IN BRIEF: Vela Technologies Covid-19/diabetes drug trials successful

Thu, 9th Sep 2021 12:05

Vela Technologies PLC - Bingley, England-based investment firm focused on technology - Says Arcadia phase 2 clinical trial confirms AZD1656 as a safe and efficient treatment for people with diabetes infected with Covid-19. Biomedical charity St George Street Capital Ltd to undertake commercial discussions with potential licensees and fundraise for larger clinical trials on AZD1656. AZD1656 is an oral tablet identified by St George Street Capital, and initiated to assess safety and tolerability of a glucose kinase activator treating diabetic people hospitalised with Covid-19.

"The completion of Arcadia marks a significant milestone in the history of the charity St George Street Capital," says charity Chair John Martin. "We have demonstrated our ability to rapidly deliver a clinical trial in an area of unmet clinical need, thus fulfilling our mission to accelerate the development of new treatments for people who need them." Adds AZD1656 has potential to become new Covid-19 treatment independent of viral mutations.

Current stock price: 0.11 pence, down 8.5% on Thursday

Year-to-date change: up 41%

By Josie O'Brien; josieobrien@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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