(Alliance News) - Vela Technologies PLC and Cizzle Biotechnology Holdings PLC on Thursday hailed the latest clinical trial results from investee St George Street Capital Ltd.
The companies, in separate statements, explained that St George Street had published data from a trial investigating drug AZD1656 in people with diabetes and Covid-19.
The trial observed lower mortality in patients in the AZD1656 arm, and the drug was shown to have immunomodulatory capability.
It also suggested that the drug may suppress "inappropriate inflammation" which is the prime cause of tissue damage in autoimmune disease.
Vela holds an economic interest in the commercialisation of AZD1656 and Cizzle holds royalty sharing rights for its commercialisation.
Shares in Vela were up 19% at 0.031 pence on Thursday in London, while Cizzle shares were up 8.1% at 1.81p, also in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Vela Technologies (VELA)
Cizzle Biotech (CIZ)