25 May 2017 07:00
25 May 2017
AIM: AMYT
ESM: AYP
Amryt Pharma plc
("Amryt" or the "Company")
AGM Statement
Amryt, the pharmaceutical company focused on best-in-class treatments for rare and orphan diseases, will hold its Annual General Meeting this morning and Chairman, Harry Stratford, will make the following comment on current trading:
"The Group has made substantial progress since its admission to trading on AIM in April 2016 and this has continued in the new financial year.
"As previously reported on 30 March 2017, sales of Lojuxta are expected to generate revenues of EUR 10.5m on an annualised basis and management is encouraged by 'real-world' data results* as it seeks to increase sales of this cholesterol-lowering agent in the treatment of the Homozygous Familial Hypercholesterolaemia ("HoFH") across its licenced territories.
"The pivotal Phase 3 trial, "EASE", which is evaluating AP101, the Company's lead development asset, as a potential treatment for Epidermolysis Bullosa ("EB"), the distressing skin disorder, enrolled its first patient in April and the trial remains on track to be one of the largest studies of its kind in this rare disease.
"The Board continues to view prospects very positively."
\* The study results have been presented in a paper entitled, "Efficacy of Lomitapide in the Treatment of Familial Homozygous Hypercholesterolemia: Results of a Real-World Clinical Experience in Italy", and published by Advances in Therapy, an international, peer-reviewed journal.
Enquiries:
Amryt Pharma plc | C/o KTZ Communications |
Joe Wiley, CEO Rory Nealon, CFO/COO | |
Shore Capital | +44 (0) 20 7408 4090 |
Nomad and Joint Broker | |
Bidhi Bhoma, Edward Mansfield | |
Davy | +353 (1) 679 6363 |
ESM Adviser and Joint Broker | |
John Frain, Anthony Farrell | |
Stifel | +44 (0) 20 7710 7600 |
Joint Broker | |
Jonathan Senior, Ben Maddison | |
KTZ Communications | +44 (0) 20 3178 6378 |
Katie Tzouliadis, Emma Pearson |
About Amryt Pharma plc
(www.amrytpharma.com)
Amryt Pharma is a specialty pharmaceutical company focused on developing and delivering innovative new treatments to help improve the lives of patients with rare or orphan diseases. The Company is building a diversified portfolio of commercially attractive, best-in-class, proprietary new drugs to help address some of these rare and debilitating illnesses for which there are currently no available treatments.
The Company holds an exclusive licence to sell Lojuxta (lomitapide) for adults, across the EU and other territories including the Middle East, North Africa, Turkey and Israel. Lojuxta is used to treat a rare life-threatening disease called Homozygous Familial Hypercholesterolemia, which impairs the body's ability to remove LDL cholesterol ("bad" cholesterol) from the blood. This typically results in extremely high blood LDL cholesterol levels leading to aggressive and premature narrowing and blocking of arterial blood vessels. If left untreated, heart attack or sudden death may occur in childhood or early adulthood.
Amryt's lead drug candidate, AP101 (Episalvan), is a potential treatment for Epidermolysis Bullosa ("EB"), a rare and distressing genetic skin disorder affecting young children for which there is currently no treatment. It is currently in Phase 3 clinical trials. The global market opportunity for EB is estimated to be in excess of EUR 1.3 billion.
Amryt's earlier stage product AP102 is focused on developing novel, next generation somatostatin analogue ("SSA") peptide medicines for patients with rare neuroendocrine diseases, where there is a high unmet medical need, including acromegaly and Cushing's disease.
The Company joined AIM and Dublin's ESM in April 2016 following the reverse takeover of Fastnet Equity PLC.