8 Aug 2012 07:00
BTG Announces Data from Phase IIb Study of AZD9773
London, UK, 8 August 2012: BTG plc (LSE: BTG), announces top-line data from a global double-blind Phase IIb study comparing the efficacy and safety of two doses of AZD9773 (CytoFab™) with placebo in patients with severe sepsis and/or septic shock, conducted by AstraZeneca.
Treatment with AZD9773 did not show any significant improvements versus placebo in respect of the primary endpoint, ventilator-free days, or secondary endpoints including mortality.
In light of these data, AstraZeneca has decided to halt any further development of AZD9773 for the treatment of severe sepsis and/or septic shock, and will hand the asset back to BTG.
Louise Makin, BTG's CEO, commented: "These results are obviously disappointing, as the treatment of severe sepsis remains a major unmet need. Our core business and trading continue on track, as described in our recent interim management statement."
BTG does not anticipate conducting any further development of AZD9773. Consequently, BTG anticipates taking a charge of approximately £28m in the current financial year, of which £25m relates to a non-cash impairment of intangible and tangible fixed assets.
For further information contact:
BTG | FTI Consulting |
Andy Burrows, Director of Investor Relations +44 (0)20 7575 1741; Mobile: +44 (0)7990 530605 Rolf Soderstrom, Chief Financial Officer +44 (0)20 7575 0000 | John Dineen +44 (0)20 7831 3113 |
About BTG
BTG is an international specialist healthcare company that is developing and commercialising products targeting critical care, cancer and other disorders. The Group is seeking to acquire new products to develop and market to specialist physicians, and is building a sustainable business financed by revenues from sales of its own marketed products and from royalties and milestone payments on partnered products. For further information about BTG please visit our website at www.btgplc.com.