Last checked at 27 Mar 2019 07:00
Destiny Pharma plc
("Destiny Pharma" or "the Company")
Destiny Pharma appoints MedPharm to develop new XF-platform drug formulations
MedPharm will develop potential XF-platform formulations as treatments for dermal and ocular infections
Brighton, United Kingdom - 27th March 2019 - Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel antimicrobial drugs, is pleased to announce that it has appointed MedPharm as its expert partner to develop new topical formulations of the Company's novel XF-platform compounds. These new treatments for dermal and ocular infections are part of its second clinical programme to address the global problem of anti-microbial resistance (AMR). MedPharm is a world leading contract provider of topical and transdermal product design and formulation development services using sophisticated in vitro models to de-risk development programmes.
The XF platform has already delivered a Phase 2 ready candidate, XF-73 nasal gel, for the prevention of post-surgical infections, that will begin Phase 2b testing in 2019. MedPharm will develop new formulations containing Destiny Pharma's XF-platform compounds for the treatment of a number of topically treated infections, including diabetic foot ulcers and ophthalmic infections. MedPharm is a well-established, global leader in topical product development with a track record in developing a wide variety of formulations, from early concept stage through clinical development to full product approval.
Neil Clark, CEO of Destiny Pharma commented:
"We are pleased to be working with MedPharm and using their globally recognised expertise to develop effective, patient-friendly formulations of XF and DPD drugs from our novel antimicrobial XF-platform. There is an unmet medical need for novel anti-infectives that address dermal and ocular infections with a significantly reduced level of antimicrobial resistance. We look forward to developing improved, targeted formulations with MedPharm to take into future pre-clinical and clinical studies."
Eugene Ciolfi, President & CEO of MedPharm commented:
"MedPharm are very excited to be a part of this project and working in close collaboration with Destiny Pharma to address this unmet medical need. Our rigorous methodology, incorporating our novel and world leading in vitro performance testing, will ensure that we deliver fully optimised formulations and de-risk these important development programmes."
For further information, please contact:
Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440
FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000
Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)
Philip Davies / Will Goode, Corporate Finance
Andrew Keith, Healthcare Equity Sales
+44 (0)20 7894 7000
finnCap Ltd (Joint Broker)
Geoff Nash / Kate Bannatyne, Corporate Finance
Alice Lane ECM
+44 (0)20 7220 0500
MedPharm Ltd
Jeremy Drummond, SVP Business Development
Yasmeen Hussain, Marketing
business.development@medpharm.com
Ramarketing
Celine Goodier
celine@ramarketingpr.com
About Destiny Pharma
Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel medicines from its XF platform that represent a new approach to the treatment of infectious disease. These potential new medicines are being developed to address the need for new drugs for the prevention and treatment of life-threatening infections caused by antibiotic-resistant bacteria, often referred to as "superbugs". Tackling anti-microbial resistance has become a global imperative recognised by the WHO and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com.
About MedPharm
MedPharm is the world's leading contract provider of topical and transdermal product design and formulation development services. MedPharm are experts at reducing risk and accelerating development times for generic and proprietary pharmaceutical customers through their unique, cost-effective and industry-leading performance testing models. Well established as the global leaders in dermatology, nail, mucosal membrane, and transdermal product development, MedPharm can also offer innovative solutions for ophthalmic and airway preparations recognised for their scientific rigour by regulators and investors. MedPharm has fully established centres of excellence in Durham, USA and Guildford, UK. For further information, please visit www.medpharm.com.