21 Jun 2017 07:00
PRESS RELEASE
FOR IMMEDIATE RELEASE
PeproStat Phase IIb study passes recruitment mid-point ahead of schedule
- Top line results brought forward to Q4 2017
London, UK - 21 June 2017: Ergomed plc (LSE: ERGO) ('Ergomed' or the 'Company'), a company dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, today announces that its Phase IIb proof-of-concept study for PeproStat, Ergomed's highly innovative new coagulant, or 'haemostat', for intraoperative surgical bleeding, has reached its recruitment mid-point ahead of schedule. The trial is now expected to report top line data in Q4 2017, accelerated from Q1 2018.
PeproStat is a potentially disruptive product which could enter a global haemostat market estimated to be worth $2.8 billion in 20201. Current products may be limited by a range of issues, including slow onset of action and long preparation time. PeproStat, based on a synthetic peptide which eliminates the risk of exposure to blood derived materials, is more stable allowing the formulation of ready-to-use preparations and has a fast mode of action. With these advantages Ergomed expects the product will gain significant market share.
Over half of the 140 patients have now been enrolled in a randomised, placebo controlled, double blinded Phase IIb study in up to 30 centres across seven European countries. The primary objective of the study is to evaluate the efficacy of PeproStat in controlling bleeding during surgery. The study is examining four different surgical procedures: liver; soft tissue; vascular; and spinal. This follows on from a 20 patient UK Phase I study conducted in liver surgery patients that indicated the product was safe, fast and effective.
PeproStat is the lead product in Ergomed's haemostatix portfolio, with ReadyFlowTM in mid-stage pre-clinical development. Ergomed believes that together these two products are estimated to have peak sales potential of more than $500 million.
Dr. Miroslav Reljanovic, Chief Executive Officer of Ergomed, said:
"The accelerated recruitment of this Phase IIb trial demonstrates not only strong physician interest in this innovative haemostat but also Ergomed's ability as a specialist drug developer to efficiently recruit patients and conduct studies faster than industry standards. We look forward to the results which are now expected in Q4 2017 and, if successful, to establishing a compelling data package to advance the product into late-stage development and commercial collaboration."
Dr. Paul Hayes, Addenbrookes Hospital, Cambridge, UK, the Chief Investigator for the trial, said; "Access to novel haemostats such as PeproStat could provide better control of excess bleeding during surgery than current products. This could help reduce operation times, complications and prevent unnecessary returns to surgery. It has been very satisfying to see the speed of recruitment into the trial and the acceleration in the development of this potential alternative."
1 Hemostats Market by Product Type (Thrombin, Oxidised Regenerated Cellulose, Combination, Gelatin, Collagen), and Geography (Americas, Europe, APAC, MEA) - Global Forecast to 2020. MarketsandMarkets, February 2016.
ENDS
Enquiries:
Ergomed plc | Tel: +44 (0) 1483 503205 | |
Miroslav Reljanovic (Chief Executive Officer) | ||
Stephen Stamp (Chief Financial Officer) | ||
Numis Securities Limited | Tel: +44 (0) 20 7260 1000 | |
Michael Meade / Freddie Barnfield (Nominated Adviser) | ||
James Black (Joint Broker) | ||
N+1 Singer | Tel: +44 (0) 20 7496 3000 | |
Alex Price (Joint Broker) | ||
Consilium Strategic Communications - for UK enquiries | Tel: +44 (0) 20 3709 5700 | |
Chris Gardner / Mary-Jane Elliott Ivar Milligan / Philippa Gardner | ergomed@consilium-comms.com | |
MC-Services - for Continental European enquiries | Tel: +49 211 5292 5222 | |
Anne Hennecke | ||
About Ergomed
Ergomed plc is a profitable UK-based business providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 50 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 100 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes.
Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.
As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development. Lastly, Ergomed acquired a pipeline of proprietary development products for the treatment of surgical bleeding. For further information, visit: http://ergomedplc.com.