Last checked at 5 Dec 2022 07:00
FOR RELEASE ON | 05 December 2022 |
IP Group plc - Portfolio company Istesso announces FDA Fast Track and Orphan Drug designation for MBS2320
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which develops world-changing science and technology businesses across life sciences, technology and cleantech, notes that portfolio company Istesso Ltd ("Istesso" or "the Company"), the immunometabolism drug discovery and development company, has announced that the U.S. Food and Drug Administration (FDA) has granted Fast Track designation for Istesso's investigational metabolic reprogramming agent, MBS2320, for the treatment of patients with idiopathic pulmonary fibrosis (IPF).
The fast track process is designed to facilitate the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need. The purpose is to get important new drugs to the patient earlier. A fast track drug must show some advantages over available therapy, such as the potential for superior effectiveness or an improved effect on serious outcomes.
MBS2320 is a first-in-class investigational drug which is currently in clinical development for the treatment of rheumatoid arthritis (RA) where it has demonstrated a unique profile, reducing inflammation and supporting the remodelling of damaged bone. In models of IPF, MBS2320 has shown a similarly unique profile, reducing symptoms of IPF while also supporting remodelling of fibrotic tissue. A clinical study in patients with IPF will start in 2023.
The FDA has also designated MBS2320 an orphan drug for the treatment of IPF. This designation makes Istesso eligible for development incentives, including tax credits, FDA assistance with clinical trial costs, and seven years of market exclusivity in the U.S., should the treatment gain market approval.
Dr Lisa Patel, CEO and co-founder of Istesso, comments: "This fast track designation reflects the pressing need for new treatments to help patients with IPF. At Istesso we are committed to creating genuine improvements in patients' health and quality of life. This fast-track designation is an important milestone that will help us advance MBS2320 to patients with this debilitating and life-threatening condition more rapidly".
IP Group has an undiluted holding of 56% in Istesso.
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Liz Vaughan-Adams, Communications | +44 (0) 20 7444 0062/+44 (0) 7967 312125 |
Charlotte Street Partners | |
David Gaffney | +44 (0) 7854 609998 |
Andrew Wilson | +44 (0) 7810 636995 |
Notes for editors
About IP Group
IP Group develops world-changing science and technology businesses across life sciences, technology and cleantech (through Kiko Ventures). The Group has a strong track record of success, having been the founder investor in a number of high-profile companies including Oxford Nanopore Technologies plc, and has one of the most exciting portfolios of high-growth businesses in Europe. The Group also owns Parkwalk, the UK's largest growth EIS fund manager which backs world-changing technologies emerging from the UK's leading universities and research institutions. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.
For more information, please visit our website at www.ipgroupplc.com.
About Istesso
Istesso is a clinical-stage biopharmaceutical company, developing novel drug candidates which reprogramme immune cell metabolism to treat autoimmune and inflammatory conditions. Istesso's products have applications in conditions such as Rheumatoid Arthritis, Idiopathic Pulmonary Fibrosis and Cancer.
About MBS2320
MBS2320 is an investigational, first-in-class metabolic reprogramming agent. Its unique dual mode of action, reducing inflammation and fibrosis and supporting the remodelling of tissue damage gives MBS2320 the potential to both control the disease symptoms and resolve the underlying pathology across multiple disease indications including IPF, RA and other autoimmune diseases.
About IdioPathic Pulmonary Fibrosis
IPF is a progressive, life‑threatening disease characterized by scarring of the lungs. This leads to debilitating symptoms including shortness of breath and difficulty performing routine functions, such as walking and talking. In the U.S., ~21,000 people are diagnosed with IPF per year. There remains a significant and urgent unmet need for improved treatment options; patients with IPF have an average life expectancy of approximately three to five years from diagnosis and approximately two-thirds of patients die within five years, a mortality rate comparable to some of the deadliest cancers.