Last checked at 15 Jul 2019 07:00
FOR RELEASE ON | 15 July 2019 |
IP Group plc - Portfolio company Istesso announces positive outcome from Phase 2a study of MBS2320
THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO.596/2014.
IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), the developer of intellectual property-based businesses, is pleased to note that portfolio company Istesso Limited ("Istesso") has announced positive headline results from its Phase 2a study of its investigational drug, MBS2320, for the treatment of rheumatoid arthritis ("RA").
The study was a randomised, double-blind, placebo-controlled trial for which the primary objective was to assess the safety and tolerability of MBS2320 over 12 weeks of treatment in patients receiving background methotrexate therapy. This primary objective was met, with MBS2320 being generally well-tolerated with no drug-related serious adverse events.
Amongst secondary objectives, there was evidence of clinical benefit as assessed by the American College of Rheumatology 20% response and Disease Activity Score. Evidence of benefit was also seen in exploratory endpoints of responder criteria, MRI imaging and the acute-phase reactant, C-reactive protein.
IP Group holds a direct undiluted beneficial stake of 56.4% in Istesso and is currently reviewing the carrying value of this asset as part of its half-year results process.
Alan Aubrey, Chief Executive Officer of IP Group, said: "This is a significant milestone for Istesso. It is also a great example of IP Group's approach of providing long-term support to early-stage therapeutics companies while maintaining a very significant shareholding. Istesso is focussed on the rapidly emerging field of immunometabolism and has a pipeline of assets that work by reprogramming metabolism to treat autoimmune and inflammatory conditions."
The Phase 2a study was a 12-week randomised, placebo-controlled, double-blind, multi-centre trial assessing the safety, tolerability and efficacy of MBS2320. MBS2320 is a first-in-class metabolic reprogramming agent for the treatment of RA and is distinguished from existing treatments by its dual mode-of-action that not only reduces inflammation, thereby preventing the progression of disease, but may also promote bone and joint remodelling.
For more information, please contact:
IP Group plc | www.ipgroupplc.com |
Alan Aubrey, Chief Executive OfficerGreg Smith, Chief Financial OfficerLiz Vaughan-Adams, Communications | +44 (0) 20 7444 0050+44 (0) 20 7444 0062/+44 (0) 7979 853802 |
UK - Charlotte Street Partners | |
Andrew Wilson | +44 (0) 7810 636995 |
David Gaffney | +44 (0) 7854 609998 |
Istesso Dr Sam Williams | +44 207 444 0066 |
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. 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 drug discovery and development company working in the field of immunometabolism. Istesso's products work by reprogramming cellular metabolism and have applications in autoimmune conditions such as rheumatoid arthritis and multiple sclerosis, as well as cancer. For more information please visit www.istesso.co.uk.
About rheumatoid arthritis
Rheumatoid arthritis (RA) is a chronic, progressive and disabling auto-immune disease affecting 165 million people worldwide, or one per cent of the global population. It is a painful condition that, unchecked, can cause severe disability. The disease can progress very rapidly, causing swelling and damaging cartilage and bone around the joints. Any joint may be affected but the hands, feet and wrists are most commonly involved, preventing patients from carrying out everyday tasks.
About MBS2320
MBS2320 is a first-in-class metabolic reprogramming agent for the treatment of RA and is distinguished from existing treatments by its dual mode-of-action which not only reduces inflammation, thereby preventing the progression of disease, but may also promote bone and joint remodelling.
ENDS