Nanoco Regulatory News (NANO)

3 Jan 2007 07:00

Evolutec Group PLC03 January 2007 Wednesday 3 January 2007 Evolutec Group plc ("Evolutec" or "Company") Primary Endpoint Not Met in Phase II rEV131 Trial in Post-Cataract Inflammation Evolutec Group plc (AIM: EVC), the biopharmaceutical company developing novelproducts for the treatment of allergic, inflammatory and autoimmune diseases,announces that rEV131 did not meet its primary endpoint in the Phase IIpost-cataract inflammation trial. In the trial, rEV131, dosed twice-a-day, was compared to prednisolone, thestandard of care, dosed four times-a-day, and placebo. The primary endpoint wasinflammation 14 days after cataract surgery. There were no significantdifferences between rEV131 and placebo whereas prednisolone performed asanticipated. Evolutec will announce its preliminary results for 2006 on 27 February 2007 andexpects to report cash and held-to-maturity investments as at 31 December 2006of £8.7 million. Mark Carnegie Brown, Chief Executive of Evolutec, said: "Following thisdisappointment, no more investment will be made by Evolutec in rEV131. Whilstwe continue to explore partnering opportunities with rEV576, all strategicoptions to realise value for shareholders are under consideration. rEV576 hasdemonstrated exciting preclinical results in myasthenia gravis andGuillain-Barre Syndrome where there are currently no curative therapies." Enquiries: Evolutec 0118 922 4480Mark Carnegie Brown, Chief Executive OfficerNicholas Badman, Chief Financial Officerwww.evolutec.co.uk Financial Dynamics 020 7831 3113David YatesBen Brewerton Notes for Editors: About Evolutec Evolutec, which is based in Reading, UK, is a clinical stage biopharmaceuticalcompany with a focus on allergy, inflammation and auto-immune diseases. rEV576, the Company's second product development candidate is a complementinhibitor which has demonstrated preclinical activity against the autoimmunediseases myasthenia gravis and Guillain-Barre Syndrome, asthma and acutemyocardial infarction ("AMI") (heart attack). Evolutec has established aresearch collaboration with Case Western Reserve University, Cleveland, Ohio, toundertake further preclinical work with rEV576 in myasthenia gravis. The Companyexpects to commence clinical trials with rEV576 in 2007. The rights to Evolutec's vaccine technology for animals are partnered withMerial. Merial is currently undertaking work in tick-borne diseases. Evolutec is listed on the AIM market of the London Stock Exchange and developstherapeutics originally isolated from the saliva of ticks. The tick remainsundetected by its hosts, including humans, by injecting an array of moleculesinto the skin that suppresses host immunity. These stealth molecules haveundergone millions of years of natural evolution to select a promising efficacy,potency and safety profile. Evolutec employs the tick's evolutionary stealthtechnology to offer the potential of treating human diseases. This information is provided by RNS The company news service from the London Stock Exchange