Plethora Solutions Holdings Plc Regulatory News (PLE)

26 Sep 2005 07:00

Plethora Solutions Holdings PLC26 September 2005 For Immediate Release 26 September 2005 PLETHORA SOLUTIONS HOLDINGS PLC Acquires new product for the treatment of Interstitial Cystitis and Chronic Pelvic Pain Plethora Solutions Holdings PLC ("Plethora" or the "Company", AIM : PLE) ispleased to announce that it has acquired worldwide exclusive rights to a newproduct, PSD597, for the treatment of interstitial cystitis and pelvic painunder a royalty payments-based agreement. PSD597 is based on intellectual property developed by Dr Richard Henry ofQueen's University in Kingston, Ontario (Canada). As with the majority ofPlethora products, it is a re-engineered formulation of a marketed drug. Thisensures a fast development track for the new indication and lowers the risk offailure for safety reasons. Interstitial cystitis (IC) is a chronic syndrome characterised by bladder andpelvic pain and increased urinary frequency and urgency. The dominant symptom ofIC is chronic pelvic pain (CPP). A UK study of almost 25,000 women found theprevalence of CPP at 38% to be comparable to that of migraine (37%) and backpain (41%). Current treatments for IC and CPP are limited in theireffectiveness. The Company therefore believes that a treatment offeringsymptomatic relief of IC/CPP would address a clear medical need and represent asignificant market opportunity. Plethora plans to initiate a Phase II placebo-controlled double-blind programmein the first half of 2006. The decision to acquire PSD597 was based on theresults of two completed clinical studies which have demonstrated that PSD597,when delivered locally into the bladder, was highly effective in reducingdebilitating pain and other symptoms in patients with interstitial cystitis. Dr Mike Wyllie, CSO of Plethora commented: "This exciting new product opportunity has already passed significantrisk-reducing steps. The product is based on the re-formulation of apreviously-marketed drug with an established safety database and preliminaryclinical studies have indicated that PSD597 has the potential to be a highlyeffective treatment for this painful condition. Plethora has the expertise tofast track the development of this drug and take it through the next stage ofclinical development." Dr Steven Powell, CEO of Plethora commented: "PSD597 is the first new product to join the Plethora portfolio since ouradmission to AIM and reinforces our focus on urology with a cross over intotreatment of pain. These trials will be funded from existing resources and welook forward to updating shareholders on the progress of this exciting newproduct in the coming months." For further information contact: Plethora Solutions Tel : 0207 269 8630Steven Powell Collins Stewart Tel : 0207 523 8350Tim Mickley Buchanan CommunicationsTim Anderson, Isabel Podda Tel : 0207 466 5000 About Plethora: Plethora is a UK-based speciality pharmaceutical company focused on thedevelopment of products for the treatment of urological disease. The company hasproducts in clinical development for the treatment of overactive bladder, benignprostatic hyperplasia, stress urinary incontinence and premature ejaculation.The company is headquartered in the UK and recently listed on the London StockExchange (AIM:PLE) This information is provided by RNS The company news service from the London Stock Exchange