Last checked at 5 Dec 2012 07:00
Press release
Synairgen plc
('Synairgen' or the 'Company')
Trading Update
Southampton, UK - 5 December 2012: Synairgen plc (LSE: SNG), the respiratory drug discovery and development company with a particular focus on viral defence of the lungs, today announces a trading update:
On 10 August 2012, Synairgen announced its interim results for the six months ended 30 June 2012. Since the interim period-end, the Company has made significant progress and has:
·; Progressed discussions with potential licensing partners for SNG001 (inhaled interferon beta) for asthma and COPD. These discussions are ongoing with a number of potential partners and we will provide a further update with our preliminary results in Q1 2013;
·; Initiated analysis of gene and protein biomarkers in samples from the Phase II study in asthma;
·; Advanced its clinical development plan for the asthma and COPD programmes. Building on knowledge gained from Phase II in asthma, the Company is developing protocols for the Phase IIb studies needed in asthma and COPD;
·; Commenced engagement with US government to investigate potential of SNG001 as a broad spectrum antiviral. In October 2012 Synairgen submitted a competitive contract tender to the US National Institute of Allergy and Infectious Diseases, which, if successful, would result in a contract being awarded in H2 2013;
·; Expanded its patent portfolio through the grant of a US patent for compounds that induce interferon beta ('IFN-beta') to treat or prevent rhinovirus infections. This is important intellectual property as it prevents inducers of IFN-beta, such as toll receptor agonists, being developed to do the same role as SNG001; and
·; Strengthened its balance sheet with a £2.5 million (gross) fundraising in July.
Richard Marsden, Chief Executive, commented: "This has been an extremely busy period for the Company. We have significantly progressed discussions with various potential licensing partners for SNG001 in asthma and COPD and commenced biomarker and further analysis of the samples from the Phase II asthma study. In addition, the patent portfolio has been substantially enhanced. We are excited by the potential of our lead programmes and looking forward to progressing their development in 2013."
Ends
For further information, please contact:
Synairgen plc Tel: + 44 (0) 23 8051 2800
Richard Marsden, Chief Executive Officer
John Ward, Finance Director
FinnCap Tel: + 44 (0) 20 7220 0500
Geoff Nash, Christopher Raggett (Corporate Finance)
Stephen Norcross, Simon Starr (Corporate Broking)
Newgate Threadneedle Tel: + 44 (0) 20 7653 9850
Graham Herring
Josh Royston