REG - Destiny Pharma PLC - Chair’s Investor Update

Destiny PharmaAnnouncement

28/07/2022 07:00

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RNS Number : 9784T  Destiny Pharma PLC  28 July 2022

Destiny Pharma plc

("Destiny Pharma" or "the Company")

 

Chair's Investor Update

 

Brighton, United Kingdom - 28 July 2022 - Destiny Pharma plc (AIM: DEST), a
clinical stage biotechnology company focused on the development of novel
products to prevent life-threatening infections, today announces an Investor
Update from its Chair, Nick Rodgers.

"I am delighted with the progress we are making despite a difficult stock
market, particularly in the life sciences sector, and the challenging economic
background. At the fundraising in March, we undertook to complete two key
tasks in 2022 - clarification of the XF-73 Nasal Phase 3 trial plan to prevent
post-surgical Staphylococcus aureus infections with the US FDA and a
partnering deal for our NTCD-M3 Clostridioides difficile Infections (CDI)
prevention therapy. We have progressed both tasks and look forward to further
successes during the remainder of this year.

 

XF-73 Nasal and NTCD-M3

Clarification has been received from the FDA on our XF-73 Nasal Phase 3
clinical trial plans. The details of this encouraging feedback were recently
announced on 19(th) July. Additionally, we continue to progress partnering
discussions on NTCD-M3 with the aim of announcing a deal before year end.

All the clinical data and competitor analyses we have reviewed and the market
research we have undertaken gives us great confidence that both XF-73 and
NTCD-M3, when approved by regulators, will deliver significant patient
benefits and clear cost savings to hospitals and payers by reducing the
incidence and expense of treating these life-threatening infections. Moreover,
both have reported excellent Phase 2 clinical and safety data and show robust
commercial models with the potential to generate over one US$ billion in peak
sales.

I am particularly pleased that, within two years, we have been able to advance
NTCD-M3 from its acquisition in November 2020 and develop the package through
our expert regulatory, clinical and manufacturing efforts and are now close to
delivering a partnering deal.  This is in line with the Company's stated
strategy of seeking partners to help co-fund the required Phase 3 development
of our lead assets and lead the commercialization.

Other activity

While our focus remains on our two Phase 3 products we have sought to advance
other aspects of our pipeline. Recently, we secured funding from the Cystic
Fibrosis Foundation and also started a new research project targeted at Oral
Mucositis. Our China partner, China Medical Systems, is carrying out
pre-clinical work on their own XF-73 Dermal programme and SPOR-COV, our
collaboration with SporeGen to develop a novel nasal spray to prevent viral
respiratory infections, including COVID-19 and influenza, is in an exciting
stage having almost completed the grant funded work.

I am extremely positive on the future of Destiny Pharma and I believe that our
products can have a major impact in reducing infections worldwide and reduce
healthcare costs. Our commitment to infection prevention is more relevant than
ever and we have a very large opportunity to create significant value for our
stakeholders including patients, healthcare systems and payers."

Nick Rodgers

Chair

For further information please contact:

 

Destiny Pharma plc
Neil Clark, CEO

Shaun Claydon, CFO

+44 (0)1273 704 440
pressoffice@destinypharma.com
(https://www.destinypharma.com/2022/05/26/26-may-2022-destiny-pharma-plc-board-changes/blank)

 

Optimum Strategic Communications  (https://www.optimumcomms.com/)

Mary Clark / Manel Mateus / Eleanor Cooper

+44 (0) 203 922 0891
DestinyPharma@optimumcomms.com
(https://www.destinypharma.com/2022/05/26/26-may-2022-destiny-pharma-plc-board-changes/blank)

 

finnCap Ltd (Nominated Advisor and Broker)
Geoff Nash / Kate Bannatyne / George Dollemore, Corporate Finance

Alice Lane / Nigel Birks / Harriet Ward, ECM

+44 (0) 207 220 0500

 

MC Services AG
Anne Hennecke / Andreas Burckhardt

+49-211-529252-12

 

About Destiny Pharma

Destiny Pharma is a clinical stage, innovative biotechnology company focused
on the development of novel medicines that can prevent life-threatening
infections. Its pipeline has novel microbiome-based biotherapeutics and XF
drug clinical assets including NTCD-M3, a Phase 3 ready treatment for the
prevention of C. difficile infection (CDI) recurrence which is the leading
cause of hospital acquired infection in the US and also XF-73 nasal gel, which
has recently completed a positive Phase 2b clinical trial targeting the
prevention of post-surgical staphylococcal hospital infections including MRSA.
It is also co-developing SPOR-COV(TM), a novel, biotherapeutic product for the
prevention of COVID-19 and other viral respiratory infections and has earlier
grant funded XF drug research projects.

For further information on the company, please visit www.destinypharma.com
(https://www.destinypharma.com)

 

Forward looking statements

 

Certain information contained in this announcement, including any information
as to the Group's strategy, plans or future financial or operating
performance, constitutes "forward-looking statements". These forward-looking
statements may be identified by the use of forward-looking terminology,
including the terms "believes", "estimates", "anticipates", "projects",
"expects", "intends", "aims", "plans", "predicts", "may", "will", "seeks"
"could" "targets" "assumes" "positioned" or "should" or, in each case, their
negative or other variations or comparable terminology, or by discussions of
strategy, plans, objectives, goals, future events or intentions. These
forward-looking statements include all matters that are not historical facts.
They appear in a number of places throughout this announcement and include
statements regarding the intentions, beliefs or current expectations of the
Directors concerning, among other things, the Group's results of operations,
financial condition, prospects, growth, strategies and the industries in which
the Group operates. The directors of the company believe that the expectations
reflected in these statements are reasonable but may be affected by a number
of variables which could cause actual results or trends to differ materially.
Each forward-looking statement speaks only as of the date of the particular
statement. By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on circumstances that
may or may not occur in the future or are beyond the Group's control. Forward
looking statements are not guarantees of future performance. Even if the
Group's actual results of operations, financial condition and the development
of the industries in which the Group operates are consistent with the
forward-looking statements contained in this document, those results or
developments may not be indicative of results or developments in subsequent
periods. This information is provided by RNS, the news service of the London
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