Series B Fund Raise by partner, Stalicla SA
16/01/2024 15:07
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RNS Number : 8899Z Evgen Pharma PLC 16 January 2024
Evgen Pharma plc
("Evgen" or "the Company" or "the Group")
Evgen Notes First Closing of Series B Fund Raise by Partner, Stalicla SA
Alderley Park, UK - 16 January 2024: Evgen Pharma plc (AIM: EVG, Evgen), a
clinical stage drug development company developing sulforaphane-based
medicines, notes that Stalicla SA, its partner in autism spectrum disorder
(ASD) and other neurodevelopmental disorders has announced that it has raised
$17.4m inclusive of a credit facility to support programmes on STP1 their
first asset in Autism Spectrum Disorder (ASD) and a further asset in Substance
Use Disorders (SUD) together with a biosampling and patient identification
study in ASD.
Evgen continues to work with Stalicla on delivery of a milestone payment for
SFX-01 (Stalicla's STP2). The companies are engaged in analysis and
interpretation of Evgen's recent Phase 1b healthy volunteer PK/PD study and
the implications for a future Phase 2 trial in ASD. The Company will provide
updates on the status of the programme in due course and has not anticipated
any milestone payments from Stalicla in its financial forecasting.
Dr Huw Jones, Evgen CEO commented:
"We extend our congratulations to Stalicla on this round of financing and look
forward to continuing discussions on SFX-01 in ASD. In the meantime we
continue to advance our internal programme in glioblastoma with the Erasmus
medical centre in Rotterdam, NL and our pre-clinical programmes in
rhabdomyosarcoma, glioblastoma, bowel cancer and breast cancer with our
leading academic collaborators."
-Ends-
Enquiries:
Evgen Pharma plc +44 1625 466591 (tel:%204401625466591)
Dr Huw Jones, CEO
Toni Hänninen, CFO
Dr Helen Kuhlman, CBO
Cavendish (Nominated Advisor and Broker) +44 20 7220 0500
Geoff Nash / Teddy Whiley (Corporate Finance)
Nigel Birks (ECM)
Instinctif Partners +44 207 457 2020
evgen@instinctif.com
Melanie Toyne-Sewell / Jack Kincade
About Evgen Pharma plc
Evgen Pharma is a clinical stage drug development company developing
sulforaphane based medicines for the treatment of multiple diseases. The
Company's core technology is Sulforadex®, a method for synthesising and
stabilising the highly biologically active compound sulforaphane and novel
proprietary analogues based on sulforaphane.
The Company's lead asset, SFX-01, is a patented composition of synthetic
sulforaphane and alpha-cyclodextrin and has undergone clinical trials for
oestrogen-positive (ER+) metastatic breast cancer and recently a Phase 1b
study of the Company's new enteric coated tablet formulation. The FDA has
granted Orphan Drug status to SFX-01 in malignant glioma. SFX-01 will be
investigated initially in this indication as an investigator sponsored study
in the Netherlands supported by a substantial non-dilutive grant.
The Company also has a wide number of collaborations with leading academic
centres in the UK, Europe and the US as part of the continuing strategy to
build the scientific data for the compound. Recently, Evgen completed an
out-licensing transaction with Stalicla SA, a Swiss specialist company in
neurodevelopmental disorders, commencing with autism spectrum disorder. The
deal, if successful, will generate milestone payments of $160.5m and a
double-digit royalty on sales.
The Company has its headquarters and registered office at Alderley
Park, Cheshire. It is listed on AIM in London and trades under the ticker
symbol EVG.
For further information, please visit: www.evgen.com (http://www.evgen.com)
.
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