REG - Vela Technologies - Update re. St George Street Capital COVID-19 trial

Vela TechnologiesAnnouncement

18/08/2022 10:00

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RNS Number : 4654W  Vela Technologies PLC  18 August 2022

18 August 2022

 

Vela Technologies plc

 

("Vela" or "the Company")

 

Update re. St George Street Capital Ltd

 

Lancet Review for ARCADIA Phase 2 Clinical Trial

 

The Board of Vela (AIM: VELA), an AIM-quoted investing company focused on
early-stage and pre-IPO disruptive technology investments, notes that St
George Street Capital Ltd ("SGSC"), has today announced the publication in
Lancet eClinicalMedicine of details of the ARCADIA clinical trial which
investigated AZD1656 for people with diabetes and COVID-19.

 

Vela holds an economic interest in the commercialisation of AZD1656, details
of which were included in the announcement published by Vela on 20 October
2020.

 

Highlights:

·      ARCADIA trial investigated AZD1656 for people with diabetes
hospitalised with COVID-19.

·      Patients in the AZD1656 arm were observed to have lower mortality
and AZD1656 was shown to have immunomodulatory capability (as predicted).

·      The article in The Lancet, one of the world's leading
peer-reviewed medical journals, can be found at
https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(22)00334-0/fulltext
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.thelancet.com%2Fjournals%2Feclinm%2Farticle%2FPIIS2589-5370(22)00334-0%2Ffulltext&data=05%7C01%7C%7C2d715e2802ac4992a26c08da80f41280%7Cfc69750aedcc43bebd5b2cbe6f8d8c37%7C0%7C0%7C637964083020317872%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2FttDPa3KEYdcNiaI7OPDWT1gh3Z5PGlmc5NIN8qtovI%3D&reserved=0)

·      Vela notes the statement from SGSC that 'the evidence presented
here suggests that specific activation of Tregs might suppress the
inappropriate inflammation which is the prime cause of tissue damage in
autoimmune disease.' This reinforces the mode of action will potentially work
in a wide range of autoimmune diseases.

·      SGSC is continuing to have discussions with potential partners
regarding AZD1656.

 

 

Extract from SGSC press release

 

St George Street is pleased to announce the publication in Lancet
eClinicalMedicine of our Phase 2 clinical trial, ARCADIA, which investigated
AZD1656 for people with diabetes hospitalised with COVID-19. Patients in the
AZD1656 arm were observed to have lower mortality; additionally, AZD1656 was
shown to have immunomodulatory capability, as predicted. The paper also
details our sub-group analysis of patients considered to be at higher risk of
worse COVID-19 outcomes, either with elevated IL-6 or those with low Vitamin D
status. As surmised in the paper: "the evidence presented here suggests that
specific activation of Tregs might suppress the inappropriate inflammation
which is the prime cause of tissue damage in autoimmune disease."

 

St George Street is continuing to have discussions with potential partners
regarding AZD1656.

 

The Lancet article can be found at
https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(22)00334-0/fulltext
(https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.thelancet.com%2Fjournals%2Feclinm%2Farticle%2FPIIS2589-5370(22)00334-0%2Ffulltext&data=05%7C01%7C%7C2d715e2802ac4992a26c08da80f41280%7Cfc69750aedcc43bebd5b2cbe6f8d8c37%7C0%7C0%7C637964083020317872%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=%2FttDPa3KEYdcNiaI7OPDWT1gh3Z5PGlmc5NIN8qtovI%3D&reserved=0)

 

For further information, please contact:

 

 Vela Technologies plc                                      Tel: +44 (0) 7421 728875

 Brent Fitzpatrick, Non-Executive Chairman

 James Normand, Executive Director

 Allenby Capital Limited (Nominated Adviser)                Tel: +44 (0) 20 3328 5656
 Nick Athanas / Piers Shimwell

 Peterhouse Capital Limited (Broker)                        Tel: +44 (0) 20 7469 0930
 Lucy Williams / Duncan Vasey / Eran Zucker / Lauren Riley

 Novus Communications (PR and IR Adviser)                   Tel: +44 (0) 20 7448 9839
 Alan Green / Jacqueline Briscoe

 

About Vela Technologies

 

Vela Technologies plc (AIM: VELA) is an investing company focused on early
stage and pre-IPO long term disruptive technology investments. Vela's
investee companies have either developed ways of utilising technology or are
developing technology with a view to disrupting the businesses or sector in
which they operate. Vela Technologies will also invest in already-listed
companies where valuations offer additional opportunities.

 

 

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