27 September 2017

Synairgen plc - Interim results for the six months ended 30 June 2017 

 

Southampton, UK – 27 September 2017: Synairgen plc (LSE: SNG), the respiratory drug discovery and development company, today announces its unaudited interim results for the six months ended 30 June 2017.

Highlights (including post period-end)

Operational

  • AZD9412 (SNG001) INEXAS clinical trial update, announcing AstraZeneca’s decision to return the rights of inhaled interferon beta (IFN-beta) to Synairgen for strategic reasons, despite positive effects on markers of antiviral activity and lung function
  • Exploratory analysis of INEXAS data in patients with a confirmed viral infection revealed significant findings in both lung function and asthma control (see separate press release issued today)
  • Strategy for SNG001 to move into the substantial Chronic Obstructive Pulmonary Disease (COPD) market and a Phase II trial is planned (see separate press release issued today)
  • Good progress made with Lysyl oxidase-like 2 enzyme (LOXL2) inhibitor programme in collaboration with Pharmaxis following additional positive data generated from two preclinical models of idiopathic pulmonary fibrosis (IPF)
  • Following successful completion of preclinical pharmacology and toxicology studies, PXS-5382A, a compound from the anti-fibrotic LOXL2 inhibitor programme, is now being prepared to commence Phase I clinical development

Financial

  • Research and development expenditure of £1.09 million (30 June 2016: £1.15 million) as the Company advanced the ongoing LOXL2 collaboration with Pharmaxis through pre-clinical studies
  • The loss from operations for the six months ended 30 June 2017 was £1.58 million (30 June 2016: £1.69 million loss)
  • Cash and bank deposits of £3.08 million (30 June 2016: £6.31 million)

“We are extremely excited by the positive findings from the INEXAS Phase II trial in asthma which support our progression of SNG001 into Phase II clinical studies in COPD. In addition, our collaboration with Pharmaxis has made great progress and we are looking forward to entering the clinic with PXS-5382A.”

Richard Marsden

CEO of Synairgen

-Ends-

 

 

For further information, please contact:

Synairgen plc                                                              Tel: +44 (0) 23 8051 2800

Richard Marsden, Chief Executive Officer

John Ward, Finance Director

FinnCap (NOMAD)                                                       Tel: +44 (0) 20 7220 0500

Geoff Nash, James Thompson (Corporate Finance)

Stephen Norcross, Simon Johnson (Corporate Broking)

Consilium Strategic Communications (Financial Media and Investor Relations)

Mary-Jane Elliott / Sue Stuart / Laura Thornton

synairgen@consilium-comms.com                                 Tel: +44 (0) 20 3709 5701

 

 

Notes for Editors

About Synairgen

Synairgen is a respiratory drug discovery and development company founded by University of Southampton Professors Stephen Holgate, Donna Davies and Ratko Djukanovic. The business, focused primarily on asthma and COPD, uses its differentiating human biology BioBank platform and world-renowned international academic KOL network to discover and develop novel therapies for respiratory disease. Leveraging its scientific and clinical facilities at Southampton General Hospital, the Company uses in vitro and ex vivo models to progress opportunities into clinical development. The BioBank of human samples is used in these models to increase confidence in the likelihood of successful drug development. Core to Synairgen’s business strategy is the realisation of value via licensing transactions. In August 2015 the Company entered into a collaboration with Pharmaxis to develop an oral LOXL2 inhibitor to reduce fibrosis in patients with idiopathic pulmonary fibrosis (IPF). Synairgen is quoted on AIM (LSE: SNG). For more information about Synairgen, please see www.synairgen.com

 

 

                                                              *** Please click here to read the full results release ***


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