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Igraine Plc - Update: ARCADIA Trial Results

·3-min read

THE DIRECTORS OF IGRAINE PLC CONSIDER THIS ANNOUNCEMENT TO CONTAIN INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO. 594/2014 OF THE EUROPEAN PARLIAMENT AND THE COUNCIL OF 16 APRIL 2014 ON MARKET ABUSE AS IT FORMS PART OF RETAINED EU LAW AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. BY PUBLICATION OF THIS ANNOUNCEMENT, THE INFORMATION SET OUT WITHIN IT IS DEEMED NOW TO BE IN THE PUBLIC DOMAIN.

Igraine Plc
AQSE: KING
(“Igraine” or the “Company”)

Excalibur Medicines Ltd (“EML”) Update: ARCADIA Trial Results

Particulars of the RIS Announcement

1. EML Investment Interest

2. ARCADIA Trial Results Update

3. Executive Director Statement, Martin Walton

1. EML Investment Interest

Igraine plc secured a 2% equity interest in Excalibur Medicines Ltd (“EML”) in June 2021. Excalibur Medicines Ltd (“EML”) has secured exclusive rights to and owns the patents on a drug, AZD1656, which is being developed as a potential therapeutic for people with diabetes suffering from COVID-19. The ARCADIA trial which took place across 31 sites was completed in July this year.

As there are very few new therapeutics in development for COVID-19 and associated virally transmitted diseases (most research is in combining existing treatments) this has the potential to be highly attractive to big pharma and biotech buyers. Further, if the trials are successful, it is likely the drug will be effective for the general population in COVID -19 and in other respiratory diseases.

It is the intention of EML to seek a sale of the drug, a license or partnership deal as soon as possible after the complete data is published.

2. ARCADIA Trial Results Update

Consistent with the announcement the company made on the 18th August 2021, (see link to press release here) the Directors of Igraine plc have been informed by EML that the clinical team at SGS are preparing to provide all stakeholders [of which Igraine are a shareholder of EML] with the preliminary results of the ARCADIA trial.

Once the Board of Igraine receives the preliminary results (scheduled for circulation this week), the company will publish a market release to this effect.

The preliminary findings relate primarily, to the safety and efficacy of AZD1656 in the patients receiving the drug in the trial, as compared to the patients receiving the placebo. The drug must be shown to be safe (“tolerated safely”) in patients or there can be no further development. Efficacy relates to the effectiveness of the drug in treating the symptoms of the patients, and the trial seeks to establish this by analysing a number of different effects to establish which patients with which particular symptoms, benefit. The preliminary findings give indications of this; there is however additional laboratory analysis to do which further clarifies this, drilling down into great detail; this takes an additional few weeks.

Post-Receipt of Preliminary Findings:

The preliminary findings should provide sufficient evidence to allow EML and the clinical team at SGS to evaluate the likely commercial channels for the next stage of development for AZD1656. This could include outright sale to, or partnerships with large pharma or biotech companies, raising additional external financing to fund future development, discussions with regulators, and more.

These will occur while the final definitive report is completed, which includes specific detail such as immunophenotyping data on each patient treated

3. Executive Director, Martin Walton commented,

I am pleased to announce an update in respect of the ARCADIA Trial as the preliminary results of the trial are evaluated in readiness for publication. The company looks forward to providing a further news release later this week upon receiving all relevant stakeholder clearances.”

The Directors of the Company, who have issued this RIS announcement after due and careful enquiry, accept responsibility for its content.

Enquiries

Company:
Martin Walton (Executive Director)
Steve Winfield (Executive Director)
info@igraineplc.com

AQSE Growth Market Corporate Adviser

Peterhouse Capital Limited
Guy Miller / Allie Feuerlein
Tel: +44 (0) 207 469 0930

Media inquiries:

Ramsay Smith, Media House International
ramsay@mediahouse.co.uk: +44 (0) 7788414856

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