http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Thu, 14 Dec 2017 09:59:31 +0000 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Collaboration with King's College London ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171213070003_13463209/ Wed, 13 Dec 2017 07:00:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171213070003_13463209/ <![CDATA[RNS press release - Hardman Res.: Funded to the end of Phase II trials ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171211071501_13460343/ Mon, 11 Dec 2017 07:15:01 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171211071501_13460343/ <![CDATA[News - Evgen Pharma raises £2.3mln to fund its two clinical trials ]]> http://www.proactiveinvestors.co.uk/companies/news/188497/evgen-pharma-raises-23mln-to-fund-its-two-clinical-trials-188497.html Evgen Pharma plc (LON:EVG) has applied a meaty discount to its shares in order to get its £2.3mln fundraiser away.

Investors who took part in the placing received new paper at 12p. The stock, which closed at 17p on Thursday after opening at 20.5p, was changing hands for around 27p in October and almost 30p in February.

READ: Evgen Pharma and the power of plants for potential drug breakthrough

The proceeds from the share sale will be used to progress two phase II clinical trials involving patients with subarachnoid haemorrhage (a type of stroke) and metastatic breast cancer.

The company in its half-yearly update said it is making “exciting progress” with the studies and will be reporting data next year.

READ: Evgen Pharma shares jump after positive updates on two Phase II clinical trials for its SFX-01 treatment

“The additional funds will provide valuable working capital as we drive forward our pioneering work in sulforaphane-based therapeutics," said chief executive Steve Franklin.

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Fri, 08 Dec 2017 07:48:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/188497/evgen-pharma-raises-23mln-to-fund-its-two-clinical-trials-188497.html
<![CDATA[RNS press release - Placing and Notice of General Meeting ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171208071501_13458766/ Fri, 08 Dec 2017 07:15:01 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171208071501_13458766/ <![CDATA[RNS press release - Interim Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171208070003_13458415/ Fri, 08 Dec 2017 07:00:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171208070003_13458415/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171123110548_13441984/ Thu, 23 Nov 2017 11:05:48 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171123110548_13441984/ <![CDATA[RNS press release - Price Monitoring Extension ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171123110034_13441975/ Thu, 23 Nov 2017 11:00:34 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171123110034_13441975/ <![CDATA[RNS press release - First European Patent Grant ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171004070005_13385022/ Wed, 04 Oct 2017 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20171004070005_13385022/ <![CDATA[RNS press release - Issue of Equity and Total Voting Rights ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170831070005_13346513/ Thu, 31 Aug 2017 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170831070005_13346513/ <![CDATA[RNS press release - SFX-01 data published in Peer Reviewed Journal ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170802130001_13317017/ Wed, 02 Aug 2017 13:00:01 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170802130001_13317017/ <![CDATA[RNS press release - AGM Statement ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170726070003_13307366/ Wed, 26 Jul 2017 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170726070003_13307366/ <![CDATA[RNS press release - Charity-funded Study of SFX-01 in TNBC ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170711123001_13291097/ Tue, 11 Jul 2017 12:30:01 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170711123001_13291097/ <![CDATA[RNS press release - Posting of Annual Report and AGM Notice ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170621100001_13268129/ Wed, 21 Jun 2017 10:00:01 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170621100001_13268129/ <![CDATA[RNS press release - Hardman Research: Making clinical progress ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170621071501_13267784/ Wed, 21 Jun 2017 07:15:01 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170621071501_13267784/ <![CDATA[RNS press release - Full Year Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170613070004_13257903/ Tue, 13 Jun 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170613070004_13257903/ <![CDATA[News - Evgen Pharma shares jump after positive updates on two Phase II clinical trials for its SFX-01 treatment ]]> http://www.proactiveinvestors.co.uk/companies/news/178638/evgen-pharma-shares-jump-after-positive-updates-on-two-phase-ii-clinical-trials-for-its-sfx-01-treatment-178638.html Evgen Pharma PLC (LON:EVG) saw its shares jump almost 12% higher this morning after the drug development company reported positive updates on two Phase II clinical trials for its SFX-01 treatment with “no safety or tolerance issues reported to date”.

In a statement, the AIM-listed group said the first patient dosed in its STEM clinical study, testing SFX-01 in the treatment and evaluation of metastatic breast is now approaching week 24 – having been treated in January – and has demonstrated “no disease progression for three consecutive scans. “

On this basis, Evgen said it has initiated a “compassionate use programme”, so that patients can continue to receive SFX-01 after week 24.

It added that STEM will now recruit 60 patients from multiple sites in the UK and from sites in up to four other European countries. 

The firm added, due to protracted regulatory submissions in France, Spain and the Czech Republic, it is now projecting the final read-out from the STEM study in the second half of calendar year 2018.

Second SAS trial site initiated at Queen Elizabeth Hospital in Birmingham

In SAS, the other Phase II trial using SFX-01 for subarachnoid haemorrhage treatment, Evgen said that  to date 34 patients have been recruited at the Southampton site, with the first dosed in May 2016, and it will recruit a total of 90 patients. 

The group noted that, in its second meeting since the start of the SAS trial, the independent Data Safety Monitoring Board also confirmed there are no safety issues attributable to SFX-01.

The company also announced that a second SAS trial site has been initiated at Queen Elizabeth Hospital in Birmingham to accelerate patient recruitment.

Evgen said it  is anticipating read-out from the SAS study around the end of calendar year 2018.

Encouraged by requirement to initiate a compassionate use programme

Dr Stephen Franklin, Evgen Pharma’s CEO said: "We are very pleased that there have been no safety or tolerance issues reported to date on either of our two Phase II trials and we are delighted to have successfully initiated a second site for the SAS trial.

“In the STEM trial, we will provide the market with an interim data analysis in the first half of calendar year 2018 and we are encouraged by the requirement to initiate a compassionate use programme."

In mid-morning trading, Evgen shares were up 11.7%, or 2.25p at 21.5p.

In a note to clients, broker Northland Capital said: “Positive news for Evgen Pharma with the Company making significant progress, despite a minor delay, in both of its phase two trails.

“There have been no safety issues or tolerance issues for either of the Phase II trials to date and final read-outs from both the studies are expected next year, a major milestone for the Company.”

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Thu, 01 Jun 2017 10:36:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/178638/evgen-pharma-shares-jump-after-positive-updates-on-two-phase-ii-clinical-trials-for-its-sfx-01-treatment-178638.html
<![CDATA[RNS press release - Compassionate Use Programme and Trials Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170601070004_13244889/ Thu, 01 Jun 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170601070004_13244889/ <![CDATA[RNS press release - Notice of Preliminary Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170525070013_13237860/ Thu, 25 May 2017 07:00:13 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20170525070013_13237860/ <![CDATA[News - Evgen Pharma soars on news of US patent grant ]]> http://www.proactiveinvestors.co.uk/companies/news/173144/evgen-pharma-soars-on-news-of-us-patent-grant-173144.html Shares in Evgen Pharma plc (LON:EVG) soared on Tuesday afternoon after the drug developer revealed it had been granted a US patent which “significantly broadens and extends [its] intellectual property” around its lead product SFX-01.

Shares were up 14% to 25p shortly before the close of play in London.

The new patent covers the manufacturing process of SFX-01 – a synthetic version of the naturally occurring compound sulforaphane – and runs until 2033.

“This patent grant extends our intellectual property protection in the world's largest pharmaceutical market and is the first of a potentially broad geographical spread of patents that are pending in Europe, Japan, India, China, Canada, Brazil and Australia,” said chief executive Stephen Franklin.

Under the terms of the licence agreement with PharmAgra Labs Inc – the US lab which invented the compound – Evgen holds the exclusive worldwide rights to the patent.

Evgen is currently conducting two phase II trials of SFX-01; one in advanced breast cancer and the other in a type of stroke called subarachnoid haemorrhage.

Today’s patent grant comes a day after Evgen signed a services agreement with a consortium of Cheshire-based drug development firms.

The group aims to help clients turn promising molecules and compounds into valued medicines, which Evgen hopes to do with SFX-01.

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Tue, 14 Feb 2017 15:56:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/173144/evgen-pharma-soars-on-news-of-us-patent-grant-173144.html
<![CDATA[RNS press release - Half Yearly Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20161205070017_013055569/ Mon, 05 Dec 2016 07:00:17 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20161205070017_013055569/ <![CDATA[RNS press release - Notice of Interim Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20161117070014_013037874/ Thu, 17 Nov 2016 07:00:14 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20161117070014_013037874/ <![CDATA[RNS press release - Grant of Options ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20161101123003_013020146/ Tue, 01 Nov 2016 12:30:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20161101123003_013020146/ <![CDATA[RNS press release - Update re SFX-01 Data at ECTRIMS 2016 ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160915070009_012966560/ Thu, 15 Sep 2016 07:00:09 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160915070009_012966560/ <![CDATA[RNS press release - Presentation of SFX-01 Data at ECTRIMS 2016 ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160908153026_012959616/ Thu, 08 Sep 2016 15:30:26 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160908153026_012959616/ <![CDATA[RNS press release - Orphan Designation in the USA in SAH ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160824151543_012942653/ Wed, 24 Aug 2016 15:15:43 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160824151543_012942653/ <![CDATA[RNS press release - Approval for Phase II Study in Breast Cancer ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160817070007_012933591/ Wed, 17 Aug 2016 07:00:07 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160817070007_012933591/ <![CDATA[News - Evgen Pharma and the power of plants for potential drug breakthrough ]]> http://www.proactiveinvestors.co.uk/companies/news/128572/evgen-pharma-and-the-power-of-plants-for-potential-drug-breakthrough-128572.html How many of us as children sat for the final five minutes of a meal pushing that last stem of broccoli around the plate to the parental refrain: ‘eat your greens, they’re good for you’?

In the 1990s a very smart chap called Paul Talalay, professor of pharmacology at Johns Hopkins School of Medicine, provided some persuasive scientific evidence that your folks were actually right.

In fact, Talalay and his team went several steps further by isolating sulforaphane, a detoxifying agent that is not only thought to be effective against cancer, but diseases such as Parkinson’s and multiple sclerosis.

So cue a raft of life-saving drugs spawned from plants, like broccoli, in the brassica family?

Well, not quite; there’s a problem. The sulforaphane molecule is only really stable at low temperatures. By low I mean a reading of around minus 20.

This, and the fact it had to be held in an inert gas, has severely limited the applications of Talalay’s breakthrough.

Now fast-forward a quarter of a century and a small company with big ambitions is hoping to make a major splash with a plant-derived drug.

For Liverpool-based Evgen Pharma's science has developed a way of stabilising a synthetic version of sulforaphane so it can be used as a mainstream pharmaceutical.

Its drug candidate, SFX-01, is being developed to treat cancer and subarachnoid haemorrhage (SAH), a rare form of stroke.

When it floated on AIM last October it raised £7mln, having received £2mln just before the IPO.

The cash ensures Evgen, led by Dr Stephen Franklin, has the financial wherewithal to complete two Phase II trials.

Patients in the first group, suffering SAH, are already being dosed.

In all 90 people will receive the treatment in what’s called a double-blind, placebo-controlled study.

The results are expected in the second quarter of 2018 – around the same time as the ‘read-out’ from Evgen’s other trial.

This second clinical study will assess the efficacy of SFX-01 in women with metastatic breast cancer.

The current front-line treatments are hormone therapies, which have a major limitation:  they don’t kill the cancer stem cells that lead to the recurrence of the disease and so patients ultimately become resistant to the medicine.

It is hoped SFX-01, by targeting cancer stem cells will overcome this resistance problem.

One can immediately see the potential in breast cancer for a combination therapy that allows sufferers to manage metastatic breast cancer as a chronic disease rather than a life sentence.

For companies that make the hormone therapies it offers the opportunity to significantly extend the time of the usefulness of the product from perhaps 12 months to many years in some cases.

Big pharma companies are very interested in SFX-01 and one even tried to buy Evgen shortly before it was floated back in December 2015.

But Franklin and his team want to deliver Phase II data on both breast cancer and SAH before concluding a licensing deal or deals.

The stroke indication offers potentially the quickest route to market as the product is likely to be given orphan status by the US Food & Drug Administration.

An orphan drug is one that offers treatment for rare and incurable ailments.

Practically, gaining orphan designation would allow SFX-01 to go on sale after the completion of Phase II trials if the drug proved efficacious and a Conditional Market Approval is gained.

It would still have to complete the final leg of clinical studies, but could be earning income at the same time.

The current funding runway gets Evgen to the conclusion of clinical trials in two indications for SFX-01, so there should be no need to come to the market - particularly at the current depressed share price.

It may apply for grants, or look for other  non-dilutive funding if the results from preclinical work on SFX-01 for multiple sclerosis is compelling.

“[The study] reads out this year and, if the results are positive, people will see the potency of the molecule relative to a drug doing US$5bn a year – the Biogen product Tecfidera,” said Franklin.

As mentioned above, the share price has drifted since listing. The fundamentals haven’t changed; if anything they have improved.

The waning popularity of the biotech sector here in the UK has had an impact.

Compounding the misery is the fact Evgen’s stock is sparsely traded, because a large base of investors who bought in under the enterprise investment scheme must hold for at least three years.

This lack of liquidity means that a modest share sale can have a disproportionate and negative impact on the company’s valuation.

The flipside of this that any good news on clinical trials is likely to prompt a rebound.

“I have always said to investors that this company will be worth a significant amount of money if one or both of these trials work,” said Franklin.

“This is what investors are backing. So anyone who comes in now should be at least waiting for the read out [of the latest clinical trials].”

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Mon, 25 Jul 2016 10:58:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/128572/evgen-pharma-and-the-power-of-plants-for-potential-drug-breakthrough-128572.html
<![CDATA[Media files - Evgen Pharma ready to prove broccoli drug's worth ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/5245/evgen-pharma-ready-to-prove-broccoli-drug-s-worth-5245.html Wed, 06 Jul 2016 16:33:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/5245/evgen-pharma-ready-to-prove-broccoli-drug-s-worth-5245.html <![CDATA[RNS press release - Result of AGM ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160624153643_012867834/ Fri, 24 Jun 2016 15:36:43 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160624153643_012867834/ <![CDATA[RNS press release - Grant of Options ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160609070006_012847040/ Thu, 09 Jun 2016 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160609070006_012847040/ <![CDATA[RNS press release - Posting of Annual Report and AGM Notice ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160602070007_012838230/ Thu, 02 Jun 2016 07:00:07 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160602070007_012838230/ <![CDATA[RNS press release - Final Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160531070016_012834019/ Tue, 31 May 2016 07:00:16 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160531070016_012834019/ <![CDATA[RNS press release - Notification of Preliminary Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160509070008_012807618/ Mon, 09 May 2016 07:00:08 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160509070008_012807618/ <![CDATA[RNS press release - First Patient Dosed in Phase II Trial ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160503070021_012799775/ Tue, 03 May 2016 07:00:21 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160503070021_012799775/ <![CDATA[RNS press release - Approval of Phase II Clinical Trial in SAH ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160302070010_012719766/ Wed, 02 Mar 2016 07:00:10 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160302070010_012719766/ <![CDATA[RNS press release - Correction: Director Share Purchases ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160119152311_012665099/ Tue, 19 Jan 2016 15:23:11 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160119152311_012665099/ <![CDATA[RNS press release - Director Share Purchases ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160119070006_012663965/ Tue, 19 Jan 2016 07:00:06 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160119070006_012663965/ <![CDATA[RNS press release - Exercise of Options ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160111070005_012652836/ Mon, 11 Jan 2016 07:00:05 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160111070005_012652836/ <![CDATA[RNS press release - Appoints Chief Medical Officer ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160104070012_012643539/ Mon, 04 Jan 2016 07:00:12 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20160104070012_012643539/ <![CDATA[RNS press release - Half Yearly Report ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151207070008_012611942/ Mon, 07 Dec 2015 07:00:08 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151207070008_012611942/ <![CDATA[News - Evgen Pharma looks to Spain for latest licensing deal ]]> http://www.proactiveinvestors.co.uk/companies/news/119552/evgen-pharma-looks-to-spain-for-latest-licensing-deal-119552.html Evgen Pharma (LON:EVG) has struck an interesting deal with the Spanish National Research Council and the University of Seville.

For a small and undisclosed upfront fee it is licensing the rights to 60 new chemical entities based on the core structure of sulforaphane, the active ingredient in the company's lead product SFX-01 for breast cancer.

Evgen said it will use its Sulforadex platform to synthesise and stabilise the newly acquired compounds.

As well as the upfront payment, the firm’s new partners will receive cash as the drug or drugs hit certain milestones. They will also receive a royalty on any sales that won’t exceed 1%.

Chief executive Stephen Franklin said: “We are delighted to acquire the exclusive worldwide licensing rights to these novel compounds.

“The University of Seville has conducted an innovative medicinal chemistry programme based on sulforaphane and, like sulforaphane, these novel compounds have a requirement for our patented stabilisation technology.

“These new compounds give us the opportunity to lead the intellectual property space around sulforaphane and to build a drug development pipeline targeting several therapeutic markets within neurology and oncology."

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Mon, 23 Nov 2015 08:20:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/119552/evgen-pharma-looks-to-spain-for-latest-licensing-deal-119552.html
<![CDATA[RNS press release - Expands Pipeline with Novel Compounds ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151123070005_012592242/ Mon, 23 Nov 2015 07:00:05 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151123070005_012592242/ <![CDATA[RNS press release - Notification of Half Year Results ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151116070009_012582520/ Mon, 16 Nov 2015 07:00:09 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151116070009_012582520/ <![CDATA[RNS press release - Notification of Major Interest in Shares ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151023114502_012552134/ Fri, 23 Oct 2015 11:45:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151023114502_012552134/ <![CDATA[News - Evgen Pharma marks premium AIM debut ]]> http://www.proactiveinvestors.co.uk/companies/news/116468/evgen-pharma-marks-premium-aim-debut-116468.html Evgen Pharma (LON:EVG) raced to a premium price on its AIM debut on Wednesday, reaching a high of 45p per share at one point.

The Liverpool-based company, which is advancing key clinical studies, including one for a possible treatment of breast cancer and one for a type of stroke, began trading on AIM on Wednesday.

Evgen’s technology, Sulforadex, is a patent-protected method of stabilising a known anti-cancer agent called sulforaphane. The company plans to establish a dominant position in new pharmaceuticals based upon sulforaphane and related analogues.

In its stock market float the company raised £7mln via an oversubscribed share placing, in which 18.9mln shares were sold at 37p each.

At that price, the whole company was valued at £27mln.

“We are delighted to be joining the AIM market and would like to thank all investors for supporting this funding round and IPO,” said Dr Stephen Franklin, Evgen chief executive.

“The fundraising proceeds will allow us to advance a Phase IIa study in breast cancer and a Phase II study in subarachnoid haemorrhage along with pre-clinical work in multiple sclerosis.

“We are very excited by the progress we are making with our Sulforadex technology, which has the potential to address orphan and major indications in multiple disease areas."

Having marked trades as high as 45p on AIM this morning, the newly listed share was priced between 37p to 38p at around 11:00 am.

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Wed, 21 Oct 2015 11:10:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/116468/evgen-pharma-marks-premium-aim-debut-116468.html
<![CDATA[RNS press release - First Day of Dealings ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151021070006_012547825/ Wed, 21 Oct 2015 07:00:06 +0100 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20151021070006_012547825/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20111219104143_011066330/ Mon, 19 Dec 2011 10:41:43 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20111219104143_011066330/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20111215085520_011063393/ Thu, 15 Dec 2011 08:55:20 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20111215085520_011063393/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20111214171912_011062861/ Wed, 14 Dec 2011 17:19:12 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20111214171912_011062861/ <![CDATA[RNS press release - Holding(s) in Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20111212160341_011060039/ Mon, 12 Dec 2011 16:03:41 +0000 http://www.proactiveinvestors.co.uk/companies/rns/14248/LSE20111212160341_011060039/