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Synairgen on schedule with all of its drug programmes

Published: 11:12 22 Sep 2016 BST

a child with asthma using an inhaler
235mln people around the world are affected by asthma

Drug discovery firm Synairgen plc (LON:SNG) has told investors that all of its current drug programmes are on target to meet their respective schedules.

AstraZeneca’s (LON:AZN) Phase II clinical trial with AZD9412, a prospective treatment for asthma and chronic obstructive pulmonary disease (COPD), “continues to progress well”, said Synairgen.

The AIM-listed firm added that results from the trial are on track to read out next year.

Synairgen partnered with the pharma giant back in 2014 to advance the inhaled beta interferon drug, formerly known as SNG001, through the various trials and over the regulatory hurdles.

The company said it was also “very encouraged” by the collaboration with Pharmaxis to develop an oral treatment for patients with fibrotic conditions, such as idiopathic pulmonary fibrosis (IPF).

The LOXL2 inhibitor is on course to start a Phase I clinical trial in 2017 as well, with early data providing in vitro proof of concept.

“We are pleased with the progress we have made over the past six months, including the clinical progress AstraZeneca is making with our primary asset AZD9412,” said chief executive Richard Marsden.

“In addition, there has been good momentum with our collaboration with Pharmaxis, who continue to advance the development of an oral LOXL2 inhibitor to treat patients with lung fibrosis.”

Synairgen said it will continue to look for new development opportunities in the second half of the year, ideally ones that are close to the clinical trial stage.

It added that Brexit may have a short term effect on LOXL2 costs, as chemistry work is paid for in Australian dollars and manufacturing in US dollars.

In the six months ended 30 June, research and development expenditure increased to £1.15mln (1H 2015: £0.48mln) as Synairgen advanced the LOXL2 collaboration alongside Pharmaxis.

The company posted a loss from operations for the period of £1.69mln (1H 2015: £1.04mln loss) and had £6.3mln in cash and bank deposits as of 30 June.

Shares were down 3% to 34p.

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Synairgen PLC (AIM:SNG, OTC:SYGGF) chief executive Richard Marsden speaks to Thomas Warner from Proactive London about the company's ongoing efforts to develop what he describes as a "drug to help patients handle respiratory viruses." He explains that work on the drug long predates the COVID...

on 21/9/23