Evgen Pharma PLC (AIM:EVG) chief executive, Dr Huw Jones, described the year just gone as one of “substantial progress”.
Key to that progress was the inking of a deal worth up to £129mln ($160mln) with STALICLA SA.
The Swiss group wants to assess the potential of Evgen’s sulforaphane-based medicines in the treatment of neurodevelopmental disorders and schizophrenia.
A total of £4.4mln ($5.5mln) in milestone payments are expected from collaboration “within 2024”, Evgen confirmed.
Busy schedule
Looking ahead, the group is gearing up for an eventful year with a host of clinical trials and research findings on the horizon.
The significant plans include launching clinical trials targeting autism spectrum disorder and glioblastoma within the next twelve months, in collaboration with its partners.
In the second and third quarters of 2023, the company anticipates the release of the complete data set from its phase I/Ib study involving healthy volunteers.
This will provide further insights into the safety and efficacy of Evgen's investigative treatments.
By the end of 2023, Evgen also expects to share research data from its pre-clinical investigations into breast cancer, colorectal cancer and radio-sensitisation.
Data read-out
This data will offer key understandings about Evgen's drug potential in these crucial therapeutic areas, investors were told.
The update was carried alongside results for the 12 months ended March 31, 2023 – figures that showed the company posted a pre-tax loss of £4mln as it invested heavily in research and development work.
More pertinently, it exited the period with £5mln in the bank.
"The last year has seen substantial progress in both our science and in our stated aim of out-licensing our technology in cash-generating partnerships,” said CEO Dr Jones. “Of particular note is our partnership with STALICLA in autism spectrum disorder that could generate substantial non-dilutive income over a long period.”