Evgen Pharma PLC (AIM:EVG)'s interim results statement outlines a period of "substantial progress" for the clinical-stage biopharma company, which is focused on sulforaphane-based medicines for treating multiple diseases.
Among the highlights was the successful completion of its phase I/Ib study for SFX-01, in healthy volunteers, which uncovered no serious adverse events and verified the release of the drug from enteric-coated tablets.
Additionally, the company secured approximately €600,000 in non-dilutive funding for glioblastoma research, in collaboration with Erasmus University Medical Center in Rotterdam, Netherlands.
Further, a partnership with the University La Sapienza di Roma revealed that SFX-01 enhances the effectiveness of radiotherapy in treating rhabdomyosarcoma, a form of cancer, in lab-based models.
Post-period, discussions are ongoing with partner Stalicla SA for the design of a phase II study in autism spectrum disorder.
Moreover, further gene expression analysis related to the phase I/Ib study has been commissioned, aiming to explore the data set for changes after exposure to SFX-01.
For the six months ended 30 September 2023, Evgen made a loss of £1.5 million, reflecting the investment it has made into R&D activities.
More importantly, it exited the period well-funded with £3.7 million on the balance sheet.
"In conclusion, we continue to be well positioned to commercialise the potential of SFX-01 across various indications through our own studies and in many productive collaborations," said chief executive Dr Huw Jones.