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Ergomed at heart of battle against coronavirus

Snapshot

  • Ergomed is a fast-growing pharmaceutical services company
  • Company has clinical trial arm and pharmacovigilance business
  • It is running a trial in Italy to help identify treatments for coronavirus
Ergomed PLC -

Quick facts: Ergomed PLC

Price: 475 GBX

AIM:ERGO
Market: AIM
Market Cap: £229.6 m
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What it does

Ergomed PLC (LON:ERGO) provides custom made solutions in every stage of development, from proof of concept to late-stage programmes, to the pharmaceutical industry and the development of new drugs.

It has three arms: a full-service clinical research services division, a specialised orphan drug development team and PrimeVigilance, which provides pharmacovigilance and medical information services.

In response to the pandemic, the firm has engaged in trials for two antibodies, namilumab (IZN-101) and siltuximab. Interim data on the latter, an approved rheumatoid arthritis option, showed that 33% of patients saw clinical improvement, with a reduced need for oxygen support, while 43% stabilised.

Namilumab is a monoclonal antibody therapy targeting granulocyte-macrophage colony-stimulating factor (GM-CSF), a pro-inflammatory immune response or cytokine that plays a central role in a broad range of immune-mediated diseases.

Ergomed said the cytokine has been found in higher levels of COVID-19 intensive care patients and early treatment to suppress it might help halt the progress of coronavirus related illness.

 

How it is doing

In the quarter to June, the firm continued to grow its order book across the business as all staff worked from home with minimal disruption and no redundancies or furlough.

In May its pharmacovigilance division PrimeVigilance signed a collaboration deal with Automation Anywhere and DataRobot to accelerate its intelligent automation strategy. PrimeVigilance completed a proof of concept and started to implement a cloud software solution to automate specific pharmacovigilance processes.

 

What the boss says: Miroslav Reljanović, executive chairman

"The company has continued to make good strategic progress this year, with further integration of the combined business under the pharmaceutical services model. The Ashfield Pharmacovigilance business, acquired in January 2020, has been integrated in line with plans as PrimeVigilance USA, providing significant commercial benefit to the group overall. Cash generation remains strong."

 

Video

 

Inflexion points

  • Bergamo trial is raising the group’s profile globally
  • Before the virus outbreak results were improving rapidly
  • Cash of £14.3mln

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