Destiny Pharma PLC
Exclusive collaboration and co-development agreement for NTCD-M3 with Sebela Pharmaceuticals® worth up to
Partnership with Sebela will finance the future clinical development and commercialization costs of NTCD-M3 in
Destiny Pharma retains majority rights for
Key strategic target achieved for NTCD-M3
Under the terms of the deal, it is anticipated that Sebela will lead and finance the future clinical development and commercialisation activities of NTCD-M3 in
The agreement, which could be worth up to
· an initial upfront payment of
· success-based development milestones of
· sales revenues-based milestone payments up to
· tiered, double-digit royalties.
Destiny Pharma has the obligation to continue its current plan to complete the ongoing manufacture of all clinical trial supplies needed to undertake the required clinical studies. It is anticipated that Phase 3 studies will commence in 2024.
About NTCD-M3
NTCD-M3 was originally in-licensed by Destiny Pharma in November 2020 and is a naturally occurring non-toxigenic strain of C. difficile which lacks the genes that can express C. difficile toxins. It is an oral formulation of NTCD-M3 spores and patients who have taken NTCD-M3 were found to be protected from toxic strains of CDI. NTCD-M3 acts as a safe "ground cover" preventing toxic strains of C. difficile proliferating in the colon after antibiotic treatment. NTCD-M3 temporarily colonises the human gut without causing any symptoms and the gut microbiome returns to normal a few weeks after treatment.
About C. difficile
C. difficile is one of the leading causes of hospital acquired infection in the
About Sebela Pharmaceuticals®
Sebela Pharmaceuticals is a
Commenting on the announcement, Neil Clark, Chief Executive Officer of Destiny Pharma, said:
"We are very pleased to have reached this agreement with Sebela, a high quality, GI specialist company which has the necessary clinical development and commercialisation expertise to take NTCD-M3 through to launch. Such partnering deals are in line with our stated strategy of finding pharma partners to undertake the required Phase 3 clinical studies of our lead assets thus reducing the funding requirements of the Company.
"This deal is not only great news for the many thousands of patients that suffer from C. difficile infections each year but is also a tremendous endorsement of Destiny Pharma's approach. In a little over two years since acquisition, we have managed to re-activate NTCD-M3 as a very exciting and valuable clinical candidate and find a commercialisation partner in Sebela with the capabilities to implement and fund all further clinical development costs as well as funding NTCD-M3's launch and commercialisation in the key U.S. market. Destiny retains control over the rights for
Commenting on the announcement, Alan Cooke, President and Chief Executive Officer of Sebela Pharmaceuticals said:
"We are delighted to partner with Destiny Pharma to advance NTCD-M3 to Phase 3 and plan for commercialization in the
Investor Meet Presentation
DESTINY PHARMA PLC is pleased to announce that Neil Clark and Shaun Claydon will provide a live presentation via the Investor Meet Company platform on 27th Feb 2023 at 10.00am GMT.
The presentation is open to all existing and potential shareholders.
Investors can sign up to Investor Meet Company for free and add to meet DESTINY PHARMA PLC via:
https://www.investormeetcompany.com/destiny-pharma-plc/register-investor
Investors who already follow DESTINY PHARMA PLC on the Investor Meet Company platform will automatically be invited.
For further information, please contact:
Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
+44 (0)1273 704 440
pressoffice@destinypharma.com
Optimum Strategic Communications
Mary Clark / Nick Bastin / Jonathan Edwards / Eleanor Cooper
+44 (0) 7931 5000 66
DestinyPharma@optimumcomms.com
finnCap Ltd (Nominated Advisor and Joint Broker)
Geoff Nash / George Dollemore, Corporate Finance
Alice Lane / Nigel Birks / Harriet Ward, ECM
+44 (0) 207 220 0500
Shore Capital (Joint Broker)
Daniel Bush / James Thomas / Lucy Bowden
+44 (0) 207 408 4090
MC Services AG
Anne Hennecke / Andreas Burckhardt
+49-211-529252-12
Stern IR - US
Janhavi Mohite
+1-212-362-1200
Janhavi.Mohite@sternir.com
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
About Destiny Pharma
Destiny Pharma is a clinical stage, innovative biotechnology company focused on the development of novel medicines that can prevent life-threatening infections. Its pipeline has novel microbiome-based biotherapeutics and XF drug clinical assets including NTCD-M3, a Phase 3 ready treatment for the prevention of C. difficile infection (CDI) recurrence which is the leading cause of hospital acquired infection in the US and also XF-73 nasal gel, which has recently completed a positive Phase 2 clinical trial targeting the prevention of post-surgical staphylococcal hospital infections including MRSA. It is also co-developing SPOR-COVTM, a novel, biotherapeutic product for the prevention of COVID-19 and other viral respiratory infections and has earlier grant funded XF drug research projects.
For further information on the company, please visit www.destinypharma.com
Forward looking statements
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