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Cyxone AB and the University of Queensland in Australia are launching a co- operation agreement to continue studies into the effects of Cyxone's T20K development substance in combating MS.
Cyxone has signed an agreement with the University of Queensland to study how "therapeutic dosing" with T20K can inhibit the development of fresh MS symptoms in treated animals. The programme will seek to identify the conditions for early treatment with T20K in humans, and is included in the documentation that forms the basis for further studies in humans.
The co-operation agreement covers several studies in 2017, and has a total budget of approximately SEK 1 million.
The research group at the University of Queensland has extensive experience of studies in the MS-mice model, and the work will be followed-up on site by Dr. Christian Gruber, who heads Cyxone's scientific board.
Through the co-operation agreement with the University of Queensland, we feel confident of achieving high quality results with T20K for Cyxone's continued development.
For more information, please contact:
Cyxone AB (publ.)
Kjell G. Stenberg, CEO
Tel: +46 (0) 723 816 168
211 22 Malmö
This information is information which Cyxone AB (publ) is obliged to publish under the EU Market Abuse Regulation. The information was provided by the auspices of the above contact person, for publication on June 7, 2017.
About Cyxone Cyxone AB (publ.) is a biopharmaceutical company that develops drugs based on cyclotides, a class of natural plant protein. Cyclotide technology has the potential to provide new drugs with beneficial pharmacological effects on diseases that currently lack safe and effective treatments. The company is focusing on the development of T20K, a substance that inhibits key processes in cells that are typically associated with various immune disorders, such as multiple sclerosis and rheumatoid arthritis. Cyxone's Certified Adviser on the Nasdaq First North is Erik Penser Bank.
As previously announced, Cyxone acquired Rabeximod from OxyPharma in June 2017. Rabeximod has undergone Phase 2 trials in patients with moderate to severe rheumatoid arthritis in which significant improvements in the condition's symptoms were discovered four weeks after the completion of the formal (12 week) trial period.
Cyxone has analysed the Rabeximod that was previously manufactured by OxyPharma for clinical trials at Syntagon AB. Results show that the existing substance, despite having been stored for several years, can be used in Cyxone's upcoming Phase 2b study in patients with rheumatoid arthritis.
Period (July 1 to September 30, 2017)
- Operating revenue KSEK 0 (0)
- Income after financial items KSEK -1,518 (-1,235)
- Earnings per share SEK -0,10 (-0,10) Cash and cash equivalents as of September 30 KSEK 25,662 (23,468)
- Equity ratio as of September 30 95.2% (97.7%)
Period (January 1 to September 30)
- Operating revenue KSEK 0 (0)
- Income after financial items KSEK -5,593 (-2,860)
- Earnings per share SEK -0,36 (-0,22)
In collaboration with the Medical University of Vienna, Cyxone is set to conduct a study into inflammatory bowel disease involving a cyclotide in established animal models. The study will begin early in 2018.
Cyxone has licensed patent applications at various stages of approval in Europe, North America and Australia. In the US, our patent is approved and in other markets patent applications are well on the way to being approved. In Australia, our patent application was accepted in July, since when the company has submitted a final version and paid the required approval fee.
Due to the interview conducted with Cyxone's CEO by BioStock/Monocl on Thursday, September 28, the company wishes to clarify references made about the extent to which two Phase 2 trials may be equated with a Phase 3 trial.
The subscription period to purchase warrants in TO 2 ended on September 29, 2017, and during the period, 2,467,119 warrant options were exercised for the equivalent number of shares, corresponding to a subscription ratio of around 98.7%. Cyxone thereby receives some SEK 12.3 million before issue costs.