Vela Technologies PLC Update re. St George Street Capital COVID-19 trial
11 Janeiro 2021 - 4:00AM
RNS Non-Regulatory
TIDMVELA
Vela Technologies PLC
11 January 2021
Reach- non-regulatory announcement
Vela Technologies plc
("Vela" or "the Company")
Update re. St George Street Capital Limited COVID-19 trial
The Board of Vela notes the recent update published by St George
Street Capital Limited ("SGS") and is pleased with the progress
made and the approval received in Czech Republic and Romania in
relation to its ARCADIA clinical trial to test SGS002 ("the
Asset"), a drug that could be beneficial to diabetic patients
suffering from COVID-19.
The full announcement can be found in the News segment of the
SGS website, https://www.sgscapital.org/ , and is copied below.
Details of Vela's economic interest in the potential
commercialisation of the Asset, the Asset and the ARCADIA trial
were included in the announcement published by Vela on 20 October
2020.
SGS holds 1,100,000,000 ordinary shares in Vela, representing
9.11 per cent. of Vela's issued share capital. These ordinary
shares are subject to a lock-in agreement until the successful
completion of Phase II of the ARCADIA trial, or for a period of two
months following completion of the ARCADIA trial, should the
outcome of the trials not meet the minimum threshold.
The update issued by SGS is reproduced in full below:
Covid-19 Trial Update - 04-01-21
Approval Received to Begin Recruiting in Czech Republic and
Romania
The ARCADIA clinical trial is a randomised, placebo-controlled
clinical trial to assess the safety and efficacy of AZD1656 in
patients with either Type 1 or Type 2 diabetes and admitted to
hospital with COVID-19. The trial, which is sponsored by the UK
charity St George Street, has successfully recruited 50 of the
planned 150 patients across 11 UK hospital sites over the past 3
months. To help ensure timely completion of study enrolment, the
ARCADIA trial is now expanding with the addition of approximately
23 new hospital sites over the coming weeks. In addition to 4 new
sites in the UK, up to 19 sites are to be opened in Czech Republic
and Romania. Regulatory and ethics committee approval for both new
countries was received at the end of December 2020 and the first
patients from Czech Republic and Romania are expected to be
recruited to ARCADIA before the end of January 2021.
Both Czech Republic and Romania have a high prevalence of
diabetes (10.2% and 8.8% of the population having diabetes
respectively), this compares with around 6.5% of people in the UK.
In addition, both countries have regularly reported over 100 deaths
from COVID-19 per day throughout December, indicating a high unmet
clinical need.
The decision and rapid action to obtain approval in Romania and
Czech Republic is testament to the strength of the St George Street
team and its collaborative relationships with its development
partners. St George Street is delighted to have received such rapid
regulatory approval in the two new countries and looks forward to
collaborating closely with the investigational teams in both
countries.
The mechanism of actions of AZD1656, both blood glucose lowering
and potential immunomodulatory action, are independent of viral
mutations. AZD1656 activates glucokinase, which is expected to
increase the migration of T regulatory cells in addition to
reducing blood glucose. Reducing hyperglycaemia (high blood
glucose) is increasingly seen to be important to improve outcomes
in people with diabetes and COVID-19. Migration of regulatory T
cells is expected to dampen down the hyperinflammation seen in the
lungs for instance, that results in severe COVID-19.
Dave Tapolczay, CEO of St George Street said 'I am delighted
with the progress of the ARCADIA trial so far in the UK and through
adding an additional 23 hospital sites we expect to see a
significant impact on patient recruitment of the trial. Credit must
go to the team in obtaining regulatory approval so quickly in Czech
Republic and Romania. As a society we will need many solutions to
battle the surging pandemic and I am proud that here at St George
Street we are playing our part in helping to find those
solutions.'
For further information, please contact:
Vela Technologies plc Tel: +44 (0) 7421
Brent Fitzpatrick, Non-Executive Chairman 728875
James Normand, Executive Director
Allenby Capital Limited (Nominated Adviser Tel: +44 (0) 20
and Joint Broker) 3328 5656
Nick Athanas/Asha Chotai
Peterhouse Capital Limited (Joint Broker) Tel: +44 (0) 20
Lucy Williams / Duncan Vasey / Eran Zucker 7469 0930
About Vela Technologies
Vela Technologies (AIM: VELA) is an investing company focused on
early stage and pre-IPO long term disruptive technology
investments. Vela's investee companies have either developed ways
of utilising technology or are developing technology with a view to
disrupting the businesses or sector in which they operate. More
recently, Vela Technologies has also started to focus on existing
listed companies where valuations may offer additional
opportunities.
About Reach announcements
This is a Reach announcement. Reach is an investor communication
service aimed at assisting listed and unlisted (including AIM
quoted) companies to distribute media only / non-regulatory news
releases into the public domain. Information required to be
notified under the AIM Rules for Companies, Market Abuse Regulation
or other regulation would be disseminated as an RNS regulatory
announcement and not on Reach.
This information is provided by Reach, the non-regulatory press
release distribution service of RNS, part of the London Stock
Exchange. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
NRAZZGGMZRRGMZZ
(END) Dow Jones Newswires
January 11, 2021 02:00 ET (07:00 GMT)
Vela Technologies (LSE:VELA)
Gráfico Histórico do Ativo
De Mar 2024 até Abr 2024
Vela Technologies (LSE:VELA)
Gráfico Histórico do Ativo
De Abr 2023 até Abr 2024