Malin Corporation Plc

Regulatory Filings • Nov 13, 2019

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 1887T

Malin Corporation PLC

13 November 2019

Malin Corporation plc

Mycovia Pharmaceuticals announces early completion of enrolment for both ongoing global Phase 3 clinical trials for VT-1161 for the treatment of RVVC

Dublin-Ireland, 13 November 2019: Malin Corporation plc. (Euronext Growth Dublin:MLC) ("Malin"), a company investing in highly innovative life sciences companies, is pleased to note that Mycovia Pharmaceuticals ("Mycovia"), a company in which Malin's Priority Asset, Viamet Pharmaceuticals ("Viamet"), has an economic interest, has announced early completion of enrolment for both of its ongoing global Phase 3 clinical trials for VT-1161 (VIOLET), advancing timelines for the company's pivotal studies. 

VT-1161, an oral antifungal product candidate, is being developed for the treatment of recurrent vulvovaginal candidiasis ("RVVC"), a debilitating chronic infectious condition that affects nearly 138 million women globally. The ongoing Phase 3 clinical trials are being conducted at more than 160 sites in 11 countries with top-line data expected in the second half of 2020.

This news follows the announcement by Mycovia earlier this year of strategic partnerships with Jiangsu Hengrui Medicine to develop and commercialise VT-1161 in China for the treatment or prevention of a range of fungal conditions and Gedeon Richter plc. for the commercialisation and manufacture of VT-1161 for RVVC in Europe, Latin America, Australia, Russia and other CIS countries. Under the terms of both agreements, Mycovia is eligible to receive milestone payments related to clinical, regulatory and commercial success of VT-1161.

Malin owns approximately 15% of Viamet and carried its investment in Viamet at a fair value estimate of €79.5 million at 30 June 2019 under International Private Equity and Venture Capital Valuation guidelines.

A copy of Mycovia's press release is available to view here.

ENDS

About Malin Corporation plc

Malin (Euronext Growth Dublin:MLC) is a company investing in highly innovative life sciences companies. Its purpose is to create shareholder value through the application of long-term capital and operational and strategic expertise to a diverse range of global healthcare businesses. Malin has a focus on innovative businesses underpinned by exceptional science and works with its investee companies, providing strategic and financial support to enable them to reach their value potential. Malin is headquartered and domiciled in Ireland and listed on the Euronext Growth Dublin. For more information visit www.malinplc.com 

About Mycovia

Mycovia Pharmaceuticals has a passion for developing breakthrough therapies in areas of unmet medical need, with an initial focus in women's health. Its lead product candidate, VT-1161, is a novel, oral therapy for RVVC that is designed to have greater selectivity, fewer side effects and improved efficacy than current treatment options. VT-1161 received FDA Qualified Infectious Disease Product and Fast-Track designations to support its potential as the first FDA-approved treatment for RVVC. Mycovia also recognises that there is tremendous potential for its oral fungal inhibitors to treat a range of multi-drug resistant fungal pathogens. For more information, please visit www.mycovia.com.

For further information please contact:

Malin

Jessica Bergin, Investor Relations & External Reporting

Tel: +353 (0)1 901 5700

investorrelations@malinplc.com

Davy Corporate Finance (Euronext Growth Adviser & Joint Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

Liberum (Joint Broker)

Bidhi Bhoma / Euan Brown

Tel: +44 (0) 20 3100 2000

Consilium Strategic Communications

Mary-Jane Elliott / Chris Welsh

Tel: +44 (0)20 3709 5700

malin@consilium-comms.com 

Powerscourt (Irish media enquiries)         

Jack Hickey

Tel: +353 83 448 8339                            

malin@powerscourt-group.com 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. 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.

END

MSCBTBBTMBMBTTL