XF-73 molecule and Destiny Pharma logo
Current news

18th March 2016: Destiny Pharma: 'In the News.'

Following the recent media coverage of the Declaration, co-signed by Destiny Pharma, calling on governments to work with them to develop new and alternative market structures that provide more dependable and sustainable market models for antibiotics, and to commit the funds needed to implement them, interviews with Dr Bill Love, CEO of Destiny Pharma have appeared in a number of recent publications. Interviewed in SCRIP Intelligence, the leading source of news and strategic analysis for the global pharmaceutical industry, Dr Love outlined the current clinical development status of XF-73 (exeporfinium chloride), Destiny Pharma's lead product, in the US. With the completion in the coming weeks of a clinical trial sponsored by the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), studying Staphylococcus aureus (SA) decolonization (i.e. the clearance of SA from the nostrils of carriers) as well as safety and tolerability, and the recent Qualified Infectious Disease Product Designation Granted to XF-73 by the FDA for Novel Antibacterial Product In Development for Prevention of Post-Surgical Staphylococcal Infections, the article noted that Destiny Pharma has "placed itself firmly on the radar in the US". In a further interview with EP Vantage, Dr Love detailed the unique properties that XF-73 has which make it ideally placed to become the drug of choice for the prevention of post-surgical Staphylococcal infections once it is approved. Dr Love also outlined the need for new antibacterial drugs to combat the issue of resistance, and how government incentives such as the US GAIN (Generating Antibiotic Incentives Now) Actare stimulating the research focus on developing new antibacterial drugs. For further information about Destiny Pharma or to arrange an interview with Dr Love, please contact: destinypharma@humebrophy.com.

26th January 2016: Destiny Pharma sign Declaration to fight antibiotic resistance

Destiny Pharma has joined other pharmaceutical companies. including GlaxoSmithKline, Merck , Pfizer, Sanofi, Novartis and AstraZeneca, in calling on governments to work with them to develop new and alternative market structures that provide more dependable and sustainable market models for antibiotics, and to commit the funds needed to implement them. The Declaration, by the Pharmaceutical, Biotechnology and Diagnostics Industries on Combating Antimicrobial Resistance was launched at the World Economic Forum in Davos, Switzerland last week. The Declaration was drafted, agreed and signed by 85 companies and nine industry associations from across the global pharmaceutical, diagnostics and biotechnology industries in 18 different countries. The statement sets out for the first time how governments and industry need to work together to support sustained investment in the new products needed to beat the challenges of rising drug resistance. Dr Bill Love, CEO of Destiny Pharma said "We welcome the publication of this Declaration, which demonstrates the need for a coordinated plan at a governmental level to tackle the issue of antibiotic resistance".

11th November 2015 Press Release: Destiny Pharma Announces Qualified Infectious Disease Product Designation Granted by US FDA for Novel Antibacterial Product In Development for Prevention of Post-Surgical Staphyloccocal Infections

11th November 2015, Brighton, UK - Destiny Pharma Ltd, a leading, clinical stage biopharmaceutical companyfocused on developing and commercialising antibacterial drug products, today announced that the US Food and Drug Administration (FDA) has granted Qualified Infectious Disease Product (QIDP) designation to Destiny Pharma's lead drug product candidate, XF-73, (Exeporfinium chloride). This is a novel, synthetic drug with anti-bacterial activity against a broad range of bacteria. The drug is being developed against the bacteria, Staphylococcus aureus, including the multi-antibiotic resistant strain, Methicillin-Resistant Staphylococcus aureus, (MRSA).

The QIDP designation for XF-73 is for the prevention of post-surgical Staphylococcal infections and there are tens of millions of patients entering hospitals each year who are at significant risk of contracting a post-surgical infection because they 'carry' this bacteria. Under the GAIN (Generating Antibiotic Incentives Now) Act, QIDP status confers FDA priority review, eligibility for fast-track status and an additional five-year extension of US patent exclusivity when approval is granted.

The FDA grants QIDP designations to drugs intended to treat serious or life-threatening infections, caused by "qualified pathogens". These pathogens include the hospital Superbug, MRSA, one of the leading causes of post-surgical infections.

Data from four Phase I/IIa studies in Europe has shown that XF-73 is rapidly bactericidal i.e. reducing the number of bacteria in the nose quickly. Coupled with the unique property to prevent bacterial resistance demonstrated in laboratory tests (1), XF-73 promises to be able to prevent potentially fatal Staphylococcus aureus infections. An approach which is becoming compromised due to a limited number of antibiotics and antibiotic resistance. In the USA, a clinical trial of XF-73 is sponsored and funded by the National Institute of Allergy and Infectious Diseases (NIAID), part of the National Institutes of Health (NIH), and is expected to complete shortly.

Dr Bill Love, CEO of Destiny Pharma, commented: "The QIDP designation is an important milestone in the development of our lead product XF-73 which represents a new approach in hospital infection prevention for millions of surgical patients. Around the world, governments and global organisations are calling for new anti-bacterial drugs and are introducing incentives to reward companies for delivering these products. Tackling Antibiotic Resistance is on the G7 agenda and industry is starting to return to this space. XF-73 has a novel bacterial-killing action which offers the potential of a more comprehensive surgical infection prevention program."

For further information please contact:
Hume Brophy
Mary Clark, Eva Haas, Hollie Vile
Tel: +44 20 3440 5813
Email: destinypharma@humebrophy.com

About Destiny Pharma:
Destiny Pharma, a clinical stage biopharmaceutical company, was founded in 1997. The Company focuses on the R&D of new antimicrobial drugs, with an emphasis on novel mechanisms of action that seek to address the global healthcare issue, namely, Antibiotic Resistance. XF-73 is the Company's lead drug which has completed 4 Phase I/IIa clinical studies in the UK/Europe. Through its extensive business network and strategic partnerships, Destiny Pharma intends to globally commercialise candidates from the XF Drug platform based on dicationic porphyrins which are differentiated from traditional antibiotics structurally. XF drug candidates are able to kill static and growing bacterial cultures, as well as bacteria with biofilm and may thus see limited resistance development. Non-growing cultures often become resistant to traditional antibiotics that rely on the bacteria actively growing to kill them. Additional information on Destiny Pharma is available at www.destinypharma.com

About infections and hospital admissions:
Infection remains a major complication for hospital admissions. The most common cause of infection is the bacteria Staphylococcus aureus (SA), including the antibiotic resistant form, MRSA. Infection prevention measures including decolonisation of SA/MRSA ahead of surgery in at-risk patients are now practised in many countries, but the continuing problem of bacterial resistance prevents the procedure being extended to the larger number of patients who could benefit. There is an urgent global need for drugs that can effectively prevent SA infections in patients without succumbing to bacterial resistance. In the USA alone it is estimated drug-resistant forms of SA such as MRSA result in 19,000 deaths per year. The annual cost of Staphylococcus aureus infection in the US is put at $9.5 billion.

A report in The Lancet 15th October 2015 (2), estimates that between 38 - 51% of bacteria that cause post-surgical infections are resistant to traditional antibiotics used and that a 30% reduction in current antibiotic effectiveness could result in 120,000 additional post-surgical and chemotherapy related infections in the USA alone.

References:
1. David Farrell et al., "Investigation of the potential for mutational resistance to XF-73, Retapamulin, Mupirocin, Daptomycin, Fusidic acid & Vancomycin in MRSA isolates during a 55 passage study". Antimicrob.Agents & Chemo., (2011), p1177
2. Aude Teillant et al., "Potential burden of antibiotic resistance on surgery and cancer chemotherapy antibiotic prophylaxis in the USA: a literature review and modelling study.", The Lancet Online, 15th Oct 2015. http://dx.doi.org/10.1016/S1473-3099(15)00270-4

Forward Looking Statement:
This press release contains forward-looking statements that are subject to risks and uncertainties and includes statements that are not historical facts. Actual results could differ significantly from results discussed. Destiny Pharma disclaims any intent or obligation to update forward-looking statements except as required by law.

22nd October 2015: G7 Health Minsters committed to tackle antimicrobial resistance

The health ministers from United States, Canada, Japan, France, Germany, Italy and the United Kingdom have announced that they are committed to take action to tackle the problem of antimicrobial resistance (AMR) at the G7 meeting in Berlin, Germany. The G7 health ministers agreed on a number of actions to implement the G7 Leaders Declaration as outlined in the "Berlin Declaration on AMR" The health ministers acknowledged that the emergence of AMR is an increasing global health threat and that infection with AMR pathogens leads to prolonged treatment times, higher mortality, heavy burdens on health systems and high economic impacts. The impact of AMR was put as 700,000 deaths may be caused each year globally by resistant pathogens and compared to a world where AMR did not exist, current AMR rates may cause a GDP contraction in OECD countries which by 2050 would result in cumulative losses of approximately US$2.9 trillion. One of the three key approaches identified by the health ministers is to engage in research to optimise such approaches and to develop new antimicrobials, vaccines, treatment alternatives and rapid diagnostic tools and called for the strengthening and encouraging of increased R&D of new antimicrobial compounds. The health ministers also stated that they are committed to explore innovative economic incentives to enhance the R&D of new antimicrobial compounds, looking at various instruments such as a global antibiotic research fund and a market entry reward mechanism for truly new antibiotics targeting the most important pathogens.

6th October 2015: BEAM (Biotechs from Europe innovating in Anti-Microbial resistance) Alliance release first position paper identifying the key actions required to reinvigorate investment and R&D in the antibacterial field

The BEAM (Biotechs from Europe innovating in Anti-Microbial resistance) Alliance, of which Destiny Pharma is a founding member, has released their first position paper entitled "Key Actions to Reinvigorate Investment and R&D in the antibacterial field Now" The paper urges European and National public authorities to take three key short term complementary actions with immediate effect:

1. Create a specific fund dedicated to small and medium biopharmas to finance projects from discovery to clinical proof of concept

2. Enhance market incentives to increase the attractiveness of developing new products tackling antimicrobial resistance

3. Strengthen the existing actions of the European Medicines Agency (EMA) to accelerate and simplify the regulatory pathways for products tackling antimicrobial resistance

The position paper also provides some food for thought on longer-term perspectives to strengthen and increase the R&D into new antibacterial drugs. Dr Bill Love, CEO of Destiny Pharma said "The actions identified in the BEAM position paper are intended to stimulate much needed investment into the development of new antibacterial drugs. Europe needs to follow the USA, where positive actions are being taken to incentivise companies to develop new drugs to tackle the global public health crisis that multi-drug resistant bacteria present."

24th August 2015: Latest figures from Public Health England show that the number of Methicillin Sensitive Staphylococcus aureus (MSSA) blood infection (bacteraemia) cases continue to rise in the UK

The very latest data from Public Health England, demonstrate that the problem of Methicillin Sensitive Staphylococcus aureus (MSSA) bacteraemia (bacterial infections in the blood) continues to increase in the UK, with the total number of reported cases increasing by 5.8% compared to the previous year. This increase is not a one off, with the number of reported MSSA bacteraemias having increased every year since the mandatory surveillance of Staphylococcal infections was extended to include MSSA bacteraemia in 2011. MSSA was added to the existing MRSA surveillance due to both the high national total of MSSA bacteraemias, and the observation that the strides in reducing MRSA bacteraemias had not also been seen among MSSA. Whist the number of MRSA bacteraemias has dropped since 2011, the number of MSSA bacteraemias has increased 12% since 2011. To understand the importance of MSSA bacteraemias, over 92% of all bacteraemias in the UK are now caused by MSSA rather than MRSA. Dr Bill Love, CEO of Destiny Pharma said "These latest figures once again demonstrate that the actions implemented to reduce MRSA infections are still proving ineffective in dealing with infections caused by MSSA and underline the importance of developing drugs that are equally effective against MSSA as well as MRSA."

23rd June 2015: Destiny Pharma participates in the launch of the Antibiotic Discovery Global Network

Destiny Pharma, a founding member of the BEAM (Biotechs from Europe innovating in Anti-Microbial resistance) Alliance , participated in the launch of the Antibiotic Discovery Global (ADG) Network at the Wellcome Trust in London on June 10th The ADG is a powerful coalition that aims to tackle the near empty antibiotic development pipeline due to the emergence of antibiotic resistance. ADG aims to provide an international knowledge base and infrastructure to support global antibiotic discovery and development, including the rejuvenation of older antibiotics for new uses. Jim O'Neill, chairman of the Review on Antimicrobial Resistance (AMR) gave the keynote speech at the launch of the ADG.

8th May 2015: Destiny Pharma to attend the Society for Healthcare Epidemiology of America (SHEA) Spring 2015 Conference: Science Guiding Prevention in Orlando, Florida

Destiny Pharma will be attending the Society for Healthcare Epidemiology of America (SHEA) Spring Conference: Science Guiding Prevention in Orlando, Florida between 14 - 17th May. Please contact us on conferences@destinypharma.com if you would like to arrange a meeting during the SHEA meeting.

16th March 2015: Destiny Pharma invited to present at the inaugural Pipeline Corner event to be held during the 25th European Congress of Clinical Microbiology and Infectious Disease (ECCMID) meeting in Copenhagen, Denmark on the 25-28th April 2015

Destiny Pharma has been invited to present at the at the inaugural Pipeline Corner @ ECCMID event to be held during the 25th European Congress of Clinical Microbiology and Infectious Disease (ECCMID) meeting in Copenhagen, Denmark on the 25-28th April 2015. Please contact us on info@destinypharma.com if you would like to arrange a meeting during this year's ECCMID meeting.

5th February 2015: Global Innovation Fund recommended to be set up to support new ideas to combat antimicrobial resistance

Following on from the report produced in December 2014 by the Review on Antimicrobial Resistance, set up by the UK Prime Minister David Cameron, where it was estimated that drug-resistant infections will cost the world 10 million extra deaths a year and up to $100 trillion by 2050, the Review on Antimicrobial Resistance has today issued it's latest report where it recommends that a global antimicrobial resistance innovation fund should be set up to drive investment in R&D focused on a new generation of drugs to tackle the issue of antimicrobial resistance. Jim O'Neill, Chairman of the Review on Antimicrobial Resistance, said: "I am calling on international funders, philanthropic or governmental, to allocate money to a fund that can support blue sky science and incubate ideas that are more mature. Antibiotics research is the poor relation to studying chronic diseases of the developed world but, without antibiotics, treating those diseases can be compromised too. New drugs take 10 to 15 years to come onto market, so the time for action is now". The Review on Antimicrobial Resistance team will publish their next report in the spring of 2015, which will focus on incentives to create a compelling commercial rationale for developing new drugs to tackle antimicrobial resistance. Changes that governments, health provides and health regulators will need to bring about to achieve this aim will be identified. Dr Bill Love, CEO of Destiny Pharma said: "I welcome the Review on Antimicrobial Resistance's latest report and their identification for the need to set up an innovation fund and look forward to their recommendations on how the commercial landscape can be improved to incentivise further investment to combat antimicrobial resistance".

8th January 2015: Destiny Pharma to attend DRIVE-AB (Driving reinvestment in R&D and the responsible use of antibiotics) meeting in London on February 9th

Destiny Pharma has been invited to attend the DRIVE-AB (Driving reinvestment in R&D and the responsible use of antibiotics) meeting to be held at the Royal Automobile Club in London on the February 9th 2015. DRIVE-AB is a project composed of 16 public and 7 private partners from 12 countries that is funded by the Innovative Medicines Initiative (IMI): IMI is a joint undertaking between the European Union and the European Pharmaceutical Industry Association (EFPIA) and is focused on driving reinvestment in R&D for antibiotics and advocating their responsible use.

19th December 2014: Drug-resistant superbugs could cost up to $100 trillion and cause 10 million extra deaths a year by 2050

In a report published on the 11th December by the Review on Antimicrobial Resistance, set up by the UK Prime Minister David Cameron, it has been estimated that drug-resistant infections will cost the world 10 million extra deaths a year and up to $100 trillion by 2050, if the global increase is not stopped. Drug-resistant infections already kill hundreds of thousands of people globally every year, and the trend is growing. The analysis was produced by RAND and KPMG, with input from experts in the scientific community. Jim O'Neill, Chairman of the Review on AMR, said: "Drug-resistant infections already kill hundreds of thousands a year globally, and by 2050 that figure could be more than 10 million. The economic cost will also be significant, with the world economy being hit by up to $100 trillion by 2050 if we do not take action." Dr Bill Love, CEO of Destiny Pharma said "The figures in this report, particularly the potential human cost of not addressing antibiotic resistance are quite frightening. Fortunately the report does make the case that this crisis can be averted if global action is taken soon to address this huge problem the report highlights just how great the need for new antimicrobial drugs is."

5th December 2014: Destiny Pharma invited to attend the first event of the Review on Antimicrobial Resistance Meeting chaired by Jim O'Neill and hosted by the Wellcome Trust on the 11th December 2014

Destiny Pharma have been invited to attend the first event for the Review on Antimicrobial Resistance which has been set up by David Cameron, the British Prime Minister to be held at the Wellcome Trust in London. Jim O'Neill, the chairman of the review, will present a paper looking at how much antimicrobial resistance could cost the world by 2050 if it is not tackled. The meeting will also discuss two questions with expert speakers, followed by an interactive discussion:

1. What will it take for new diagnostic technology to become reality? What policy changes are needed to change prescription practices and revolutionise the surveillance of diseases?

2. New antimicrobial drugs: How empty is the pipeline? Is the problem science or money?

17th November 2014: 7th European Antibiotic Awareness Day

European Antibiotic Awareness Day is marked annually on the 18th November to raise awareness about the threat to public health of antibiotic resistance and prudent antibiotic use. The latest data confirms that across the European Union the number of patients infected by resistant bacteria is increasing and that antibiotic resistance is a major threat to public health. On the occasion of the 7th European Antibiotic Awareness Day, the European Centre for Disease Prevention and Control (ECDC) will be releasing its latest EU-wide data on antibiotic resistance (EARS-Net annual report and interactive database). The ECDC data will show that the rate at which the percentage of Staphylococcus aureus resistant to methicillin (MRSA) decreased for the period 2010 to 2013 was reduced compared to the previous four-year period, despite all of the initiatives in place to fight this superbug. MRSA remains a major public health problem in Europe, with seven out of thirty reporting countries having MRSA percentages above 25%. The European Antibiotic Awareness Day is part of the UK 5 Year Antimicrobial Resistance Strategy 2013 to 2018, which focuses on antibiotics and sets out actions to slow the development and spread of antimicrobial resistance. This year, Public Health England has established the Antibiotic Guardian pledge campaign. More information about the 7th European Antibiotic Awareness Day can be found here, here and here.

1st October 2014: Destiny Pharma to attend IDWeek in Philadelphia, PA

Destiny Pharma will be attending IDWeek in Philadelphia, PA between 8-12th October. IDWeek is the combined annual meeting of the Infectious Diseases Society of America (IDSA) the Society for Healthcare Epidemiology of America (SHEA), the HIV Medicine Association (HIVMA), and the Pediatric Infectious Diseases Society (PIDS). IDWeek is geared toward healthcare professionals in infectious diseases and healthcare epidemiology and prevention, including researchers, clinicians, quality and patient safety practitioners, epidemiologists, and public health officials. Please contact us on info@destinypharma.com if you would like to arrange a meeting during IDWeek.

29th September: Obama Administration Takes Actions to Combat Antibiotic-Resistant Bacteria

On the 18th September, President Barack Obama signed an Executive Order directing key Federal departments and agencies to take action to combat the rise of antibiotic-resistant bacteria. The Administration also released its National Strategy on Combating Antibiotic-Resistant Bacteria. In addition, the President's Council of Advisors on Science and Technology (PCAST) has released a related report on Combating Antibiotic Resistance. The Executive Order directs Federal departments and agencies to implement the National Strategy and address the PCAST report. The National Strategy provides a five-year plan for enhancing domestic and international capacity to: prevent and contain outbreaks of antibiotic-resistant infections; maintain the efficacy of current and new antibiotics; and develop and deploy next-generation diagnostics, antibiotics, vaccines, and other therapeutics. The PCAST report provides actionable recommendations from the President's Council, in consultation with experts from the public and private sectors, for combating antibiotic resistance.

According to the Centers for Disease Control and Prevention (CDC), antibiotic-resistant infections are associated with 23,000 deaths and 2 million illnesses in the United States each year. Estimates of annual impact of antibiotic-resistant infections on the U.S. economy vary but have ranged as high as $20 billion in excess direct health care costs, and as much as $35 billion in lost productivity from hospitalizations and sick days. And the problem is worsening. Some bacterial infections are almost, or entirely, untreatable because the causal agents have acquired resistance to all of the antibiotics that can be deployed against them. Without effective antibiotics, we will no longer be able to treat bacterial infections reliably and rapidly. Antibiotics are critically important for many modern medical interventions, including chemotherapy, complex surgery, and organ transplantation. Controlling the development and spread of antibiotic resistance is a top national security and public health priority for the Obama Administration. Taken together, the Executive Order, National Strategy, and PCAST report will significantly help the Federal government curb the rise of antibiotic-resistant bacteria, potentially saving thousands of lives.

4th September 2014: Destiny Pharma to attend 54th Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC) Conference in Washington DC

Destiny Pharma will be attending the 54th Interscience Conference on Antimicrobial Agents and Chemotherapy (ICAAC) meeting in Washington DC between 5 - 9th September. ICAAC is the premier conference on antimicrobial agents and infectious diseases, showcases the latest-breaking science and lectures from top researchers from around the world. With 50% of its attendees living outside of the United States, ICAAC provides a rare opportunity to bring together the field's foremost leaders to discuss the state of infection control and prevention on a global scale. Please contact us on info@destinypharma.com if you would like to arrange a meeting during ICAAC.

4th August 2014: Angel CoFund join UK investors in £2.8m investment for Superbug Killing Company

Innovative UK pharmaceutical company, Destiny Pharma, completes investment round to fund a landmark clinical trial of a new drug designed to combat antibiotic resistant bacteria

4th August 2014, Brighton: UK Clinical stage pharmaceutical company, Destiny Pharma, can today announce its successful investment round of over £2.8 million to fund a landmark clinical trial for its lead drug, XF-73, to prevent post-surgical Staphylococcal infections. The Angel CoFund, (the £100m fund for small and medium sized British businesses, with Government backing), invested in Destiny Pharma, alongside other UK investors.

Infection from bacteria remains a worrying complication for hospital admissions. One of the most common causes of infection is the bacterium Staphylococcus aureus (SA). XF-73 is a 'nasal decolonisation' treatment intended to clear SA bacteria from the nostrils of carriers, to prevent post-surgical SA infection. It has been proven to be an effective drug for killing both SA and the drug-resistant form of the bacteria, MRSA.

Antibiotic resistance is of growing concern with David Cameron warning that we may be heading into a post-antibiotic era akin to the 'medical dark ages'. In July this year, he announced an independent review on the subject with a view to make recommendations as to how to stimulate the development of new antibiotics, which will be presented to the G7. Public awareness and support is behind this drive for new antibiotics, demonstrated by Antibiotic Resistance winning the public vote for the £10m Longitude Prize.

The US government is currently funding an on-going clinical trial of XF-73, which further highlights the global interest in Destiny Pharma and its approach to ensure the drug is adopted across all major markets. In July 2014, the US Infective Disease Society of America published new recommendations for the prevention of SA/MRSA infection, which will now include a highest-grade recommendation for nasal decolonisation of all Intensive Care Unit patients to reduce infection.

Dr Bill Love, CEO of Destiny Pharma commented: "We are delighted to have completed this investment and welcome the Angel CoFund along with other new investors. XF-73 has the potential to become a mainstream treatment for the prevention of SA/MRSA hospital infections and its unique feature of addressing antibiotic resistance can enable the widespread delivery of global patient decolonisation. We look forward to the next stages of developing this drug and to enabling its use in hospitals."

Tim Mills, Investment Director at the Angel CoFund, commented: "Destiny Pharma is exactly the type of business we look to invest in; it is innovative, British and cutting edge in the medical field. This round of investment is for Destiny Pharma's new drug that will kill bacteria via a novel ultra-rapid kill action - designed to even combat antibiotic resistance. We are looking forward to working with the team and supporting them as the company grows."

ENDS

About Destiny Pharma:

Destiny Pharma, a clinical stage pharmaceutical company, was founded in 1997. The Company focuses on the R&D of new antimicrobial drugs, with an emphasis on novel mechanisms of action, which seek to address antibiotic resistance. Through its extensive business network and strategic partnerships Destiny Pharma intends to globally commercialise candidates from the XF Drug platform, which are differentiated by design from traditional antibiotics.

AboutAngel CoFund:

Launched in 2011, the Angel CoFund is a privately run fund that works alongside groups of business angels to invest in high growth small and medium sized businesses across the UK, directly providing funding as well as encouraging the expansion of the business angel market.

Backed by the British Business Bank and the Government's Regional Growth Fund, the £100m Angel CoFund is able to make initial investments of between £100,000 and £1 million into businesses, alongside syndicates of business angels.

To date the fund has supported 42 companies (for example Ventive, Yplan, PlayJam and Micrima) providing over £17 million in direct investment alongside £65 million from business angels and other investors.

www.angelcofund.co.uk

Forward Looking Statement:

This press release contains forward-looking statements that are subject to risks and uncertainties and includes statements that are not historical facts. Actual results could differ significantly from results discussed. Destiny Pharma disclaims any intent or obligation to update forward-looking statements except as required by law.

For further information about Destiny Pharma contact:
Email: pressoffice@destinypharma.com
Tel: +44 (0) 1273 704440

For further information about Angel CoFund contact:
Email: emma@fieldhouseassociates.com
Tel: +44 (0) 7988 696059

July 2014: David Cameron says that superbugs can cast "world back into the dark ages of medicine"

The British Prime Minister David Cameron has called for global action to tackle the growing threat of resistance to antibiotics. The Prime Minister said: "If we fail to act, we are looking at an almost unthinkable scenario where antibiotics no longer work and we are cast back into the dark ages of medicine where treatable infections and injuries will kill once again." The Prime Minister wants Britain to lead the way, using its international leadership and world-class pharmaceutical sector - which employs thousands of highly-skilled experts and is a key part of the country's economy - to battle against antimicrobial resistant infections and bring new drugs to the world market. Mr Cameron has commissioned a wide reaching independent review, co-funded by the world's second largest medical research foundation, the Wellcome Trust, to explore the economic issues surrounding antimicrobial resistance. The review will look at the development, use and regulatory environment of antimicrobials, especially antibiotics, and explore how to make investment in new antibiotics more attractive to pharmaceutical companies and other funding bodies and how governments and other funders can stimulate investment in new antimicrobials and timeframes and mechanisms for implementation. The review will set out a plan for encouraging and accelerating the discovery and development of new generations of antibiotics.

Dr Jeremy Farrar, Director of the Wellcome Trust said: "We are failing to contain the rise of resistance, and failing to develop new drugs to replace those that no longer work. We are heading for a post-antibiotic age". The review will run alongside - and engage closely with - the World Health Organization's development of a Global Action Plan on antimicrobial resistance. The Resolution on Antimicrobial Resistance passed at the World Health Assembly in Geneva in May 2014 recognised the pressing need for the global community to act immediately in the fight to combat increasing resistance.

Around 25,000 people already die each year from infections resistant to antibiotic drugs in Europe alone and the lack of new drugs which are capable of fighting bacteria has been described by the World Health Organization as one of the most significant global risks facing modern medicine. Dr Margaret Chan, Director General of the World Health Organization (WHO) said: "The UK is demonstrating strong leadership in raising awareness about the global threat posed by antimicrobial resistance" and "WHO will work closely with the Review and other key partners on this important initiative."

Dr Bill Love, CEO of Destiny Pharma said: "I am pleased that the British Government have recognised the global threat posed by antibiotic resistance and also identified that the UK is in an ideal position to lead the way in developing novel drugs to combat this threat due to the world-class pharmaceutical expertise that exists in this country. Novel approaches such as the Destiny Pharma drug, XF-73, which is being developed for the prevention of post-surgical Staphylococcal infections caused by drug resistant bacteria are required to ensure that we can combat the threat posed by antibiotic resistance."

April 2014: Destiny Pharma to attend 24th European Congress of Clinical Microbiology and Infectious Disease (ECCMID) Conference in Barcelona, Spain

Destiny Pharma will be attending the 24th European Congress of Clinical Microbiology and Infectious Disease (ECCMID) Conference in Barcelona, Spain between 10 - 13th May. This year's ECCMID will include a series of keynote lectures, symposia, educational workshops and meet-the-expert sessions covering the entire field of infectious diseases and clinical microbiology. Please contact us on info@destinypharma.com if you would like to arrange a meeting during ECCMID.

January 2014: ADAPT Act to Spur Antibiotic Development

New legislation currently being reviewed by the US House of Representatives is aimed at speeding up the approval process for new antibacterial agents. The Antibiotic Development to Advance Patient Treatment Act of 2013 ("ADAPT Act") is a successor to the Generating Antibiotics Incentives Now (GAIN) Act passed by the US Government in 2013 and reinforces the need to advance drug development in order to combat the growing public health threat of "superbugs". The ADAPT Act provides incentives for investment and innovation in developing new antibacterial drugs and is another step forward in developing treatments for patients with antibiotic-resistant infections. Dr Bill Love, CEO of Destiny Pharma said "The GAIN act was the first step towards incentivising pharmaceutical companies to develop new antibacterial drugs and the proposed ADAPT Act takes this a step further by reducing the time it takes to get new antibacterial drugs approved and onto the market. The ADAPT Act demonstrates just how seriously the US Government is taking the threat posed by antibiotic-resistant bacteria and we welcome these developments".

For more news see our News archive.