19 May 2016 – Destiny Pharma Welcomes O’Neill Report on Tackling Antimicrobial Resistance (AMR)

Final report of Government’s AMR Review calls for $1 billion reward for new drugs.

Adoption of this and other recommendations is on the G7, G20 & United Nations main agendas in May and September this year.

Destiny Pharma’s XF drugs are a novel antibacterial approach, with a rapid bacterial kill and the capability to address AMR, and are already in advanced clinical development in the UK & US

Brighton, UK, 19 May 2016: – Destiny Pharma Ltd, a leading clinical stage pharmaceutical company focused on developing antibacterial medicines, is pleased to welcome and applaud the final report and recommendations of the UK Review on Antimicrobial Resistance (AMR Review) chaired by Lord O’Neill.

In July 2014, the UK Government commissioned the Review on Antimicrobial Resistance in collaboration with the Wellcome Trust. The Review is independent and engages widely with international stakeholders to understand and propose solutions to the problem of antimicrobial resistance, from an economic and social perspective and outlines 10 areas where the world needs to take action to tackle AMR. Many of these measures focus on reduction of antibiotic resistant infections, incentivising industry to develop much needed new drugs and infection prevention approaches.

Dr Bill Love, CEO of Destiny Pharma commented: “Antibiotic resistance is a recognised global threat. If not addressed, it is predicted to have a greater impact than cancer, a $100 trillion annual global cost and is the harbinger of the end of modern medicine as we know it. We welcome the final report and recommendations of the Review of Antimicrobial Resistance. Addressing the lack of development of new antibiotics, and the urgent need for novel antibacterial drugs – ideally ones which counter bacterial drug resistance – is of paramount importance”.

“There has been an absence of big pharma in the development of antibiotics – smaller, independent companies like Destiny Pharma have driven innovation in recent years and have products close to market. The proposal for Market Entry Rewards as outlined in the O’Neill report potentially rewarding companies with a $1 billion payment upon new drug approval, would be a shot in the arm for developing much needed new drugs. The report also recommends a Play or Pay levy on big pharma to help fund new products, which is offset if they already develop drugs in this area. Adoption and implementation of the report recommendations is estimated to cost $4 billion a year, a fraction (0.05%) of the G20’s spend on healthcare and a small price to pay to address this global crisis. Political consensus will be crucial in delivering these recommendations and we look forward to the discussions at the forthcoming global forums, including the G7, G20 and for the first time AMR is on the high level agenda of United Nations General Assembly meeting.”

One of Destiny Pharma’s XF drug product developments is an antibacterial drug that tackles the prevention of post-surgical bacterial infection, including antibiotic resistant bacteria – a major cause of hospital infection. The lead drug candidate XF-73, has completed 4 clinical studies in the UK and shown to reduce the number of bacteria rapidly, with a US clinical trial to be reported shortly. In laboratory tests XF-73 has been shown not to succumb to bacterial resistance – unlike traditional antibiotics. XF-73 was granted Qualifying Infectious Disease Product (QIDP) status in October 2015 by the FDA for a new US indication for the, ‘Prevention of post-surgical staphylococcal infections’.

Dr Bill Love added: “At Destiny Pharma our innovative drug development has already produced the revolutionary XF drug series. Evidence shows that the likelihood of bacterial resistance developing to these drugs is remote – offering a totally new means to prevent and treat certain bacterial infections. The stimulus of the AMR Report recommendations will assist us to achieve our goal of a new range of novel antimicrobial drug products.”

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 leading, clinical stage biopharmaceutical company, 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. Exeporfinium chloride 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 commercialize 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, 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.

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.