10 June 2020 – Result of Annual General Meeting

Destiny Pharma plc
(“Destiny Pharma” or “the Company”)

Result of Annual General Meeting

Brighton, United Kingdom – 10 June 2020 – Destiny Pharma plc (AIM: DEST), a clinical stage biotechnology company focused on the development of novel, hospital infection prevention treatments that address the global challenge of antimicrobial resistance (AMR),  announces that all resolutions proposed to shareholders at the closed Annual General Meeting held earlier today were duly passed.

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440

FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000

finnCap Ltd (Nominated Advisor Joint Broker)
Geoff Nash /Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500

WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0) 203 705 9330

About Destiny Pharma
Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel medicines from its XF Platform that represent a new approach to the treatment of infectious disease. The company’s lead programme is undergoing a Phase 2b clinical trial and is targeting the prevention of post-surgical hospital infections including MRSA. The XF drug candidates  are being developed for the prevention and treatment of life-threatening infections caused by antibiotic‑resistant bacteria, often referred to as “superbugs”. Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

09 June 2020 – Grant awarded for Cardiff University collaboration

Destiny Pharma plc
(“Destiny Pharma” or “the Company”)

Destiny Pharma awarded grant to fund collaboration with Cardiff University targeting fungal infections

Collaboration will test antimicrobial candidates from the Company’s XF drug platform against oral fungal infections.

Brighton, United Kingdom – 9 June 2020 – Destiny Pharma plc (AIM: DEST), a clinical stage biotechnology company focused on the development of novel, hospital infection prevention treatments that address the global challenge of antimicrobial resistance (AMR), today announces it has been jointly awarded a National Biofilms Innovation Centre (NBIC) grant to fund a research collaboration with Cardiff University. The project will establish the potential of three of the Company’s proprietary XF drug compounds, DPD‑207, XF-70 and XF-73 as novel treatments for clinically important fungal infections in mucosal mouth models of disease. Financial terms of the collaboration have not been disclosed.

Neil Clark, Chief Executive Officer of Destiny Pharma, added:
We are very pleased to collaborate with the expert team at Cardiff University supported by NBIC. Our XF drugs have already shown activity against bacteria packed in biofilm communities that represent a significant barrier to antimicrobial treatments. This new collaboration may help us identify additional clinical candidates from our XF platform for oral indications related to biofilms in a billion-dollar market. This is also our first research project targeting fungal infections and joins our other four existing research collaborations funded by approximately £2m of grant awards. The project will explore further the potential of our lead drug, XF-73 that is currently in a phase 2b study,  evaluating its potential for the prevention of post-surgical infections.”

Professor David Williams, Professor in the College of Biomedical and Life Sciences at Cardiff University School of Dentistry commented:
“Oral candidoses are prevalent and frequently recurrent infections that typically manifest in debilitated individuals. Given the limited number of antifungal agents and the increasing level of resistance exhibited by Candida species, it is essential that new and effective antifungals are developed. My research team in the School of Dentistry at Cardiff University, are delighted to receive the support of the National Biofilms Innovation Centre (NBIC) which facilitates this exciting collaboration with Destiny Pharma in the investigation their XF drug platform for combatting Candida biofilms”.

Oral fungal biofilms are responsible for a significant number of serious oral infections, but successful treatment is hindered by biofilm resistance and a limited number of effective antifungal drugs. This project will evaluate the XF drug candidates in combatting Candida biofilms and their infection risk using Cardiff’s specialised oral mucosal models.

Oral candidosis occurs in an estimated 2 million people worldwide including approximately ~90% of HIV/AIDS patients, people taking inhaled steroids for asthma, head and neck cancer patients undergoing radiotherapy and some leukaemia and transplant patients. Candida infection of the oesophagus affects an estimated ~1.3 million people and the global oral candidosis market is expected to reach US$ 9.5 billion by 2023.1

NBIC’s stated aim is to establish a network of research and innovation capacity catalysing collaborations with industry in the study of biofilms to achieve breakthrough innovation. This is the third grant award from NBIC that Destiny Pharma has received.

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440

FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000

finnCap Ltd (Nominated Advisor Joint Broker)
Geoff Nash / Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500

WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0) 203 705 9330

About Destiny Pharma
Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel medicines from its XF Platform that represent a new approach to the treatment of infectious disease. The company’s lead programme is undergoing a Phase 2b clinical trial and is targeting the prevention of post-surgical hospital infections including MRSA. The XF drug candidates  are being developed for the prevention and treatment of life-threatening infections caused by antibiotic‑resistant bacteria, often referred to as “superbugs”. Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

About The National Biofilms Innovation Centre (NBIC)
NBIC is an Innovation Knowledge Centre (IKC) jointly funded by the BBSRC, Innovate UK, and the Hartree Centre. NBIC aims to connect scientists specialising in Biofilms across the UK, and to provide a mechanism for industrial partners to explore their unmet needs with our researchers. With road mapping sessions and conferences, NBIC aims to facilitate the exchange of problems, solutions and ideas in the biofilms sector. Through PhD and Post-Doc programs, NBIC nurtures researchers to grow their expertise. NBIC also provides entrepreneur training to its researchers to help them better understand the commercial environment and to encourage the start-up of Micro and SME businesses.

1: MRFR, Pharma and 3008-HCR, 2020. Oral Thrush Market Research Report- Forecast To 2023 | MRFR. [online] Marketresearchfuture.com. Available at: https://www.marketresearchfuture.com/reports/oral-thrush-market-4417

12 May 2020 – Posting of Annual Report and Notice of AGM

Destiny Pharma plc
(“Destiny Pharma” or “the Company”)

Posting of Annual Report and Accounts, and Notice of AGM

Brighton, United Kingdom – 12 May 2020 – Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel, hospital infection prevention treatments that address the global challenge of antimicrobial resistance (AMR), announces that the following documents are now available on the Company’s website at www.destinypharma.com

Printed copies of both documents will be posted to shareholders today.

To comply with the UK Government’s Stay at Home measures, shareholders will not be allowed to attend the meeting in person. Shareholders are strongly encouraged to therefore submit their votes, in respect of all matters of business, via proxy as early as possible. They should appoint the Chairman of the meeting as their proxy. If the situation changes then shareholders will be notified via the Company’s website at www.destinypharma.com and via RNS announcement.

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440

FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000

finnCap Ltd (Joint Broker)
Geoff Nash / Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500

WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0) 203 705 9330

About Destiny Pharma
Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel, cost effective medicines that represent a new approach to the treatment of infectious disease. These potential new medicines are being developed to
address the need for new drugs for the prevention and treatment of life-threatening infections caused by antibiotic-resistant bacteria, often referred to as “superbugs”. Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

07 May 2020 – Director of Preclinical Development as panel member for KTN Antimicrobial Resistance Global Expert Mission dissemination seminar

Daniel Hynes, Director of Preclinical Development will be sitting on the panel of a Knowledge Transfer Network webinar on May 20th discussing the outcomes of the 2019 AMR Expert Mission to Germany including key insights & opportunities for UK-German collaboration to tackle AMR.

Find out more and register here: https://ktn-uk.co.uk/news/antimicrobial-resistence-amr-in-the-uk-and-germany-synergies-opportunities-and-the-future

04 May 2020 – Independent review supports the potential of XF-73

Destiny Pharma plc
(“Destiny Pharma” or the “Company”)

Independent expert review of data supports the potential of XF-73 to address antimicrobial resistance

Publication in peer-reviewed journal ‘suggests that Staphylococcus aureus, including MRSA, has low potential to evolve resistance to XF-73 relative to antibiotics’

Brighton, United Kingdom – 4 May 2020 – Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel antimicrobial drugs that address clear commercial opportunities as well as the global problem of antimicrobial resistance (AMR), notes the publication of a new paper in Trends in Microbiology, entitled: “Assessing the potential for Staphylococcus aureus to evolve resistance to XF-73”1. The author, from the University of Oxford, concludes that data published to date support the unique target profile of XF-73 and its potential to address the threat of AMR.

The review looked at data from a number of established microbiology models that were used to evaluate the action of XF-73 in killing S. aureus that were carried out previously by Destiny Pharma. The paper concluded that the available evidence suggests that S. aureus has low potential to evolve resistance to XF-73 relative to antibiotics. This conclusion supports the company’s own view that XF-73 has a unique resistance profile due to its novel, ultra-fast mechanism of action that is a key advantage compared to typical antibiotics.

Professor Maclean, the paper’s author, is a Wellcome Trust Senior Research Fellow and Professor of Evolution and Microbiology at the University of Oxford. Research in the MacLean lab is focused on understanding the evolutionary biology of antibiotic resistance in pathogenic bacteria such as S. aureus.

Neil Clark, CEO of Destiny Pharma, commented:
“One of the key attributes of our lead drug candidate, XF-73, and our XF platform is the unique “no or low” resistance profile when they are used to kill dangerous bacteria. This new review supports this key component of our target product profile for XF-73.

There remains a global need for new anti-infective drugs targeted at the prevention and treatment of serious infections. This has been highlighted further by the serious secondary bacterial infections complicating treatment in many COVID-19 patients. New drugs must also
address the challenge of AMR and we believe that our XF platform does just that. We look forward to reporting headline data from our current phase 2b study that is evaluating the potential of XF-73 nasal gel in the prevention of post-surgical infections.”

Destiny Pharma is initially developing a nasal gel formulation of XF-73 as a novel therapy to prevent post-surgical infection, including those from methicillin resistant S. aureus (MRSA), as nasal carriage is the source of >80% of S. aureus/MRSA post-surgical bacterial infections.
The Company is currently conducting a 200 patient multi-centre, randomised, blinded, placebo-controlled phase 2b study of a single concentration of XF-73 nasal gel. This is to assess the anti-staphylococcal effect of XF-73 on S. aureus nasal carriage in US and European patients scheduled for cardiac surgical procedures deemed to be at high risk of post-operative S. aureus infection.

The global threat of AMR
Infections caused by Antibiotic Resistant (AR) strains of bacteria continue to rise at an alarming rate. They pose a threat to humanity. Antibiotics represent the foundation for all modern medicine. However, this has been taken for granted and now we find that bacteria have become resistant to almost every antibiotic developed by man and the US CDC estimate that nearly 3 million infections a year in the US alone are caused by AMR strains2. These AMR bacteria, dubbed by the media as ‘Superbugs’, are harder to treat, cause greater mortality and additional cost to the healthcare system.

Unless action is taken to address this huge global issue, the Independent Review on antimicrobial resistance (Lord O’Neill) estimates that it will cost the world an additional 10 million lives a year by 2050, more than the number of people currently dying from cancer annually. It will also have a cumulative cost of $100 trillion, more than one and a half times annual world GDP today.

New antibiotics will ‘buy time’, however perhaps more importantly we need to adopt strategies that may reduce the emergence of AR strains. At Destiny Pharma, one such strategy is being developed in the form of a new group of antibacterial drugs ‘the XF Drug platform’, who’s novel, ultra-rapid mechanism endows them with the extraordinary ability to reduce the chance of bacteria becoming resistant to their action.

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440

FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000

finnCap Ltd (Nominated Adviser and Joint Broker)
Geoff Nash /Anthony Adams, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500

WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0)20 3705 9321

About Destiny Pharma
Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development and commercialisation of novel medicines from its XF Platform that represent a new approach to the treatment of infectious disease. The company’s lead programme is undergoing a Phase 2b clinical trial and is targeting the prevention of post-surgical hospital infections including MRSA. The XF drug candidates are being developed for the prevention and treatment of life-threatening infections caused by antibiotic‑resistant bacteria, often referred to as “superbugs”. Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

About XF-73
XF-73 is a synthetic antimicrobial active against all tested Staphylococcus aureus strains, including drug‑resistant strains. By acting via a cell-surface mechanism it affects the bacterial membrane permeability and integrity, leading to cell death. XF-73 has already been through seven successful Phase 1/2a clinical trials showing it is safe and delivers a rapid antibacterial action. In standard microbiology studies XF drugs have demonstrated a unique no/low resistance profile that means that XF compounds have the potential to deliver novel drugs that are clearly differentiated from traditional antibiotics where resistance limits their utility.

XF-73 is being studied for the prevention of post-surgical staphylococcal infections. In the US, there are approximately 40 million surgeries per annum alone where the patient is at risk of a post-surgical infection. However, within this large population there are groups who are at an even higher risk of infection due to the nature of their surgery or the procedures and/or their specific hospital environment in which they are treated. These higher risk surgical procedures include cardiovascular, orthopaedic and other complex surgeries. Destiny Pharma estimates that this totals approximately 14 million US surgeries per year, with this figure set to rise within the context of an ageing population.

1. R. Craig Maclean Trends in Microbiology DOI: https://doi.org/10.1016/j.tim.2020.03.011
2. https://www.cdc.gov/drugresistance/biggest-threats.html

29 Apr 2020 – Audited results for the year ended 31 December 2019 and clinical development update

Destiny Pharma plc
(“Destiny Pharma” or “the Company”)

Audited results for the year ended 31 December 2019 and clinical development update

Company funded through to Q4 2021

Patient recruitment for XF-73 Phase 2b trial temporarily paused due to COVID-19 pandemic

Brighton, United Kingdom – 29 April 2020 – Destiny Pharma (“the Company”; AIM: DEST), a clinical stage biotechnology company focused on the development of novel, hospital infection prevention treatments that address the global challenge of antimicrobial resistance (AMR), announces its audited financial results for the year ended 31 December 2019.

Financial and corporate highlights

  • Strong cash position with cash and term deposits at 31 December 2019 of £7.5 million (2018: £12.1 million)
  • Increase in R&D expenditure to £3.8 million (2018: £3.5 million) due to planned clinical development costs
  • Cash runway extended to Q4 2021 through careful management of operational activities
  • Appointment of Debra Barker, M.D. as Non-Executive Director

Operational highlights

XF-73 for prevention of post-surgical infections

  • Phase 2b commenced in April 2019, with 68 patients currently recruited out of a target of 200
    • Study currently paused due to impact of COVID-19
  • Publication of positive Phase 1 results from an independent study in the Journal of Global Antimicrobial Resistance (Yendewa et al, 2019) concluded:
    • Application of a nasal gel formulation of XF-73 in healthy volunteers was safe, well-tolerated and generated minimal side effects
    • Treatment with XF-73 was also associated with a rapid reduction in nasal Staphylococcus aureus in all subjects
  • “Non-irritant” classification awarded to XF-73 nasal gel following positive results from a Phase 1 safety clinical study examining the drug’s potential to cause irritation when administered topically
  • Prototype XF-73 nasal gel pack for the final marketed product being developed to deliver an easy-to-use, single dose, nasal gel tube to enable precise delivery and reduce wastage

Earlier pipeline and research grants

  • MedPharm collaboration signed to develop new XF drug formulations as treatments for dermal and ocular infections
  • Good progress on research projects with Cardiff University, University of Southampton and Aston University examining XF drugs in established infection models for dermal, respiratory and biofilm related indications
  • Award of fourth research grant in collaboration with Sheffield University in September 2019 examining selected XF drugs in bacterial and fungal ocular infection models

Post-period highlights

  • New XF formulations developed with promising drug release profiles and scope for delivery of XF drugs designed to treat dermal and ocular infections

Impact of COVID-19
The COVID-19 pandemic has slowed recruitment in the Company’s lead Phase 2b clinical trial with XF-73 for the prevention of postsurgical infections. Destiny Pharma has also seen a slowdown in some of its grant funded research projects as staff and facilities follow government guidance although the business impact here is minimal. Destiny Pharma is complying with international governmental advice and requirements across its operations to prioritise safety with all employees able to continue working effectively from home with minimal disruption to day-to-day operations as a result of the Company’s existing virtual model. Through careful management of cash resources Destiny Pharma is currently able to manage the impact of the pandemic and is closely monitoring the situation.

Neil Clark, Chief Executive Officer of Destiny Pharma, commented:
“We made good progress in 2019 and were very pleased to start recruitment into our lead Phase 2b programme evaluating the potential of our lead product, XF-73, to prevent post-surgical infections. Unfortunately, the study is now effectively paused due to restrictions on performing non-COVID-19 related clinical trials during the pandemic. We are working hard to accelerate recruitment when these restrictions are lifted and look forward to completing this important Phase 2b study as soon as possible. The Company remains well-funded and through careful management of our cash resources we have funding through to Q4 2021.

“It has been widely reported that the treatment of many patients infected with COVID-19 has been significantly complicated by
secondary bacterial infections that take hold and contribute to the mortality rate. This highlights yet again the need for new, safe and effective antimicrobial drugs. We continue to believe that our proprietary XF-platform is well-positioned to generate such products and remain very positive about the future of Destiny Pharma.”

This announcement has been released by Neil Clark, CEO, on behalf of the Company.

The full text of the announcement may be found here.