Audited Results for the year ended 31 December 2018

Destiny Pharma plc

(“Destiny Pharma” or “the Company”)

 Audited results for the year ended 31 December 2018

 Well-funded and on track

Brighton, United Kingdom – 9 April 2019 – Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel anti-microbial drugs which address the global problem of anti-microbial resistance (AMR), announces its audited financial results for the year ended 31 December 2018.

Financial highlights

  • Strong cash position with cash and term deposits at 31 December 2018 of £12.1 million (2017: £16.7 million)
  • Increase in R&D expenditure to £3.5 million (2017: £0.8 million) due to planned clinical development costs

 Operational highlights

 XF-73 for prevention of post-surgical infections

  • Phase 2b protocol finalised and 200 patient study now starting April 2019
  • Results due around year-end 2019
  • US market research report confirms clinical need and attractive target product profile of XF-73 nasal – clear unmet need and payer support for proposed pricing supports large market potential
  • US Investigational New Drug (IND) application opened for lead clinical programme XF-73 nasal – a novel anti-microbial being developed as a preventative treatment
  • US Food and Drug Administration (FDA) Fast Track designation granted for XF-73
  • Clarification, through dialogue with the FDA, of the Phase 1 and Phase 2b clinical trials programme
  • Successful completion of required Phase 1 dermal safety studies to enable start of Phase 2b

Earlier pipeline and research grants

  • New dermal infection clinical programme initiated with XF-73 targeting diabetic foot ulcer infections
  • Award of two research grants in collaborations with Aston and Southampton Universities
  • Patent portfolio expanded with the grant of Canadian XF-biofilm patent

Corporate highlights

  • Board and executive management team strengthened with the appointment of Jesus Gonzales MD as Chief Medical Officer and Shaun Claydon as Chief Financial Officer

Post-period highlights

  • Award of UK China AMR grant of up to £1.6 million to examine XF compounds potential against dermal and ocular infections
  • UK government announces new 5 and 20 year plans to address AMR and to support novel drug development addressing AMR and improved financial incentives for companies bringing such new drugs to market
  • Nick Rodgers appointed as Chairman replacing Sir Nigel Rudd who stepped down after 15 years with the Company

Neil Clark, Chief Executive Officer of Destiny Pharma, commented:

“We have made significant progress in the first full year following our IPO in September 2017, delivering on key targets set out at the time, including a number of clinical development objectives, and the Company remains well funded to H2 2020.

“Our lead clinical candidate, XF-73 nasal is being developed as a preventative treatment reducing the carriage of Staphylococcus aureus with the intention of preventing post-surgical hospital infections; a $1 billion peak sales market opportunity. During April 2019 we will initiate the important Phase 2b clinical trial in this setting and will complete recruitment later this year.

Whilst our main focus is on our lead asset we are also continuing to progress our earlier XF pipeline having won three grants to support this workstream. There is continuing international support for the development of novel anti-infective drugs that address the issue of anti-microbial resistance and Destiny Pharma’s unique platform is well-positioned to meet this global need.”

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

The full text of the announcement may be found here.

MedPharm to develop new XF-drug formulations

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

Destiny Pharma appoints MedPharm to develop new XF‐platform drug formulations

MedPharm will develop potential XF‐platform formulations as treatments for dermal and ocular infections

Brighton, United Kingdom ‐ 27th March 2019 ‐ Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel antimicrobial drugs, is pleased to announce that it has appointed MedPharm as its expert partner to develop new topical formulations of the Company’s novel XF‐platform compounds. These new treatments for dermal and ocular infections are part of its second clinical programme to address the global problem of anti‐microbial resistance (AMR). MedPharm is a world leading contract provider of topical and transdermal product design and formulation development services using
sophisticated in vitro models to de‐risk development programmes.

The XF platform has already delivered a Phase 2 ready candidate, XF‐73 nasal gel, for the prevention of post‐surgical infections, that will begin Phase 2b testing in 2019. MedPharm will develop new formulations containing Destiny Pharma’s XF‐platform compounds for the treatment of a number of topically treated infections, including diabetic foot ulcers and ophthalmic infections.  MedPharm is a well‐established, global leader in topical product development with a track record in developing a wide variety of formulations, from early concept stage through clinical development to full product approval.

Neil Clark, CEO of Destiny Pharma commented:
“We are pleased to be working with MedPharm and using their globally recognised expertise to develop effective, patient‐friendly formulations of XF and DPD drugs from our novel antimicrobial XF‐platform. There is an unmet medical need for novel antiinfectives that address dermal and ocular infections with a significantly reduced level of antimicrobial resistance. We look forward to developing improved, targeted formulations with MedPharm to take into future pre‐clinical and clinical studies.”

Eugene Ciolfi, President & CEO of MedPharm commented:
“MedPharm are very excited to be a part of this project and working in close collaboration with Destiny Pharma to address this unmet medical need. Our rigorous methodology, incorporating our novel and world leading in vitro performance testing, will ensure that we deliver fully optimised formulations and de‐risk these important development programmes.”

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

Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)
Philip Davies / Will Goode, Corporate Finance
Andrew Keith, Healthcare Equity Sales
+44 (0)20 7894 7000

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

MedPharm Ltd
Jeremy Drummond, SVP Business Development
Yasmeen Hussain, Marketing
business.development@medpharm.com

Ramarketing
Celine Goodier
celine@ramarketingpr.com

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. 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 WHO and the United Nations, as well as the G7 and the G20 countries. For further information, please visit http://www.destinypharma.com.

About MedPharm
MedPharm is the world’s leading contract provider of topical and transdermal product design and formulation development services. MedPharm are experts at reducing risk and accelerating development times for generic and proprietary pharmaceutical customers through their unique, cost‐effective and industry‐leading performance testing performance testing models. Well established as the global leaders in dermatology, nail, mucosal membrane, and transdermal product development, MedPharm can also offer innovative solutions for ophthalmic and airway preparations recognised for their scientific rigour by regulators and investors. MedPharm has fully established centres of excellence in Durham, USA and Guildford, UK. For further information, please visit http://www.medpharm.com.

Notice of Full Year Results

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

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

Notice of Full Year Results

Brighton, United Kingdom – 22 March 2019 – Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel antimicrobial drugs, which address the global problem of antimicrobial resistance (AMR), will announce its financial results for the year ended 31 December 2018 on Tuesday 9 April 2019.

A presentation for analysts will be held at 9:30am BST on Tuesday 9 April 2019 at the office of FTI Consulting, 200 Aldersgate Street, London EC1A 4HD.

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

Cantor Fitzgerald Europe (Nominated Adviser and Joint Broker)
Philip Davies / Will Goode, Corporate Finance
Andrew Keith, Healthcare Equity Sales
+44 (0)20 7894 7000

finnCap Ltd (Joint Broker)
Geoff Nash /Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking

About Destiny Pharma

Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel 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 WHO and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com