Destiny Pharma’s strategic aim is to become one of the world’s leading developers of novel anti-infective drugs
The Board is committed to progressing the Destiny Pharma pipeline with the goal of delivering better drug treatments for patients and creating significant value for shareholders.
Destiny Pharma plans to generate income and shareholder value by the clinical development and commercial exploitation of its proprietary, highly innovative anti-bacterial drug platform; the XF drug series. The XF drug platform is being developed to prevent and treat existing and emerging superbug infections within and outside of hospitals.
The main market for the lead asset XF-73 preventing hospital infections is initially in the US but the need for such a new treatment is global and Destiny Pharma has the ability to enter into licensing agreements and collaborations for other territories in due course. For example, the agreement with CMS is a broad collaboration to develop the company’s assets in the China/Asia market. The company will also look to enter selected partnership to develop its earlier stage assets and apply for non-dilutive sources of grant and governmental funding, as it has done in the past, to assist in the development of its portfolio.
The Board believes that the increasing governmental pressure and financial incentives that are being implemented now and possibly in the future by leading institutions such as the WHO, UN, FDA and G7/G20 will increase further the options available for profitable commercialisation and the generation of shareholder value.
The company is also interested in expanding its pipeline by adding new technologies and is collaborating with SporeGen on the preclinical development of SPOR-COV™ which is targeting the prevention of COVID-19.