Wednesday 14th May 2008
Allergy group in ‘breakthrough’
Allergy Therapeutics says positive Phase III study results demonstrate the efficacy of its Pollinex Quattro vaccine.
The Worthing-based company, whose AIM-quoted shares slumped last year on potential US setbacks, declares the results of ‘the largest controlled allergy vaccine study ever conducted’ demonstrated Pollinex Quattro had ‘significant clinical benefits’. Allergy Therapeutics quotes Tony Frew, professor of allergy and respiratory medicine at the Brighton and East Sussex Medical School, as saying ‘proof of the efficacy of Pollinex Quattro is a breakthrough for allergy sufferers’.
Chief executive officer Keith Carter hails the study results as ‘the most important news in the 70-year history of our company’. The company says it intends to use the results to support a European Union marketing approval application in the first quarter of next year.
Allergy Therapeutics shares, which fell from 141p early last year to 25p in February, have now rallied to 35.75p. That values the company at £29.3 million.
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