Synairgen reports 'significant progress'

Synairgen, a respiratory drug discovery and development company, has reported 'significant progress' since the end of June.

The firm said that discussions with potential licensing partners for its SNG001 product have progressed, the company has engaged with the US government to investigate the potential of SNG001 as a broad spectrum antiviral.

In October Synairgen submitted a competitive contract tender to the US National Institute of Allergy and Infectious Diseases, which, if successful, would result in a contract being awarded in the second half of 2013.

Meanwhile, analysis of gene and protein biomarkers in samples from the Phase II study in asthma have been initiated, and advancements have been made in its clinical development plan for both the asthma and Chronic Obstructive Pulmonary Disease (COPD).

The company has also expanded its patent portfolio through the grant of a US patent for compounds that induce interferon beta to treat or prevent rhinovirus infections.

Richard Marsden, Chief Executive, said: "This has been an extremely busy period for the company. We have significantly progressed discussions with various potential licensing partners for SNG001 in asthma and COPD and commenced biomarker and further analysis of the samples from the Phase II asthma study.

"In addition, the patent portfolio has been substantially enhanced. We are excited by the potential of our lead programmes and looking forward to progressing their development in 2013."

The share price rose 3.23% to 48p by 11:35.

NR