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Shield Therapeutics says plenty of interest from potential US partners for iron deficiency treatment

Published: 17:22 01 May 2020 AEST

Shield Therapeutics PLC -

Shield Therapeutics PLC (LON:STX) said it has seen little disruption from the coronavirus pandemic on plans to commercialise its iron deficiency drug Feraccru.

Talks to find a partner for the product in the US, where it is known as Accrufer, are ongoing, it added, with significant interest from a range of companies.

Sales of Feraccru in Germany and the UK rose during the first quarter of 2020, according to the firm's European partner Norgine, though Shield noted this was before the full impact of the pandemic became clear.

Shield added, however, that it has had to repay a €2.5mln milestone to Norgine following the results of the AEGIS-H2H clinical study, which showed Ferracru had not met its primary endpoint of non-inferiority at 12 weeks in both the "intention to treat" (ITT) and "per protocol" (PP) populations.

Development of a liquid formulation for children has also been deferred due to the coronavirus pandemic but Shield hopes to start clinical trials in the autumn.

Due to the Norgine repayment, revenues in 2019 are now expected to be £0.7mln, Shield said. The group's cash balances as at March 31 were 11.3mln with the company’s runway extending currently into the first quarter of 2021.

In a statement, Tim Watts, who replaced Carl Sterritt as chief executive last month, said: "I am reassured that despite the current challenges presented by the global pandemic we continue to operate effectively and there has been little disruption to our commercialisation plans.

"We are encouraged by the continued interest from potential US partners during uncertain times, confident of the pressing need for our product as an effective alternative treatment for iron deficiency, and remain committed to advancing commercial discussions to secure the best deal for shareholders."

Shield Therapeutics: Analysis of data from AEGIS-H2H is strongly supportive...

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on 10/8/20