Allergy Therapeutics PLC on Wednesday said that phase-3 trials of its grass allergy injection yielded positive results, moving the product closer to market entry.

The Sussex-based biotechnology company says its Grass MATA MPL candidate aims to target grass pollen-induced allergy symptoms.

During testing, the product demonstrated ‘highly statistically significant’ reductions in symptoms compared to a placebo group over the peak pollen season. The product also demonstrated ‘an acceptable safety and tolerability profile’.

The first scientific advice meeting with regulators is set to occur in the first quarter of 2024, and will set out Allergy’s path towards market authorisation.

Chief Executive Officer Manuel Llobet said: ‘These data, alongside the results from our earlier G309 field study, provide a strong, significant and consistent data package for our discussions with relevant health authorities.’

Allergy Therapeutics shares were up 13% at 2.20 pence each in London on Wednesday morning.

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