Shares in clinical stage biotechnology company Destiny Pharma (DEST:AIM) surged 23% to 195.6p after it released positive results from its Phase IIb trail of antimicrobial nasal gel XF-73.
The gel is a new product for the prevention of post-surgical infections such as methicillin-resistant Staphylococcus aureus known as MRSA.
Four doses of XF-73 nasal gel in the 24 hours before incision and the start of surgery reduced harmful bacteria by 99.5%, which is considered a ‘very high’ reduction. The treatment also showed an excellent safety profile with no treatment related adverse events.
Chief executive Neil Clark commented, ‘The use of existing preventative treatments is severely limited by the existence, and fear of generating, drug resistant bacteria.
‘In contrast, XF-73 has been shown not to generate drug resistant bacteria, and this superior bacterial resistance profile makes it ideally suited for widespread use for the prevention of post-surgical infections.’
HUGE MARKET OPPORTUNITY
The company believes there is a $1 billion commercial opportunity for selling XF-73 in US hospitals. The XF-73 treatment has been awarded Qualifying Infectious Disease Product and Fast Track status by the US regulator the Federal Drug Agency.
Destiny will now discuss possible Phase three clinical study designs with regulatory bodies.
Antimicrobial resistance is becoming a huge threat, prompting urgent calls for treatments from the likes of the World Healthcare Organisation.
Economist Lord Jim O’Neill has estimated that around 700,000 deaths could be attributed to anti-microbial resistance every year.
O’Neill reckons the number of deaths associated with antimicrobial resistance will outstrip combined deaths from cancer and diabetes by 2050, so today’s news from Destiny could be an important breakthrough in the fight against MSRA.
