LONDON (ShareCast) - (Sharecast News) - Clinical-stage biotechnology company Destiny Pharma announced on Monday that its China regional partner and investor, China Medical System Holdings (CMS), is establishing a new programme with 'XF-73' targeting the prevention and treatment of superficial skin infections caused by bacteria.
The AIM-traded firm said the programme would be run in China, and would be focussed on delivering a novel product in the local regulatory environment.

It said the project would be led, managed and funded by CMS, with Destiny Pharma to contribute scientific advice as required through a steering committee to the expert dermatology team at CMS.

Destiny said CMS has an "extensive portfolio" of dermatology assets, and an "expert understanding" of the market and its requirements through its existing sales and marketing infrastructure.

The company, meanwhile, would have cross-reference rights to data generated from the programme and, in the future, could start a similar skin infection clinical programme focussed on commercial territories outside those held by CMS.

Destiny Pharma said it was currently running its own dermal programme with XF-73 in a different indication, targeting the prevention and treatment of serious infections associated with burns and open wounds.

That programme was a collaboration with both the US government's National Institute of Allergy and Infectious Diseases (NIAID), and as part of the Global AMR Innovation Fund (GAMRIF) funded UK-China bilateral partnership, managed by Innovate UK.

The new CMS initiative added a further, differentiated product to Destiny's pipeline, leveraging off the "very strong" efficacy, formulation and safety package generated to date by the XF platform.

"We are very pleased to announce the addition of this new XF-73 dermal clinical programme to our portfolio with our partner China Medical System Holdings," said chief executive officer Neil Clark.

"We are looking forward to the future development of this programme as well as our other infection prevention assets as we continue to build a high quality, late-stage biotechnology company."

At 0802 BST, shares in Destiny Pharma were up 1.8% at 113p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE