Allergy Therapeutics PLC Trading Update (9180F)
November 18 2015 - 4:16AM
UK Regulatory
TIDMAGY
RNS Number : 9180F
Allergy Therapeutics PLC
17 November 2015
17 November 2015
Allergy Therapeutics plc
("Allergy Therapeutics" or the 'Company")
Trading Update
Allergy Therapeutics, the fully integrated specialty
pharmaceutical company specialising in allergy vaccines, today
provides the following trading update covering the first four
months of the 2016 financial year ("the Period").
European demand for Allergy Therapeutics' unique short course
aluminium free allergy vaccines has continued to be strong since
the year ended 30 June 2015. The Company's like-for-like sales
measured in constant currency increased by 12% in the Period
compared with the same period in 2014. Including the Alerpharma
acquisition completed in June 2015, constant currency sales
increased 15% over the Period. Growth was notably strong in
Germany, Austria, Netherlands and Spain and the Company continued
to increase its market share during the Period.
Given the results are traditionally strongly weighted towards
the first half of the Company's financial year, the Board remains
confident of strong results for the full year.
The Board also announces today that the Company has acquired the
licence for Virus Like Particles ("VLP"), a new technology to be
used in the treatment of peanut allergy, an $8bn p.a. addressable
market globally. The Company intends to use the VLP licence in the
development of Polyvac Peanut, a new injectable vaccine
immunotherapy treatment for allergy sufferers, through to Phase I
clinical trials. Polyvac Peanut represents the Company's first move
into products for treatment of food allergies and, to demonstrate
the extent of the market opportunity, in the US alone, there are
approximately 3 million people with peanut allergy and 100 - 150
attributable deaths each year. This therefore represents a
significant and strategically important new area for the Group.
The Company also continues to progress a number of other
opportunities in existing and new areas of immunotherapy treatment,
including its programme to clinically develop Pollinex Quattro
Grass through to FDA approval and subsequent launch in the US,
anticipated for 2019. The Board believes that a combination of the
Company's strong product profile, positive sales momentum coupled
with an ongoing disciplined investment in research and development
will continue to win market share and accelerate growth in the
current year and beyond.
In light of the gathering momentum across all areas of the
business, the Board will today also announce a placing to raise up
to GBP12 million for the Company, to enable the Group to capitalise
further on the incremental organic and inorganic growth
opportunities available.
For further information:
Allergy Therapeutics +44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer
Ian Postlethwaite, Finance Director
Panmure Gordon +44 (0) 20 7886 2500
Freddy Crossley / Peter Steel / Duncan Monteith,
Corporate Finance
Tom Salvesen, Corporate Broking
FTI Consulting +44 (0) 20 3727 1000
Simon Conway
Mo Noonan
Victoria Foster Mitchell
Note to editors:
About Allergy Therapeutics
Allergy Therapeutics is a specialty pharmaceutical company
focused on allergy vaccination. It has a growing business achieving
revenue in the last financial year of GBP43 million mainly in
Europe through its own sales and marketing infrastructure and
further afield through distributors.
This information is provided by RNS
The company news service from the London Stock Exchange
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