Destiny successfully completes preclinical study of dermal formulation

Clinical-stage biotechnology company Destiny Pharma announced the successful completion of a preclinical safety study with a novel ‘XF-73’ dermal formulation on Tuesday.

The AIM-traded firm said the study was the first of two preclinical safety studies of its lead XF-73 dermal formulation, carried out as part of a non-clinical evaluation agreement with the National Institute of Allergy and Infectious Diseases (NIAID) - part of the US National Institutes of Health.

It said the study met its objectives, and generated positive data which would “clear the path” for its progression into the second and final clinically‑enabling regulatory safety study.

Both studies were being conducted through NIAID's suite of preclinical services.

Destiny said it was developing the novel dermal formulation of XF-73 for the prevention of infections associated with open wounds and broken skin, including diabetic foot ulcers.

The company said it would continue to work with NIAID to complete the preclinical safety package, to support the future clinical development of XF-73 dermal in serious wound infections.

Destiny said the study was expected to be completed in 2022.

“We are very pleased with the encouraging data from our novel XF-73 dermal formulation which is aimed at meeting a clear clinical need in a large market where peak product sales could reach half a billion US dollars,” said chief executive officer Neil Clark.

“This programme is well placed to deliver a second clinical candidate from our XF platform following the excellent phase 2 clinical results generated for the XF-73 nasal gel for the prevention of post-surgical infections caused by staphylococcal aureus.”

At 1338 GMT, shares in Destiny Pharma were down 0.58% at 86p.