Evgen Pharma signs service agreement with drug development corsortium

AIM-listed Evgen Pharma has signed a services agreement with a consortium of Cheshire-based drug developments firms for its sulforaphane product.

APT Trans, the consortium of drug developers based in the Biohub at Alderley Park, which comprises of Aptus Clinical, Apconix and Seda Pharmaceutical Development Services, aims to help clients transform promising molecules into valued medicines.

The deal will support the development of Evgen’s lead product SFX-01, a patented composition of synthetic sulforaphane and alpha-cyclodextrin.

Ned Wakeman, director of Biohub, said: "The APTrans initiative is a tangible example of how the environment here can accelerate business value. The companies within APTrans all spun out from AstraZeneca, participated in business acceleration programmes, and are thriving in their own right. We are passionate about nurturing an open and collaborative environment where like-minded companies can work, socialise and support each other, and are proud to share in the combined successes of these great companies."

Dr Stephen Franklin, founder and chief executive of Evgen Pharma, added: "We selected this excellent group of providers as our partners as they have a proven track record of working well together and they are all co-located at the Biohub where we too have a presence."

Shares in Evgen Pharma were up 2.7% to 19p at 0804 GMT.