Evgen raises £2.3m as Sulforadex trials progress

Virtual pharmaceutical company Evgen announced on Monday that it was progressing in Phase II clinical trials of SFX-01 for both subarachnoid haemorrhage and ER+ breast cancer, with readouts expected at or around the end of 2018.

The AIM-traded firm also confirmed it had strengthened its balance sheet, with a placing to raise new funds of £2.3m gross.

“Evgen is a virtual pharmaceutical company focused on the development of a synthetic version of a natural product, sulforaphane, which is known to modulate key signalling pathways involved in cellular protection and inflammation,” the company’s board explained in its short update to the market.

“Evgen's proprietary technology, Sulforadex, creates new and stable variants of sulforaphane, enabling it to be used as a therapeutic for the first time.”