Destiny Pharma awarded Cystic Fibrosis Foundation project

12th Jul 2022 15:39

(Sharecast News) - Clinical-stage biotechnology company Destiny Pharma has received an award from the Cystic Fibrosis Foundation, it announced on Tuesday.

The AIM-traded firm said the research project would "establish the potential" of its proprietary 'XF-73' drug as a novel treatment for cystic fibrosis patients infected with methicillin-resistant staphylococcus aureus (MRSA).

It said the project would have access to clinical isolates collected from people with cystic fibrosis, with the work to be carried out by "experienced researchers" associated with the foundation.

Financial terms of the collaboration were not disclosed.

"We are very excited to carry out this project with the Cystic Fibrosis Foundation," said chief executive officer Neil Clark.

"The tailored research will allow us to demonstrate the potential of XF-73 in alleviating the suffering of thousands of MRSA-infected cystic fibrosis patients and is another programme derived from our proprietary XF platform."

At 1435 BST, shares in Destiny Pharma were up 1.15% at 38.69p.

Reporting by Josh White at Sharecast.com.