Sigmoid provides financial and product development update
Published on May 19, 2012 at 12:27 AM
Pharma Ltd. (Sigmoid), a privately-owned, specialty pharmaceutical
and drug delivery company registered in Ireland, today provides an
update on significant progress in 2011 and 2012. Sigmoid's AGM takes
place today at 5 pm GMT
Product development pipeline update
lead candidate for ulcerative colitis has completed a Phase II
multi-centre, placebo-controlled, randomised clinical trial in more
than 100 patients. Plans are underway to further evaluate CyCol™ in
pivotal clinical trials.
Technology development update
proprietary oral drug delivery technology has demonstrated benefit in
targeting delivery of poorly soluble drugs to the GI tract
improving permeability and oral bioavailability of peptides
facilitating oral delivery of vaccines in dosage forms that are
stable at room temperature.
Sigmoid has appointed Thomas G.
Lynch as Chairman of the board, Gerard Ryan as a non-executive
Director of the board, Dr. David Roblin as Chief Medical Officer, and
Rosemarie Tully as Chief Business Officer.
Medical and Scientific Expert Committee established
has secured the support of leading international thought leaders in
gastroenterology and immunology who will advise on the appropriate
development of CyCol™ and Sigmoid's follow on gastrointestinal disease
and vaccine pipeline programmes.
Sigmoid has closed a private financing
round of over €3 million (US $4 million) in Q1 2012. Andreas McConnell
of Philip Lee Solicitors advised Sigmoid in the fund-raising. Sigmoid
has secured EU FP7 funding as part of the ADITEC Advanced immunization
technologies consortium and TRANS-INT oral nanomedicine consortium.
Dr. Ivan Coulter, founder and CEO of Sigmoid said "I am delighted with
the significant progress made at Sigmoid over the past 18 months, and
believe Sigmoid is well positioned as we transition from pre-proof of
concept stage to an emerging speciality pharmaceutical company with the
promise of meaningful therapeutic interventions for unmet patient needs
as well as having advanced drug delivery technologies to address the
ongoing industry challenges of poor aqueous solubility, poor
permeability, gastrointestinal targeting and product stability".
Thomas G. Lynch, chairman of the Board of Sigmoid said "Sigmoid is at a
very exciting stage and is poised for growth on a number of fronts. I
look forward to being involved in steering Sigmoid's evolution towards a
revenue-generating, profitable pharmaceutical company that can bring
real benefits to patients and people at risk of disease in the developed
and developing word.
"Dr. David Roblin commented "After leaving Pfizer, I decided to work
with companies that I believe are advancing exciting science and
technologies with a strong likelihood of bringing important new
medicines to patients and value to investors. I was attracted to Sigmoid
because of the team's innovative approach rooted in sound scientific
evidence. Building on its broadly-applicable SmPill™ oral drug delivery
technology as well as a deep understanding of gastrointestinal disease,
Dr. Coulter and his team have the potential to bring new treatment
options to patients in areas of clinical practice where these
breakthroughs can have real impact."