Acquisition Opportunity – Atlantic Healthcare PLC in Administration

The directors of the two wholly owned subsidiaries have made the following comments:

Alicaforsen

Alicaforsen, an antisense oligonucleotide, was initially developed as a systemic (intravenous)  treatment for  Inflammatory Bowel Diseases although the more recent focus has been on localized topical delivery formulations (enema and oral) for the same indications. During 2022 the company repositioned alicaforsen to exploit significant new opportunities for the treatment of Immune Checkpoint Inhibitor Induced Colitis (ICIC).

Renzapride

Renzapride has been developed to treat motility disorders in both the upper and lower gastrointestinal tract and carries the potential to move into new clinical indications where GI side effects are prevalent (cystic fibrosis, Parkinson’s gastroparesis, and systemic scleroderma).

It should be noted that the ownership of the Renzapride asset is still being investigated by the Administrators.   Further information will be available during the due diligence process.

The Companies have undertaken extensive work on the development of clinical IP and safety data for these drugs and further information is available on request, subject to the receipt of a signed non-disclosure agreement.

Key Selling Points

• Alicaforsen has undergone significant phase 2 and phase 3 clinical development for the treatment Inflammatory Bowel Disease (“IBD”) and has been found to be extremely well-tolerated with no off-target unwanted effects. This has been further supported by over 350 patient courses supplied on a Named Patient Programme.
• Studies performed by world leading key opinion leaders (“KOL’s”) confirm the ongoing development potential of Alicaforsen in Ulcerative Colitis (UC), to date there have been four Phase 2 trials completed in this indication.
• The same KOL’s also advise that a fresh opportunity has presented itself for the development of new intellectual property in a significant new clinical indication, Immune Checkpoint Inhibitor Induced Colitis (“ICIC”), a $40bn market with the potential to double over the coming decade.
• The Atlantic team has developed a plan to conduct animal studies to bring this indication forward for development. In particular, they have focussed on an optimised formulation which increases the TLR9 antagonist activity in-line with a recently granted patent.
• The Alicaforsen ICIC development programme has the potential to trigger new value inflection points at the various development milestones (9 months and 30 months from initial trial commencement).
• Separately, Renzapride carries the further potential to develop a treatment regime for patients with motility issues.

Next steps

Further information can be provided on request and following receipt of a signed non-disclosure agreement.

Offers are invited in relation to the shares of either or both of the Companies.

Contact

For further information, please contact:

Dominic Thorp

E: dominic.thorp@mazars.co.uk        

T: (+44) 7580 130 396