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Amryt Pharma PLC

Amryt Pharma receives €8.4mln from Irish government to develop treatment for rare skin condition

The grants will be paid out over the next three years and will fund the development of Amryt’s AP103 gene therapy platform, which has shown potential as a treatment for Recessive Dystrophic Epidermolysis Bullosa

sore skin on back
Initial results from ongoing pre-clinical studies on AP103 are due in the “coming weeks”

Orphan drug developer Amryt Pharma PLC (LON:AMYT) is part of a consortium which has been awarded an €8.4mln grant from the Irish government to help develop its AP103 gene therapy platform.

The grants, to be received in various instalments over the next three years, will be matched by the consortium, which also includes University College Dublin, Curran Scientific Limited and DEBRA Ireland.

READ: Amryt's lojuxta to be available in France in early 2019

Early data has suggested AP103 has potential as a treatment for Recessive Dystrophic Epidermolysis Bullosa, a subset of Epidermolysis Bullosa. It could also be useful in treating other genetic disorders.

The injection of cash will find its development from pre-clinical testing through to in-patient clinical trials.

In addition to the primary work on AP103, the funds will also support research into the platform's underlying High Branched Poly (β-Amino Ester) (HPAE) polymer technology for the potential treatment of other genetic disorders.

“We are very pleased to have received the DTIF grant award and are grateful for the support of the Irish Government,” said Amryt chief executive Joe Wiley.

“Our innovative AP103 gene therapy platform can potentially provide new treatments for disease areas with a significant unmet medical need. This funding will help to accelerate the development of our platform from research through to patient treatment in clinical trials.”

Amryt shares rose 5.6% to 14.3p in early afternoon trading on Monday.

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Price: £0.12

Market: AIM
Market Cap: £5.67 m
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