Allergy Therapeutics PLC (LON:AGY) said the results of its Phase II clinical trial are due to be published ahead of expectations early in the second-half following the completion of patient recruitment.
The study of its PQ Grass immunotherapy, an aluminium-free, ultra-short course hay fever treatment, is designed to evaluate dose response and safety.
READ: Allergy Therapeutics expects first-half revenue rise; continues to take market share from rivals
In all, 440 people at 50 centres in Germany, Austria and Poland are taking part in the clinical assessment of the inoculation, the company said in a statement on Monday.
Big US market
However, one of the key target markets for the PQ Grass is the US, where it would be the first immunotherapy injection to be registered and where peak grass vaccine sales could be US$300-$400mln a year.
Chief executive Manuel Llobet said: "The completion of recruitment for all patients in our phase II trial is an important step in our journey towards access to the US market in which PQ Grass has the potential to become a convenient, best in class, ultra-short course subcutaneous immunotherapy.
“We are pleased that the study is running ahead of schedule and look forward to seeing the results later this year."
The company has three growth ‘pillars’, which includes growing strongly in its European heartland where it has a robust, profitable business.
It wants to do this by expanding its market share and making additional product registrations.
It has a strong pipeline of products coming through and investment in this regard will help underpin the bedrock of the business. This is growth pillar two.
The third is the US, which as the largest allergy market in the world, provides a significant opportunity. The environment there is changing, potentially driving new customers towards the firm’s products.
As mentioned above, the potential market size of the US could be transformational for Allergy Therapeutics as the graphic below reveals.
Allergy Therapeutics has an 80-year history and so is no “jam tomorrow” drug development company and was spun out of SmithKline Beecham in 1999.
No flash in the pan
Headquartered in Worthing, West Sussex, it employs around 500 people.
Its most commonly prescribed vaccines are used to treat pollen-related allergies, particularly allergies to grasses and trees.
It has a strong presence in Europe, with established operations in Germany, Italy, Spain, Austria, Switzerland, the Netherlands and the United Kingdom, while in other markets it often makes its products available through distribution partners.
Its Pollinex Quattro vaccine for the treatment of seasonal allergic rhinitis (hay fever) from grass, tree or ragweed pollen allergy is already established in Europe.