Shield Therapeutics (LON:STX) announced on Tuesday that it has reported positive results from a study of an iron deficiency treatment in adults suffering from inflammatory bowel disease. Shares in the company were trading almost 11.5% higher following the announcement.
The results are part of a “pivotal” study of Feraccru, a new ferric iron therapy that is approved and marketed within the EU for the treatment of iron deficiency in adults. It is also marketed in Switzerland for the treatment of iron deficiency anaemia in adults with inflammatory bowel disease.
Feraccru is currently undergoing a process of US approval and a decision is expected in July 2019.
In December, the company announced that it was set to expand its iron deficiency treatment for children, with child trials being introduced in 2019.
Chief Medical Officer of Shield Therapeutics, Dr Mark Sampson, commented on the announcement:
“Iron deficiency is a significant and progressive issue in patients with chronic renal disease which has been challenging to treat due to poor compliance with traditional oral iron salts. These results suggest that Feraccru offers a well-tolerated and effective treatment option which can benefit patients over the long-term.”
Additionally, CEO and founder of Shield Therapeutics, Carl Sterritt, said:
“Such positive long-term treatment data for Feraccru in complex patients with chronic diseases like CKD provides a very promising signal for the future commercial success of Feraccru. Having previously seen similar positive long-term effects in IBD patients with IDA this further clinical trial data provides additional evidence that Feraccru is well-tolerated by a majority of treated patients and is effective at correcting IDA. We hope that this positive data provides the necessary evidence to both prescribers and patients with iron deficiency with or without anaemia that Feraccru offers a simple to administer, well tolerated and efficacious treatment alternative that does not require hospital-based administration.”
Shield Therapeutics appointed a new chairman earlier in January, after the former chairman, Andrew Heath, stood down from his position at the company’s AGM.
At 08:58 GMT today, shares in Shield Therapeutics plc (LON:STX) were trading at +11.44%.
