Significant opportunity to address unmet medical need in paediatric adrenal insufficiency in Australia
Highlights progress in the Group’s approach of seeking approval for Alkindi® outside core territories
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical company targeting patient needs in chronic endocrine (hormonal) diseases, announces that Alkindi® (hydrocortisone granules in capsules for opening) has been granted Orphan Drug Designation in Australia by the Therapeutic Goods Administration (TGA) for the indication "replacement therapy of adrenal insufficiency (AI) in infants, children and adolescents (from birth to <18 years old)". Orphan Drug Designation in Australia provides significant benefits, including waiver of application, evaluation and annual registration fees.
Separately, Diurnal announces the grant of its second patent for Alkindi® in Australia, No: 2014267041 entitled "Composition Comprising Hydrocortisone", a pharmaceutical composition-of-matter patent protecting Alkindi®’s proprietary formulation as a treatment for all forms of AI, and is in addition to the already granted patent, No: 2012338583 entitled "Pharmaceutical Composition for treatment of Adrenal Insufficiency". These patents afford in-market protection until 2034, providing a long and robust exclusivity position in Australia for Alkindi®.
Diurnal’s marketing and distribution partner in Australia and New Zealand for Alkindi® and its second product, Chronocort® (modified release hydrocortisone), Emerge Health Pty Limited, is currently pursuing registration for Alkindi® in these markets. Australia and New Zealand represent significant market opportunities for Diurnal, with around 1,750 patients in these territories suffering from paediatric AI and the genetic condition congenital adrenal hyperplasia (CAH), providing an estimated total market opportunity for Alkindi® and Chronocort® of approximately $10 million per annum (USD).
Alkindi® is already approved and marketed in Europe and is the first preparation of hydrocortisone (the synthetic version of cortisol) specifically designed for use in children suffering from AI, including the related condition CAH.
Martin Whitaker, Chief Executive Officer of Diurnal, added:
"We are pleased to have obtained Orphan Drug Designation for Alkindi® in Australia, highlighting the importance of this product as the first specifically developed and licensed replacement therapy of paediatric adrenal insufficiency designed to address the unmet need in these young patients. This continued progress exemplifies Diurnal’s ambition to build our marketing and distribution capabilities in high value markets outside our core territories."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014 (MAR).
For further information, please visit www.diurnal.co.uk or contact:
Diurnal Group plc +44 (0)20 3727 1000
Martin Whitaker, Chief Executive Officer
Richard Bungay, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated Adviser and Joint Broker) +44 (0) 20 7886 2500
Corporate Finance: Freddy Crossley, Emma Earl
Corporate Broking: James Stearns
Cantor Fitzgerald Europe (Joint Broker) +44 (0) 20 7894 7000
Corporate Finance: Phil Davies, Will Goode, Michael Boot
Healthcare Equity Sales: Andrew Keith
FTI Consulting +44 (0)20 3727 1000
Simon Conway
Victoria Foster Mitchell
Notes to Editors
About Alkindi® (hydrocortisone granules in capsules for opening)
Alkindi® is the first preparation of hydrocortisone specifically designed for use in children suffering from paediatric adrenal insufficiency (AI). Alkindi® is a patented, oral, immediate-release paediatric formulation of hydrocortisone granules in capsules for opening that allows for accurate age-appropriate dosing in children. This therapeutic approach has the potential to help young patients less than eighteen years of age suffering from diseases due to cortisol deficiency including paediatric AI and congenital adrenal hyperplasia (CAH). AI requires...
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