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Phylogica announces CEO Update

Phylogica (ASX:PYC) is the owner of a peptide library containing the extraordinary richness and diversity of nature and is using these libraries to develop a delivery platform capable of reaching the highest value drug targets located inside cells.

Phylogica is pleased to provide the following operational update and CEO letter to the market.

Operational update:

  • Experimental timelines are on track to assess the ability of our ‘original’ lead Cell Penetrating Peptide (CPP) to deliver the Cre cargo into the nucleus of cells in multiple tissues in a live animal (in vivo model) in July1 - a significant technical milestone in the validation of our platform;
  • We have already commenced high throughput (at scale) screening of our re-populated libraries to identify additional CPPs – leveraging the richness of our libraries to build a true intracellular delivery platform; and
  • Our ‘base case’ (no revenue) cash runway extends into CY20192 on current expenditure projections – if revenue is generated through commercial arrangements with parties seeking access to Phylogica’s technology this will supplement current cash runway forecasts.
CEO letter highlights:

  1. The macro trend within the Pharmaceutical industry towards the pursuit of intracellular targets is encouraging – there is a large and rapidly growing target market for our technology;
  2. Within the field of intracellular drug delivery, the benefits of CPPs are increasingly being recognised – we are in the right place at the right time; and
  3. Phylogica has a real near-term opportunity to demonstrate a competitive advantage by showing head to head outperformance of the current delivery approach for cargoes of interest – we have a clear path to platform validation.

For further information please download PDF attached: Download this document