Destiny Pharma out-licenses NTCD-M3 to Sebela
Shares of UK infectious disease specialist Destiny Pharma (AIM: DEST) closed down almost 25% at 36.10 pence on Friday, despite the company announcing a licensing deal that could earn it more that half a billion dollars, albeit heavily back-loaded.
Destiny has signed an exclusive collaboration and co-development agreement for the North American (USA, Canada and Mexico) rights of NTCD-M3, its lead asset for the prevention of Clostridioides difficile infection (CDI) recurrence, with USA-based Sebela Pharmaceuticals, a company with a market-leading position in gastroenterology.
The share price slump was caused by Destiny’s announcement of a share placement, but the deal with Sebela should de-risk the Phase III trial of the drug. The phase III trial will start next year and there could be a commercial launch in 2027 if everything goes to plan.
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