Released: Monday 24th April 2023

Edinburgh, 24 April 2023

Medannex’s First-in-class Therapy Awarded UK ‘Innovation Passport’ to Accelerate Time to Market

Medannex Ltd (Edinburgh) today announced the award of an Innovation Passport from the UK’s Innovative Licensing and Access Pathway (ILAP) Steering Group, which includes the MHRA, NICE, All Wales Therapeutics and Toxicology Centre, the Scottish Medicines Consortium and representatives from the ILAP Patient and Public Reference Group.

The ILAP supports the development of innovative medicines, offering enhanced regulatory input to accelerate the time to market, thereby facilitating patient access to groundbreaking treatments. The Innovation Passport also links to Project Orbis which allows for collaboration with the FDA for review and approval of promising cancer treatments.

MDX-124 is the first medicinal product to target annexin-A1, a protein that plays a key role in the development of cancers and autoimmune diseases. With this award, the ILAP Steering Group recognises MDX-124 as an innovative medicine with the potential to offer benefits to patients with life-threatening or seriously debilitating conditions.

The Innovation Passport for MDX-124 was awarded for the treatment of pancreatic cancer, one of several tumour types under investigation in the first-in-human study (‘ATTAINMENT’) of Medannex’s monoclonal antibody therapy.

Medannex CEO Ian Abercrombie said: ‘the ILAP Innovation Passport award, together with our recent European orphan designation, represents a significant endorsement of the major therapeutic potential of our novel annexin-A1-targetting technology. This is further strengthened by the fact that MDX-124 will be tested in front-line therapy as soon as the optimal clinical dose is established, which is very rare for an Investigational Medicinal Product.’

About Medannex Ltd: Medannex is a clinical-stage Scottish biopharmaceutical company headquartered in Edinburgh. The company is developing novel treatments for various cancers, autoimmune diseases and other conditions: https://medannex.org

About MDX-124: MDX-124 is a humanised monoclonal antibody, and the first agent to specifically target and inhibit annexin-A1, a protein known to play a key role in the development of cancers, autoimmune diseases and other conditions. Medannex will generate initial clinical data in 2023 from a first in human study evaluating MDX-124 in patients with locally advanced, unresectable or metastatic solid malignancies.