BTG: No Improvement in CytoFab Trial Vs Placebo, Ends Trials

08/08/2012| 02:42am US/Eastern

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LONDON--BTG PLC (>> BTG plc), an international specialist healthcare company, said Wednesday top-line data from a global double-blind Phase IIb study comparing the efficacy and safety of two doses of AZD9773 [CytoFab(>> TOYOTA MOTOR CORPORATION)] with placebo in patients with severe sepsis and/or septic shock conducted by AstraZeneca PLC (>> AstraZeneca plc) didn't show any significant improvements versus the placebo.

MAIN FACTS:

-AstraZeneca has decided to halt any further development of AZD9773 for the treatment of severe sepsis and/or septic shock, and will hand the asset back to BTG.

-BTG core business and trading continue on track.

-BTG doesn't anticipate conducting any further development of AZD9773.

-BTG anticipates taking a charge of 28 million pounds in the current financial year, of which GBP25 million relates to a non-cash impairment of intangible and tangible fixed assets.

-BTG shares closed Tuesday at 338 pence valuing the company at GBP1.11 billion.

-Write to Ian Walker at ian.walker@dowjones.com

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