Companies: YRK   

Dermatology specialist York Pharma says it has discovered key new applications for its Abasol fungal infection treatment.

The Hitchin-based company says it has filed a patent application for a new formulation of Abasol, based on anti-fungal product Abafungin, to treat fungal infection of the nails, or onychomycosis. Abasol cream is currently awaiting approval from the UK Medicine and Healthcare Products Regulation Agency to treat skin infections, and AIM-quoted York says its new Abasol gel formulation can deliver the drug into and through the nail.

The company maintains that Abasol gel needs no prior filing of the nails before it is applied, unlike lacquers now in use, and, unlike them again, does not leave a hard gloss film when it dries. Arguing that the world onychomycosis market is worth £850 million a year, chief executive Terry Sadler claims ‘the new gel formulation for Abasol extends York Pharma’s exclusive position in a valuable and unsatisfied market with a formulation the company is now looking to take forward into clinical development’.

York, which lost £3.2 million in the first half-year, has proved itself acquisitive, recently buying another company in the sector, Derms Development, in a £10.75 million paper deal. Its shares soared from 2004’s 25p float price to 216.5p in May 2005 before falling back to 93.5p more recently.

At 108p, up 2.5p this morning and valuing the company at £35 million, they have some speculative potential.

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York Pharma	AIM	£9.85m	16.25p	-0.75p
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Other company articles:
York loses interim £4.5m			29/05/2008
York Pharma upbeat after loss			23/11/2007
York Pharma hails research success			30/10/2007
New deals for York Pharma			24/04/2007
York Pharma			18/07/2006