18 August 2022

Vela Technologies plc

("Vela" or "the Company")

Update re. St George Street Capital Ltd

Lancet Review for ARCADIA Phase 2 Clinical Trial

The Board of Vela (AIM: VELA), an AIM-quoted investing company focused on early-stage and pre-IPO disruptive technology investments, notes that St George Street Capital Ltd ("SGSC"), has today announced the publication in Lancet eClinicalMedicine of details of the ARCADIA clinical trial which investigated AZD1656 for people with diabetes and COVID-19.

Vela holds an economic interest in the commercialisation of AZD1656, details of which were included in the announcement published by Vela on 20 October 2020.

Highlights:

·      ARCADIA trial investigated AZD1656 for people with diabetes hospitalised with COVID-19.

·      Patients in the AZD1656 arm were observed to have lower mortality and AZD1656 was shown to have immunomodulatory capability (as predicted).

·      The article in The Lancet, one of the world's leading peer-reviewed medical journals, can be found at https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(22)00334-0/fulltext

·      Vela notes the statement from SGSC that 'the evidence presented here suggests that specific activation of Tregs might suppress the inappropriate inflammation which is the prime cause of tissue damage in autoimmune disease.' This reinforces the mode of action will potentially work in a wide range of autoimmune diseases.

·      SGSC is continuing to have discussions with potential partners regarding AZD1656.

Extract from SGSC press release

St George Street is pleased to announce the publication in Lancet eClinicalMedicine of our Phase 2 clinical trial, ARCADIA, which investigated AZD1656 for people with diabetes hospitalised with COVID-19. Patients in the AZD1656 arm were observed to have lower mortality; additionally, AZD1656 was shown to have immunomodulatory capability, as predicted. The paper also details our sub-group analysis of patients considered to be at higher risk of worse COVID-19 outcomes, either with elevated IL-6 or those with low Vitamin D status. As surmised in the paper: "the evidence presented here suggests that specific activation of Tregs might suppress the inappropriate inflammation which is the prime cause of tissue damage in autoimmune disease."

St George Street is continuing to have discussions with potential partners regarding AZD1656.  

The Lancet article can be found at https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(22)00334-0/fulltext

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About Vela Technologies

Vela Technologies plc (AIM: VELA) is an investing company focused on early stage and pre-IPO long term disruptive technology investments. Vela's investee companies have either developed ways of utilising technology or are developing technology with a view to disrupting the businesses or sector in which they operate. Vela Technologies will also invest in already-listed companies where valuations offer additional opportunities.