Allergy Therapeutics says vaccine passes study


allergy therapeutics LONDON, Dec 7 (Reuters) - Biotech group Allergy Therapeutics Plc <AGY.L> said on Thursday a Phase IIa study of its orally delivered hay fever vaccine showed it to be safe and effective.

The company said it was now confident that it can go ahead and develop the vaccine, which could be the first ever oral alternative to existing injectable treatments.

"These results provide the first indication that we have the technology to deliver a painless, injection-free potentially curative allergy treatment," Chief Executive Keith Carter said.

Analysts at Bridgewell -- which has a buy rating on the stock -- said that the statement was "good news that could uniquely position the drug against its competitors".

© Reuters 2006