- Allergy Therapeutics has received approval for a phase II clinical trial of investigating the dosing of PQ Grass, an ultra-short course, aluminium free subcutaneously injected product with the potential to cure grass pollen-induced allergic rhinitis.

The group said it estimated that the US - which was anticipated to be the main market for this product if successful - was worth $2bn with potential peak sales of $300m per annum.

It said that if approved, the product would be the first registered subcutaneous immunotherapy product in the US.

The group said it expected the phase II trial to begin imminently.

It said the trial would take place in in Germany, Poland and Austria and would involve approximately 440 patients.

It said the results of the trial were expected in H2 2018.

Allergy Therapeutics said the trial was part of a continuing clinical trial programme aimed at developing the PQ Grass platform worldwide.

It added: 'Following completion of this trial, meetings with the regulatory authorities in the US and Germany will be necessary before it progresses to a phase III trial.'

At 9:27am: [LON:AGY] Allergy Therapeutics PLC share price was +1.25p at 32.75p

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