The UK’s Circassia Pharmaceuticals, which raised £200 million through an initial public offering earlier this year, says its clinical programmes are on track, with recruitment for its Phase III cat allergy study close to completion.

The Oxford-based group says 94% of its overall target of 1,182 subjects have been enrolled for the Cat-SPIRE trial and first results are expected in the first half of 2016. Circassia also highlighted “highly encouraging results” from a Phase IIb third season follow-up study in grass allergy; it is continuing Phase III preparations for the latter.

The company added that positive mid-stage results from the Ragweed-SPIRE study will enable inclusion of subjects with controlled asthma in a Phase III trial, “extending the target population to this important group.”

The company is developing synthetic peptide immuno-regulatory epitopes (SPIREs) through its ToleroMune technology which represent “a new generation of disease-modifying therapies”. Chief executive Steve Harris said “we continue to make good progress, both in our clinical development programmes and in building the team to bring our products to market”.

The company’s cash position remains strong, standing at £192.5 million at the end of October.