Pipeline update

RNS Number : 9172R

BiVictriX Therapeutics PLC

11 July 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

BIVICTRIX THERAPEUTICS PLC

("BiVictriX" or "the Company" or "the Group")

Pipeline update

· Significant progress towards development of lead candidate nomination for BVX001

· Broadened pipeline with BVX002 and BVX003

· Strengthened IP with further patent applications

· Established an experienced scientific team at Alderley Park

· Robust cash position with a healthy cash runway to execute the current strategy

Alderley Park, 11 July 2022 - BiVictriX Therapeutics plc (AIM: BVX), an emerging biotechnology company applying a novel approach to develop next generation cancer therapies using insights derived from frontline clinical experience, today provides an update on the Company's recent activities. The Company has made significant progress with its lead candidate, BVX001; expanded its pipeline protection with further patent applications; and broadened its profile with attendance at international conferences and awards.

BVX001 - LEAD CANDIDATE NOMINATION IN Q4 2022

BiVictriX has made significant progress in the creation and execution of the development plan for its lead product, BVX001, since the company's Initial Public Offering (IPO) in August 2021. By investing additional time and resources, working closely with regulatory advisors, the Company is actively creating a clear path to Investigational New Drug (IND) status, minimising development risks. Notably, the work performed to date has enabled the Company to better understand the optimum range of target binding affinities for lead declaration - a milestone eagerly anticipated later this year.

BROADENING AND FURTHER PROTECTING THE PIPELINE

BiVictriX continues to expand and strengthen its strategic industrial and academic collaborations, acquiring access to state-of-the-art technical and disease area expertise for new target discovery and product development. This has allowed for the initiation of the Company's antibody selections and proof-of-concept studies for its two additional therapeutic programmes, BVX002 and BVX003. In addition, BiVictriX is able to progress as planned with the identification of further cancer-specific antigen fingerprints across a wide range of solid and haematological tumour indications.

The Company continues to optimise and invest in BVX001 and, on 29 June 2022, filed a further UK patent application for BVX001 , further reinforcing its already robust IP position.

STRENGTHENED TEAM

In line with its planned hiring strategy, BiVictriX has completed the recruitment of a highly talented scientific team establishing a fully functional technical capability within the Company's labs at Alderley Park to further progress the development of BVX001 and the wider pipeline.  

ROBUST CASH POSITION AND PRUDENT COST CONTROL

BiVictriX has a strong cash position and sufficient cash to execute its current strategy. In addition, the Company continues to assess suitable non-dilutive funding opportunities and applies prudent cash control to its operations.

BROADENED NETWORK

BiVictriX is attending major international conferences in order to broaden its network. The Company will present at the 14^th Annual PEGS Europe event in November 2022, a prestigious scientific congress well-attended by the life sciences   industry and investment spectrum. 

The Company has also won and been nominated for a variety of industry awards during the recent quarter including winning 'Investment Deal of the Year Award' at BioNow's 20^th Annual Awards. In addition, CEO Tiffany Thorn has been named regional finalist for EY's 2022 UK 'Entrepreneur of the Year™'.

Tiffany Thorn, Chief Executive Officer of BiVictriX, commented: "We remain focused on developing our lead asset, BVX001, and are making great progress. At the same time, we are exploring the breadth of our Bi-Cygni® approach across a wide array of different cancer types through our broad pipeline of anti-cancer therapeutic assets, which includes BVX002 and BVX003, and are applying our learnings to each of our programmes. I am proud of the progress we are making as a rapidly emerging biotech company and the rigour we are applying to our business.  I am of course also thrilled that we are being recognised by the industry as such."

-Ends-

For more information, please contact:

BiVictriX Therapeutics plc
Tiffany Thorn, Chief Executive Officer Iain Ross, Chairman	Email: [e-mail]
SP Angel Corporate Finance LLP (NOMAD and Broker)	Tel: [phone]
David Hignell, Caroline Rowe (Corporate Finance) Vadim Alexandre, Rob Rees (Sales and Broking) Panmure Gordon (UK) Limited (Joint Broker) Rupert Dearden, Freddy Crossley, Emma Earl	Tel: [phone]
Consilium Strategic Communications
Mary-Jane Elliott, Genevieve Wilson, Alex Gunter	Tel: [phone] Email: [e-mail]

About BiVictriX Therapeutics plc

BiVictriX is a UK-based drug discovery and development company which is focused on leveraging clinical experience to develop a class of highly selective, next generation cancer therapeutics which exhibit superior potency, whilst eliminating treatment-related toxicities.

The Company utilises a first-in-class approach to generate a proprietary pipeline of Bi-Cygni® therapeutics which are designed to selectively target antigen co-expression fingerprints, or "twin antigens", on tumour cells, which are largely absent from healthy cells. Whereas this concept has been validated in a clinical diagnostic setting to support the diagnosis and monitoring of haematological cancers, it has not yet been widely used in a therapeutic setting.

BiVictriX has identified a diverse panel of novel cancer-specific "twin antigens", across a broad range of solid tumour and haematological cancer indications. The Company is using these novel "twin-antigens" to develop more effective and safer therapeutics to target cancers that are expected to constitute orphan indications and currently constitute areas of high unmet medical need.

Find out more about BiVictriX online at www.bivictrix.com

 

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