REG - BiVictriX Therapcts. - Pipeline update

Bivictrix TherapeuticsAnnouncement

11/07/2022 07:00

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RNS Number : 9172R  BiVictriX Therapeutics PLC  11 July 2022

 

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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: info@bivictrix.com

 SP Angel Corporate Finance LLP (NOMAD and Broker)  Tel: +44 (0) 20 3470 0470
 David Hignell, Caroline Rowe (Corporate Finance)

 Vadim Alexandre, Rob Rees (Sales and Broking)

 Panmure Gordon (UK) Limited (Joint Broker)         Tel: +44 (0) 20 7886 2500

 Rupert Dearden, Freddy Crossley, Emma Earl

 Consilium Strategic Communications
 Mary-Jane Elliott, Genevieve Wilson, Alex Gunter   Tel: +44 (0) 20 3709 5700

                                                    Email: Bivictrix@consilium-comms.com (mailto:Bivictrix@consilium-comms.com)

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
(http://www.bivictrix.com)

 

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