REG - Roquefort Theraptcs. - Operations Update

Roquefort TherapeuticsAnnouncement

06/02/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240206:nRSF0796Ca&default-theme=true

RNS Number : 0796C  Roquefort Therapeutics PLC  06 February 2024

6 February 2024

 

Roquefort Therapeutics plc

("Roquefort Therapeutics" or the "Company")

Operations Update

 

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market listed biotech
company focused on developing first in class medicines in the high value and
high growth oncology market, provides an update on its pre-clinical drug
development programs, Randox licencing agreement and out-licencing
discussions.

 

Pre-Clinical Drug Development Programs

Further to the Company's announcement on 6 November 2023, where Roquefort
Therapeutics' announced that new test results for its MK cells combined with
natural killer (NK) cells demonstrated a profound cancer killing effect across
solid, lymphoma and leukaemia in validated in vivo models, the Company has
continued studies in validated models of NK cell activation and cytotoxicity
and demonstrated an anti-cancer effect in leukaemia. This efficacy was
superior to NK cells alone confirming that the MK cells activate NK cells. NK
cell activation is a new field with high commercial potential in which large
pharmaceutical partners completed significant deals in 2022 and 2023.

 

During Q1 2024 the Company's Midkine RNA oligonucleotide and STAT-6 siRNA
programs have been undergoing studies in combination with proprietary lipid
nanoparticle (LNP) delivery systems. The initial studies have shown successful
encapsulation with the LNPs and biological activity of the combination in
liver cancer. Further results are expected to be reported by the end of Q1
2024.

 

Randox Licencing Agreement (Diagnostics)

As announced in February 2023, the Company signed a Licence and Royalty
Agreement with leading diagnostics group, Randox Laboratories ("Randox") in
relation to its Midkine antibody portfolio.  Randox is developing and
manufacturing human in vitro diagnostic (IVD) tests to detect the high Midkine
levels associated with cancer and other diseases. These IVD tests will
accelerate Roquefort Therapeutics' portfolio of Midkine medicines in clinical
trials and, subject to approval, in diagnosing patients with Midkine
expressing cancers.  As Randox's development progresses the Company expects
to receive further milestone payments during 2024 and, upon success, this is
expected to generate royalties for the Company from 2025.

 

Out-Licencing Discussions (Therapeutics)

In line with its strategy, the Company is currently engaged in confidential
out-licencing discussions with potential partners, including large
pharmaceuticals companies and a specialist private equity fund.  A further
announcement will be made should a binding agreement be entered into with one
or more partners. The programs and jurisdictions being negotiated include the
Midkine antibodies and STAT-6 isRNA programs, and relate to licences for the
US, Europe and Japan markets.

 

Roquefort Therapeutics CEO Ajan Reginald commented:

"We have been making great progress across our pre-clinical drug development
programs and are particularly excited with the recent results from our MK cell
program which is a very attractive novel therapeutic approach. The MK cell
program has demonstrated both direct killing and natural killer cell
activation in a commercially attractive field which has significant interest
from large pharmaceutical companies. MK cells are a new class of cellular
medicine and add to the Midkine programs and the siRNA program to create a
portfolio of five first-in-class medicines.

 

We are pleased with the progress our Midkine diagnostics licencing agreement
with Randox is making and the IVD tests not only validate Midkine as a target,
but it will also help accelerate our Midkine portfolio in the clinic, further
adding to its commercial appeal.

 

We are delivering on our strategy to select and acquire novel science and to
precisely develop this into commercially valuable medicines.   We are
developing first in class medicines, which given the patent cliff faced by big
pharma, are some of the most valuable assets in the Biopharmaceutical space.
The Company remains in discussions with multiple potential partners and looks
forward to updating shareholders as to our progress in due course."

 

ENDS

Enquiries:
 Roquefort Therapeutics plc
 Stephen West (Chairman) / Ajan Reginald (CEO)  +44 (0)20 3918 8633

 Hybridan LLP (Joint Broker)

 Claire Louise Noyce                            +44 (0)203 764 2341

 Optiva Securities Limited (Joint Broker)
 Christian Dennis                               +44 (0)20 3411 1881

 Buchanan (Public Relations)

 Ben Romney / Jamie Hooper / George Beale       +44 (0)20 7466 5000

 

LEI: ‎254900P4SISIWOR9RH34

 

About Roquefort Therapeutics

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF) is a Main Market listed biotech
company developing first in class drugs in the high value and high growth
oncology segment prior to partnering or selling to big pharma.

 

Since listing in March 2021, Roquefort Therapeutics has successfully acquired
Lyramid Pty Limited, a leader in the development of medicines for a new
therapeutic target, Midkine (a human growth factor associated with cancer
progression), and most recently acquired Oncogeni Ltd, founded by Nobel
Laureate Professor Sir Martin Evans, which has developed two families of
innovative cell and RNA oncology medicines.

 

Roquefort Therapeutics' portfolio consists of five novel patent-protected
pre-clinical anti-cancer medicines.  The highly complementary profile of five
best-in-class medicines consists of:

·    Midkine antibodies with significant in vivo efficacy and toxicology
studies;

·    Midkine RNA therapeutics with novel anti-cancer gene editing action;

·    Midkine mRNA therapeutics with novel anti-cancer approach;

·    STAT-6 siRNA therapeutics targeting solid tumours with
significant in vivo efficacy; and

·    MK cell therapy with direct and NK cell-mediated anti-cancer action

 

For further information on Roquefort Therapeutics,
please visit www.roquefortplc.com (http://www.roquefortplc.com/)
 and @RoquefortTherap on X (formerly Twitter).

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDGZGGZNKZGDZM