REG - Roquefort Theraptcs. - Pre-clinical Program & Transaction Update

Roquefort TherapeuticsAnnouncement

11/08/2022 07:00

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RNS Number : 6021V  Roquefort Therapeutics PLC  11 August 2022

11 August 2022

 

Roquefort Therapeutics plc

("Roquefort Therapeutics" or the "Company")

 

Pre-clinical Program & Transaction Update

Successful proof of principle for first-in-class drug program

 

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market listed biotech
company focused on early-stage opportunities in the biotechnology sector, is
pleased to provide an update on the progress of its proprietary Midkine
("MDK") antisense oligonucleotide* pre-clinical drug development program, on
its patent portfolio and on the Oncogeni transaction.

 

MDK Pre-clinical Drug Development Program

Since the announcement on 7 June 2022, where the Company reported that its
collaborative cancer research project with Professor Steve Wilton and his
colleagues at Murdoch University in Perth, Australia had demonstrated >90%
efficacy at the mRNA level, the Company has been focused on in vitro
experiments to test and demonstrate the ability of the novel MDK
oligonucleotide drugs to reduce production of full length MDK in cancer cells.
It is important to reduce MDK because high MDK levels are prevalent in many
solid tumours and are associated with metastasis, poor response to treatment
and poor patient prognosis.

 

The in vitro experiments have been completed with the Company's proprietary
oligonucleotides successfully reducing high MDK levels in cancer cells by
generating a truncated form of the MDK protein. The switch to the truncated
MDK is consistent with the >90% efficacy at the mRNA level previously
reported. These positive results demonstrate the pre-clinical proof of
principle in cancer for the antisense oligonucleotide drug development program
and underpin the Company's ability to progress to in vivo studies and clinical
trials in due course targeting MDK in cancer. These results underpin the
potential for first-in-class medicines targeting the "hard to treat" cancers
that express Midkine.

 

Patent Portfolio

The Company has recently updated its filed patent in Australia and has also
filed a UK patent to protect the composition of the truncated MDK, mRNAs and
antisense oligonucleotides, which further consolidates the Company's
leadership position in the MDK patent field.

 

The Company will update the market on the progress of these key programs in
due course.

 

Oncogeni Transaction & Placing

Further to the announcement on 22 June 2022, the Company advises that it is
working on publishing a prospectus, completing the acquisition of the entire
issued capital of Oncogeni Limited ("Oncogeni") and completing the £1,015,000
placing as soon as possible.  In anticipation of completion of the
acquisition, the Company has commenced use of Oncogeni's state of the art
laboratory in Stratford-upon-Avon and is preparing to carry out an innovative
in-house program of research and development.

 

*antisense oligonucleotides are small pieces of DNA or RNA that can bind to
specific molecules of RNA. This blocks the ability of the RNA to make a
protein, or the RNA's ability to work in other ways. Antisense
oligonucleotides may be used to block the production of proteins needed for
cell growth. They are being studied in the treatment of several types of
cancer.

 

Stephen West, Executive Chairman, commented:

"These positive results demonstrate the pre-clinical proof of principle in
cancer for our innovative antisense oligonucleotide drug development program
and underpin the potential for a first class medicine in the highly valuable
solid tumour cancer market.  Following these results, the Company can
progress towards in vivo, and clinical studies.

 

"I am optimistic for Roquefort Therapeutics' future and look forward to
updating the market as to the progression of the Oncogeni Transaction, as well
as our exciting drug development programs."

 

-Ends-

 

Enquiries:
 Roquefort Therapeutics plc
 Stephen West (Chairman)                    +44 (0)20 3290 9339

 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

 

 

 

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

 

LEI: ‎254900P4SISIWOR9RH34

 

About Roquefort Therapeutics

Roquefort Therapeutics (LSE:ROQ) is a Main Market listed biotech company
developing products through the pre-clinical phase prior to partnering or
selling to big pharma.  The Company is a pre-clinical biotech company
focused on developing first in class Midkine targeting drugs for the treatment
of cancer.

 

Through extensive research resulting in validation through publication in over
1,000 scientific journals, Roquefort Therapeutics has identified the potential
to exploit the broad therapeutic potential of Midkine for a number of clinical
indications of unmet needs. Roquefort Therapeutics holds an exclusive licence
to the largest global IP portfolio on Midkine. The Midkine blocking drug
development markets have significant global market potential (in the
multi-billion dollars). Roquefort Therapeutic's pre-clinical program is
currently underway with an initial focus on cancer.

 

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