REG - BiVictriX Therapcts. - Innovate UK Grant Award to Accelerate ADC Pipeline

Bivictrix TherapeuticsAnnouncement

06/06/2024 07:00

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RNS Number : 3160R  BiVictriX Therapeutics PLC  06 June 2024

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BIVICTRIX THERAPEUTICS PLC

("BiVictriX" or the "Company")

 

BiVictriX Announces Innovate UK Grant Award to Accelerate Solid Tumour
Targeting ADC Pipeline

 

·    Non-dilutive capital will enable the Company to expedite the
development of its second therapeutic programme, BVX002, a first-in-class
bispecific Antibody Drug Conjugate ("ADC") targeting ovarian cancer

 

Alderley Park, 6 June 2024 - BiVictriX Therapeutics plc (AIM: BVX), a drug
discovery and development company applying an innovative, proprietary approach
to develop a new class of highly selective, next generation cancer
therapeutics, bispecific antibody drug conjugates (Bi-Cygni® ADCs), which
exhibit superior potency, whilst eliminating treatment-related toxicities,
announces it has been awarded a grant for £0.37 million from Innovate UK
(https://www.ukri.org/councils/innovate-uk/) . The grant will facilitate
accelerating the preclinical development of BiVictriX's second pipeline
product, BVX002, a novel bispecific ADC targeting the treatment of ovarian
cancer.

 

In line with the Company's strategy to seek non-dilutive capital to progress
R&D, the Innovate UK grant will enable BiVictriX to accelerate its efforts
to further advance BVX002, including preclinical studies and preparation for
the selection of a clinical lead candidate. The funds will be used on R&D
activities to enhance the value of BVX002 and BiVictriX's expertise in the
solid tumour setting.

 

The Innovate UK research and development project (funded for 18 months) will
consist of two primary elements: selection of the optimal linker/payload and
therapeutic format combination, followed by assessment of in vivo efficacy,
selectivity and safety to move the best bispecific ADC molecules towards
nomination of a clinical lead candidate for BVX002.

 

Tiffany Thorn, BiVictriX's Founder and CEO commented: "The Innovate UK grant
award is a crucial step forward for the development of BVX002 in a solid
tumour setting of high unmet need, ovarian cancer. This non-dilutive funding
will enable us to increase our activities significantly as we move towards the
clinic with this programme. We are delighted to be working with Innovate UK,
the UK's innovation agency which funds research collaborations to accelerate
innovation and drive investment into research and development. The
organisation is renowned for its mission to drive innovation and growth in the
UK's most promising sectors."

 

Dr Eric Rowinsky, Advisor to BiVictriX for Solid Tumour Therapeutic
Approaches, commented: "I have been impressed with BiVictriX's unique approach
to ADCs, as well as its discovery capabilities.  BVX002 has distinct
advantages over other ADCs in its ability to preferentially target and deliver
a potent warhead to ovarian cancer without affecting normal tissues,
potentially conferring a very favourable therapeutic index. This grant will
support and expedite the advancement of BVX002 in ovarian cancer, which is an
unmet medical need."

 

For more information on Innovate UK visit: www.ukri.org/councils/innovate-uk/
(https://www.globenewswire.com/Tracker?data=JX66n_XBtU-cMUflMztcbQ9VmxtzhhEBhonu0MJlCrybc9k0VmoCInjP59MOibO06TynG7H97EqWxfY6_KEn-fJ4wImD0Cev3jDTm15iYz_iC5wLL7I72fNNgo3GK-sRTO7w9phgiNdFAI2__xDqqg==)

 

 ENDS

 For more information, please contact:

BiVictriX Therapeutics plc
 Tiffany Thorn, Chief Executive Officer

 Michael Kauffman, Non-Executive Chairman                            Email: info@bivictrix.com (mailto:info@bivictrix.com)

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

 ICR Consilium
 Mary-Jane Elliott, Namrata Taak,                                    Tel: +44 (0) 20 3709 5700

 Max Bennett, Emmalee Hoppe                                          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 new class of highly
selective, next generation cancer therapeutics which exhibit superior potency,
whilst significantly reducing treatment-related toxicities.

 

The Company utilises a first-in-class approach to generate a proprietary
pipeline of Bi-Cygni® Antibody Drug Conjugate therapeutics which are designed
to selectively target cancer-specific antigen pairs, or "Bi-Cygni®
fingerprints", on tumour cells, which are largely absent from healthy cells.

 

BiVictriX has established a growing proprietary library of cancer-specific
Bi-Cygni® fingerprints, which enable the Company to target a diverse array of
different cancer types. The Company utilises these novel Bi-Cygni®
fingerprints, together with the Company's novel Antibody Drug Conjugate
therapeutic design, to develop more effective and safer therapeutics to target
cancers that are expected to constitute orphan indications and areas of high
unmet medical need.

 

Find out more about BiVictriX online at www.bivictrix.com
(http://www.bivictrix.com/)

 

 

 

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