On 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, reported an update on the Company’s recent activities (Press release, BiVictriX Therapeutics, JUL 11, 2022, View Source [SID1234626591]). 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.
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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 14th 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 20th 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."