BiVictriX Therapeutics PLC (AIM:BVX, OTC:BVTXF) has said it is focused on three value creation points for its lead asset BVX001, which is being developed to treat acute myeloid leukaemia.
In working towards these goals it believes it will attract the attention of potential partners for what could eventually be a blockbuster treatment.
It also reckons this work will provide validation for its Bi-Cygni platform, which aims to develop targeted cancer drugs with fewer side effects.
The three key milestones are: nominating a clinical candidate, locking down investigational new drug status (a prelude to a clinical trial) and providing proof of concept via a phase I/II study.
The company thinks achieving the first of those goals should be enough to pique interest from the wider life science industry.
“As we draw closer to reaching key value inflexion points during 2023, our focus will be on increasing the visibility of the company and showcasing our clear value proposition to potential third-party collaborators,” said chief executive Tiffany Thorn.
The update was provided alongside the company’s full-year results. Unsurprisingly, the company was loss-making to the tune of £2.5mln in the 12 months that ended December 31, 2022. A total of £2.1mln was ploughed into research and development.
More importantly, it ended the year in a solid financial position with £3.3mln in the bank.