Roquefort Therapeutics PLC (LSE:ROQ, OTCQB:ROQAF) chairman Stephen West has highlighted the company's significant progress, including a successful fundraise and the acquisition of Oncogeni, in a statement to be delivered at today's annual general meeting (AGM).
In the AGM statement, West said: "The acquisition of Oncogeni has provided us with numerous opportunities for success. We have signed partnership agreements with leading academic cancer research institutions, establishing a solid foundation to create value through our strategic approach."
The company's positive momentum continued into 2023 with advancements in the in-house development of a novel mRNA cancer medicine platform. Roquefort Therapeutics also secured a strategic licence agreement with Randox Laboratories, allowing them to utilise Midkine antibodies in medical diagnostics. This partnership will result in significant time and cost advantages for clinical trials, West noted.
West highlighted the promising progress across the company's preclinical portfolio, citing encouraging in vivo pre-clinical data for their Midkine antibody program targeting metastatic osteosarcoma. Additionally, their anti-cancer Midkine RNA oligonucleotide program demonstrated over 90% in vitro efficacy in liver and neuroblastoma cancer cells. Both programs are set to progress into in vivo studies by the end of the year.
Roquefort Therapeutics also achieved positive in vitro results with their anti-cancer mRNA therapeutic in breast and liver cancer, showing a statistically significant reduction in cancer growth and migration. The company has further strengthened its leadership position in the Midkine field by updating its filed patents to protect mRNA compositions and methods. In-vivo studies for the Midkine mRNA program are underway at their laboratory in Stratford-upon-Avon.
West emphasized the company's strategy to discover and develop first-in-class cancer medicines in the rapidly growing oncology market, which is projected to exceed US$353.5bn by 2030.
Roquefort Therapeutics focuses on cancers that are resistant to current treatments, such as breast, colon and liver cancer, where patient survival rates remain low. By targeting novel cancer targets, Midkine and STAT-6, the company has demonstrated reductions in cancer growth and metastasis in in-vivo studies, highlighting the potential for first-in-class cancer medicines.
West concluded by saying: "All of our programs have achieved key R&D milestones on time and within budget. The progress made across our programs is highly encouraging and aligned with our strategy. We look forward to updating shareholders on our pre-clinical and business development activities in the future."