BiVictriX Therapeutics PLC (AIM:BVX, OTC:BVTXF), which is developing next-generation anti-cancer precision antibody-drug conjugates, said it is focused on fast-tracking its lead asset, a potential new drug for acute myeloid leukaemia (AML).
Its efforts will include partnerships with "a primary focus on the acceleration of BVX001 into clinical trials".
The update came alongside the company's interim results, which revealed the company has made significant strides in the first six months of 2023.
Key highlights include the nomination of a clinical candidate for its lead BVX001 programme based on promising in vivo efficacy and toxicity data in three preclinical models of AML.
The data also favourably compared BVX001 to the clinical comparator Mylotarg. Further pre-investigational new drug (IND) studies are currently underway.
BiVictriX said it has also made headway in its BVX002 and BVX003 programmes, aimed at expanding its therapeutic pipeline and evaluating its approach in targeting multiple solid tumour indications.
Concurrently, the Bi-Cygni platform has been further developed, opening avenues for commercial partnerships.
Financially, BiVictriX reported cash and cash equivalents of £1.9 million as of the end of June. Additionally, a successful placing raised £2.1 million from both existing and new investors.
It posted an operating loss of £1.39 million for the period, which is to be expected of a company investing heavily in research and development.
Looking ahead, chief executive Tiffany Thorn said: "Over the next period and beyond, I remain fully committed to our business goals, including identifying opportunities to accelerate company growth through partnerships, and I look forward to achieving key value-enhancing milestones, with a primary focus on the acceleration of BVX001 into clinical trials for AML."
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