Roquefort Therapeutics PLC (LSE:ROQ, OTCQB:ROQAF) said it made significant advancements in its pre-clinical drug development programmes as it updated on potential commercial tie-ups.
On the latter point, the drug developer told investors it is in discussions with several potential partners, including major pharmaceutical companies and a specialised private equity fund.
"A further announcement will be made should a binding agreement be entered into with one or more partners," Roquefort said in a market update.
Turning to its progress in the lab, the life sciences group said it made progress in its research on MK cells combined with natural killer (NK) cells, demonstrating a potent cancer-killing effect across various cancer types, including solid tumours, lymphoma, and leukemia, in validated in vivo models.
Recent studies have further shown that MK cells enhance the anti-cancer effects of NK cells in leukemia, underscoring the potential of NK cell activation as a promising new area with high commercial prospects. This field has already seen substantial interest and investment from large pharmaceutical companies in recent years.
Additionally, Roquefort Therapeutics has been conducting studies on Midkine RNA oligonucleotide and STAT-6 siRNA using a proprietary lipid nanoparticle (LNP) delivery system.
Preliminary results indicate successful encapsulation and biological activity in liver cancer models, with more detailed outcomes expected by the end of the first quarter of 2024.
In the update, Roquefort said milestone payments from its tie-up with Randox are expected throughout 2024, with royalties projected to commence in 2025.
"We are pleased with the progress our Midkine diagnostics licensing agreement with Randox is making and the IVD tests not only validate Midkine as a target, but it will also help accelerate our Midkine portfolio in the clinic, further adding to its commercial appeal," said CEO Ajan Reginald.
"We are delivering on our strategy to select and acquire novel science and to precisely develop this into commercially valuable medicines.
"We are developing first in class medicines, which given the patent cliff faced by big pharma, are some of the most valuable assets in the biopharmaceutical space.
"The company remains in discussions with multiple potential partners and looks forward to updating shareholders as to our progress in due course."