BiVictriX Therapeutics PLC (AIM:BVX, OTC:BVTXF) has received a £370,000 grant from the government-backed Innovate UK agency to accelerate the development of its second therapeutic programme, BVX002, an antibody drug conjugate (ADC) targeting ovarian cancer.
This non-dilutive funding will allow the company to fast-track preclinical development of the programme, including studies and preparation for selecting a clinical lead candidate.
Dr Tiffany Thorn, CEO of BiVictriX, said: "The Innovate UK grant award is a crucial step forward for the development of BVX002 in a solid tumour setting of high unmet need, ovarian cancer.
"This non-dilutive funding will enable us to increase our activities significantly as we move towards the clinic with this programme.
"We are delighted to be working with Innovate UK, the UK's innovation agency which funds research collaborations to accelerate innovation and drive investment into research and development. The organisation is renowned for its mission to drive innovation and growth in the UK's most promising sectors."
The 18-month project will focus on two primary objectives: selecting the optimal linker/payload and therapeutic format combination and assessing in vivo efficacy, selectivity, and safety.
BiVictriX's approach to developing bispecific ADCs, branded as Bi-Cygni ADCs, aims to create next-generation cancer therapeutics with heightened selectivity and reduced side effects.