BiVictriX Therapeutics PLC (AIM:BVX, OTC:BVTXF) said it is looking at developing a new screening platform to support its cancer therapy development programmes.
Last month, the AIM-listed group added two more potential cancer therapies to its pipeline - BVX002 and BVX003 – to its portfolio, joining BVX001, a putative treatment for acute myeloid leukaemia.
In a statement with its full-year results, BiVictrix said the new platform would increase the speed from discovery to lead generation and reduce development time for the pipeline.
“Alongside this, the team are working externally with data-mining experts to interrogate large patient data sets,” said the statement.
For BVX001, the statement said: “We are looking to reach three key value inflection points on this candidate within the next 1-5 years, namely nominating a preclinical candidate, achieving IND approval and establishing early clinical proof of concept for the approach through an initial Phase I/II clinical trial.”
BiVictrix, which was listed in August, closed the year to December 2021 with cash of £6.1mln. Losses in the twelve months were £2.5mln (£509,000).
Tiffany Thorn, chief executive, added "It has been a period of significant advancement for the company and I am pleased to report strong value-creating progress in the past 12 months.
"Following our listing on AIM, we have continued to develop our lead programme, BVX001, expanded our therapeutic pipeline, grown our internal capabilities, added to our growing IP portfolio and built out our Board and leadership team.”