BiVictriX Therapeutics PLC (AIM:BVX, OTC:BVTXF) has confirmed it will be ready to nominate a lead candidate from its BVX001 drug programme in the fourth quarter of this year.
BVX001 is being developed to treat acute myeloid leukaemia and other blood cancers.
In an update, the company said it invested "additional time and resources" on the programme, working closely with regulatory advisors to "actively create" a clear path to investigational new drug status.
"We remain focused on developing our lead asset, BVX001, and are making great progress,” said chief executive Tiffany Thorn.
Enhanced pipeline
In the same announcement, investors were told two further cancer assets have been added to the early-stage pipeline - BVX002 and BVX003.
Financially, BiVictriX "has a strong cash position and sufficient cash to execute its current strategy", the market learned.
It added that it continued to assess "suitable non-dilutive funding opportunities".
To support its efforts in the lab, the group said it had added to its scientific staff.
Novel approach
The company’s Bi-Cygni treatments target cancer by looking for specific patterns on the surface of a cell, rather than a single cancer identifier. Put simply, it looks for the fingerprints for certain cancers.
The benefits, though yet to be fully proven at this early stage in the process, should deliver what the experts call a “highly selective” approach to tackling the illness.
What does that mean in practice? Well, all things being equal it should allow doctors to safely administer higher drug doses more effectively without the nasty, life-threatening side effects.