Roquefort Therapeutics PLC (LSE:ROQ) aims to have one of its anti-cancer pre-clinical assets clinic ready by the second half of next year following the group’s “pivot towards a material oncology business”.
In its interim results for the six months to 30 June 2022, the biotech company said it is “rare for a company of our size and valuation to have four substantial anti-cancer pre-clinical assets, and we have the potential to drive significant value from our oncology programs”.
Oncogeni, which it acquired for £5.5mln post-period end, has been key in transitioning Roquefort into a material oncology biotech company.
According to its earnings statement, the group continued its collaborative work with Murdoch University in Western Australia to design and test a novel series of gene silencing reagents, antisense oligonucleotides, targeting Midkine, a protein within humans that promotes growth.
Other highlights, according to Roquefort, include a patent filed for Midkine following positive pre-clinical in vitro trials, “significantly strengthening” the board with two non-executive director appointments, and the listing of its shares in the US on the OTCQB Venture Market.
The group reported a first-half net loss of £762,281, albeit the cash position was positive, and stood at £3.3mln.