Maiden full year results for the twelve months ended 31 December 2021
BiVictriX Therapeutics plc (AIM: BVX), an emerging biotechnology company applying a novel approach to develop next generation cancer therapies using insights derived from frontline clinical experience, today announces its maiden audited full year results for the twelve months ended 31 December 2021.
- Successful Initial Public Offering (“IPO”) on AIM raising £7.5million (gross).
- Collaborations progressed with leading academic centres and IONTAS Limited.
- Further strengthening of intellectual property portfolio.
- Highly experienced Board and senior management appointed.
Expansion of therapeutic pipeline with two new assets: BVX002 and BVX003
Corporate Highlights including post period end events
- Completed an IPO on AIM on 11 August 2021 (“Admission”).
- Successfully completed two antibody discovery campaigns with partner IONTAS Limited, in which novel antibody fragments that target BiVictriX’s proprietary “twin cancer antigens” were identified to further optimise the Company’s lead programme, BVX001.
- Established academic collaborations including the University of Liverpool and Swansea University, both of which build on the know-how in the Company’s novel Bi-Cygni® technology approach and intellectual property.
- Post period, the Company announced the expansion of its therapeutic pipeline with the addition of two assets entering the early stages of drug development: BVX002 and BVX003, demonstrating the broad utility of the Bi-Cygni® approach and potential expansion into novel areas in immuno-oncology.
- Expanded the Company’s in-house R&D capabilities by establishing fully functioning office and laboratory facilities to support the expedient development of its therapeutic pipeline.
- Continued to strengthen the Company’s growing patent portfolio in the UK and internationally with the filing of four new patents covering wholly-owned assets.
- Established an experienced Board of Directors, led by Chairman Iain Ross, and post period further strengthened its Board with the appointment of Dr Michael Kauffman as an additional Independent Non-Executive Director.
- Expanded the management team with the appointments of Dr Oliver Schon as VP of Product Development & CMC and Glyn Baker as Chief Financial Officer, appointed post period, to support development of key work programmes.
- Gross proceeds of £7.5 million in conjunction with the Admission.
- R&D investment of £0.711 million (FY 2020 £0.306 million).
- Cash and cash equivalents of £6.063 million at 31 December 2021 (FY 2020 £0.862million).
Tiffany Thorn, Chief Executive of BiVictriX Therapeutics plc, commented; “It has been a period of significant advancement for the Company and I am pleased to report strong value-creating progress in the past 12months. 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. Looking ahead, the Company is well positioned to continue to deliver against our objectives and create further value in 2022 and beyond.”