Ryvu Therapeutics Signs a Grant Agreement for the Development of Targeted Immuno-oncology Therapy
Krakow, Poland, June 5, 2020 /PRNewswire/ -- Ryvu Therapeutics (WSE: RVU), a clinical-stage biopharmaceutical company developing novel small molecule therapies that address emerging targets in oncology, has signed a grant agreement with the National Centre for Research and Development for the development of targeted immuno-oncology therapy.
This grant provides Ryvu with almost USD 5.6 million of non-dilutive financing to discover, develop and select a clinical candidate targeting cancers which had been considered in the past as largely undruggable using rational approaches. Total net value of the project amounts to over USD 8.9 million and the anticipated project duration is until December 2023.
The aim of the project is development of a novel drug candidate, characterized in Phase I clinical study. The selected candidate should overcome the limitations of current immunotherapies, allowing effective and safe treatment options for patients with aggressive, refractory tumors. As a result of the conducted research, a small molecule immunomodulator of the patient's response against own cancer cells, serving as a strictly personalized therapy, will be identified.
The project is already in progress and the analysis of publicly available and commercial databases has confirmed that currently most advanced, compounds developed by Ryvu in this project, have the potential to become first-in-class medicines.
"Immuno-oncology has undeniably revolutionized the approach to cancer treatment. Immunotherapies offer a new chance to create an effective therapy for patients with aggressive, treatment-resistant cancers. With the financial support of the National Centre for Research and Development we can continue our research in the immune-oncology area at a full speed," commented Krzysztof Brzozka, PhD, Chief Scientific Officer and Executive VP at Ryvu Therapeutics.
About Ryvu Therapeutics
Ryvu Therapeutics is a clinical stage biopharmaceutical company developing novel small molecule therapies that address emerging targets in oncology. Pipeline candidates make use of diverse therapeutic mechanisms driven by emerging knowledge of cancer biology, including small molecules directed at kinase, synthetic lethality, immuno-oncology and cancer metabolism targets. SEL120 is a selective CDK8 kinase inhibitor with potential for the treatment of hematological malignancies and solid tumors currently in Phase I clinical development for the treatment of acute myeloid leukemia and myelodysplastic syndrome. SEL24/MEN1703 is a dual PIM/FLT3 kinase inhibitor licensed to the Menarini Group in Phase 2 clinical studies for the treatment of acute myeloid leukemia. For more information, please see www.ryvu.com.
SOURCE Ryvu Therapeutics
Company Codes: Warsaw:RVU