Roquefort Therapeutics PLC Pre-clinical Program & Transaction Update (6021V)
August 11 2022 - 2:00AM
UK Regulatory
TIDMROQ
RNS Number : 6021V
Roquefort Therapeutics PLC
11 August 2022
11 August 2022
Roquefort Therapeutics plc
("Roquefort Therapeutics" or the "Company")
Pre-clinical Program & Transaction Update
Successful proof of principle for first-in-class drug
program
Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market
listed biotech company focused on early-stage opportunities in the
biotechnology sector, is pleased to provide an update on the
progress of its proprietary Midkine ("MDK") antisense
oligonucleotide* pre-clinical drug development program, on its
patent portfolio and on the Oncogeni transaction.
MDK Pre-clinical Drug Development Program
Since the announcement on 7 June 2022, where the Company
reported that its collaborative cancer research project with
Professor Steve Wilton and his colleagues at Murdoch University in
Perth, Australia had demonstrated >90% efficacy at the mRNA
level, the Company has been focused on in vitro experiments to test
and demonstrate the ability of the novel MDK oligonucleotide drugs
to reduce production of full length MDK in cancer cells. It is
important to reduce MDK because high MDK levels are prevalent in
many solid tumours and are associated with metastasis, poor
response to treatment and poor patient prognosis.
The in vitro experiments have been completed with the Company's
proprietary oligonucleotides successfully reducing high MDK levels
in cancer cells by generating a truncated form of the MDK protein.
The switch to the truncated MDK is consistent with the >90%
efficacy at the mRNA level previously reported. These positive
results demonstrate the pre-clinical proof of principle in cancer
for the antisense oligonucleotide drug development program and
underpin the Company's ability to progress to in vivo studies and
clinical trials in due course targeting MDK in cancer. These
results underpin the potential for first-in-class medicines
targeting the "hard to treat" cancers that express Midkine.
Patent Portfolio
The Company has recently updated its filed patent in Australia
and has also filed a UK patent to protect the composition of the
truncated MDK, mRNAs and antisense oligonucleotides, which further
consolidates the Company's leadership position in the MDK patent
field.
The Company will update the market on the progress of these key
programs in due course.
Oncogeni Transaction & Placing
Further to the announcement on 22 June 2022, the Company advises
that it is working on publishing a prospectus, completing the
acquisition of the entire issued capital of Oncogeni Limited
("Oncogeni") and completing the GBP1,015,000 placing as soon as
possible. In anticipation of completion of the acquisition, the
Company has commenced use of Oncogeni's state of the art laboratory
in Stratford-upon-Avon and is preparing to carry out an innovative
in-house program of research and development.
*antisense oligonucleotides are small pieces of DNA or RNA that
can bind to specific molecules of RNA. This blocks the ability of
the RNA to make a protein, or the RNA's ability to work in other
ways. Antisense oligonucleotides may be used to block the
production of proteins needed for cell growth. They are being
studied in the treatment of several types of cancer.
Stephen West, Executive Chairman, commented:
"These positive results demonstrate the pre-clinical proof of
principle in cancer for our innovative antisense oligonucleotide
drug development program and underpin the potential for a first
class medicine in the highly valuable solid tumour cancer market.
Following these results, the Company can progress towards in vivo,
and clinical studies.
"I am optimistic for Roquefort Therapeutics' future and look
forward to updating the market as to the progression of the
Oncogeni Transaction, as well as our exciting drug development
programs."
-Ends-
Enquiries:
Roquefort Therapeutics plc
+44 (0)20 3290
Stephen West (Chairman) 9339
Hybridan LLP (Joint Broker)
Claire Louise Noyce
Optiva Securities Limited (Joint +44 (0)203 764
Broker) 2341
+44 (0)20 3411
Christian Dennis 1881
Buchanan (Public Relations)
Ben Romney / Jamie Hooper / George +44 (0)20 7466
Beale 5000
For further information on Roquefort Therapeutics, please visit
www.roquefortplc.com and @RoquefortTherap on Twitter.
LEI: 254900P4SISIWOR9RH34
About Roquefort Therapeutics
Roquefort Therapeutics (LSE:ROQ) is a Main Market listed biotech
company developing products through the pre-clinical phase prior to
partnering or selling to big pharma. The Company is a pre-clinical
biotech company focused on developing first in class Midkine
targeting drugs for the treatment of cancer.
Through extensive research resulting in validation through
publication in over 1,000 scientific journals, Roquefort
Therapeutics has identified the potential to exploit the broad
therapeutic potential of Midkine for a number of clinical
indications of unmet needs. Roquefort Therapeutics holds an
exclusive licence to the largest global IP portfolio on Midkine.
The Midkine blocking drug development markets have significant
global market potential (in the multi-billion dollars). Roquefort
Therapeutic's pre-clinical program is currently underway with an
initial focus on cancer.
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