TIDMSALV
RNS Number : 7311H
SalvaRx Group plc
22 August 2016
DRAFT Press Release 22 August 2016
SalvaRx Group plc
("SalvaRx" or the "Company")
Drug Pipeline Progress including Patent Grants
SalvaRx (LON: SALV), a biotechnology company focused on
immunotherapy for cancer, today announces a business update as at
22 August 2016.
The Company continues to make progress across all aspects of its
business, with several therapies expected to enter the clinic in
the next calendar year, whilst the Company has also secured a
further licensing deal and patent approvals for its existing
assets. In addition, the management is continuing to investigate
opportunities to expand the portfolio of immunotherapy assets
further. Recent highlights include:
iOx Therapeutics
-- Granted a US patent covering IMM60 alone and in combination
-- Work initiated on IMM65 with Horizon 2020 EU consortium
-- Negotiation of an option to license an NY-ESO1 vaccine from
the Ludwig Institute for Cancer Research, which is being used in
combination with IMM60 in IMM65
-- Progression of IMM60 towards a human study to start next year
Intensity Therapeutics
-- Granted a US patent covering lead product, INT230-6
-- Closed previously announced series A funding round for $10 million
-- Announced two senior R&D leaders joining the board of directors
-- Preparing IND submission (US FDA) and CTA (Health Canada)
with a goal to start the first human study in due course
iOx Therapeutics ("iOx")
iOx, in which SalvaRx has a 60.5% interest, has recently been
granted a US patent covering IMM60, the first of the Company's
drugs to move towards in human trial. Under US Patent Number
9,365,496, IMM60 is covered as a standalone treatment, along with
additional uses in a co-formulation with a tumour vaccine or given
as a combination therapy alongside an immunomodulatory agent,
including PD-1 pathway inhibitors. PD-1 drugs were part of the new
vanguard of cancer therapies, allowing the human immune system to
fight cancer, instead of traditional chemical treatments. Bristol
Myers-Squibb's Opdivo and Yervoy and Merck's Keytruda have all
enjoyed global success.
iOx is also making progress with its second therapy, IMM65,
where work has begun as part of the international consortium. A
recent announcement by the EU stated that all pre-existing grants
including to UK companies will remain funded, meaning that the work
of Horizon 2020 is not impacted by the UK's EU Referendum result.
The renewed confidence that the EU's decision has brought will
allow SalvaRx to continue as part of the consortium, as it looks to
progress its multiple, fully funded Phase II trials.
SalvaRx has worked extensively with the Ludwig Institute for
Cancer Research ("Ludwig"), the global cancer research institute
that collaborated with Professor Cerundolo during his discovery of
iOx's iNKT agonists at the University of Oxford. As part of the EU
consortium work plan, Ludwig has provided its NY-ESO1 cancer
vaccine for co-formulation with IMM60 at no cost to the consortium.
Following recent negotiations with Ludwig, SalvaRx now has the
rights to use the same cancer vaccine on a commercial scale, if the
grant-funded clinical trial proves the efficacy of the new
combination product.
IMM60 continues to make good progress towards in-human trials,
and the Company is currently working on scaling the manufacturing
process required to allow the drug to enter the clinic, which iOx
believes will occur next year. iOx continues to work with the
University of Oxford on the parameters of the Company's initial
Phase I/II trial which is being fully funded by the University.
Intensity Therapeutics ("Intensity")
SalvaRx is pleased that Intensity, which is developing
proprietary cancer immunotherapy products, has recently been
granted a US patent covering its lead therapy, INT230-6 (US Patent
9,351,997). As announced on 22 April, 2016 SalvaRx invested $2
million in Intensity's Series A round of investment, which closed
at $10 million following strong demand, and included investors such
as Batterson Venture Capital, VCapital, and Fast Forward
Innovations. The Company's investment in Intensity now represents
8.5% of the issued share capital.
Intensity recently appointed Declan Doogan, MD, and Emer Leahy,
PhD to its Board of Directors. Doogan, previously Senior Vice
President and Head of Worldwide Drug Development at Pfizer and
Leahy, CEO of PsychoGenics, will bring significant R&D
expertise to Intensity's Board, as the Company advances its lead
compound into clinical trials. To facilitate this, Intensity has
been preparing its Investigational New Drug ("IND") filing for
INT230-6, and will submit it to the FDA and Health Canada in due
course.
Ian Walters, CEO of SalvaRx, said: "I am delighted with the
progress made across the Company thus far. On joining the market,
we stated that our strategy was to identify and invest, or acquire,
exciting businesses within the immuno-oncology space. With our
existing investments in iOx and Intensity, we can see a clear
progression towards clinical trials, improving the value of the
Company for its shareholders and bringing the Company closer to
having an impact on cancer. We look forward to the coming year,
where we intend to continue to progress on all fronts, be it
regulatory, clinical, or identifying potential target companies we
believe will be complementary to our existing therapy
portfolio."
-Ends-
SalvaRx Group plc
Ian Walters (Chief Executive) Tel: +1 203-441-5451
Northland Capital Partners Limited Tel: +44 (0) 20 3861 6625
Nominated Adviser and Broker
Matthew Johnson / Edward Hutton
(Corporate Finance)
John Howes / Abigail Wayne (Corporate
Broking)
Peterhouse Corporate Finance Limited Tel: +44 (0) 20 7469 0932
Joint Broker
Lucy Williams / Duncan Vasey
Media enquiries:
Abchurch Communications Limited
Alex Shaw / George Robinson / Tel: +44 (0) 20 7398 7712
Julian Bosdet
salvaRx@abchurch-group.com www.abchurch-group.com
Notes to Editors
SalvaRx
SalvaRx was founded in 2014 to develop therapies within the
rapidly growing immuno-oncology market, which uses treatments
designed to boost the body's natural defences to fight the
cancer.
Immuno-oncology therapy is a fast growing and new therapeutic
area, a market expected to grow to $80 billion worldwide by 2020
(Global & USA Cancer Immunotherapy Market Analysis 2020).
SalvaRx's strategy is to invest in a portfolio of companies
involved in novel cancer immunotherapies and develop them up to
clinical proof of concept. SalvaRx provides portfolio companies
with operational support in addition to capital, either by managing
its portfolio companies directly or augmenting an existing
team.
Though its investment in iOx, SalvaRx is developing, under
licence from the Ludwig Institute, a series of small molecules for
cancer immunotherapy. iOx has a clinical trial sponsorship
agreement with the University of Oxford to fund the first in human
Phase I/II clinical trial for its lead compound.
SalvaRx's management team have a proven track record of
discovering and commercialising drugs in the area of cancer
immunotherapy with Bristol-Myers Squibb and Johnson & Johnson.
The team is supported by an extended network of senior academic and
industry executives to promote commercial and scientific outcomes,
including licensing and partnering discussions. SalvaRx benefits
from an investment by Jim Mellon.
For more information please visit: www.salvarx.io
This information is provided by RNS
The company news service from the London Stock Exchange
END
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