BiVictriX Therapeutics is a UK based drug development company which was incorporated in February 2016 and has developed its proprietary Bi-Cygni® technology. This technology utilises Antibody Drug Conjugates (“ADC”s), an existing class of potent biological drugs, for the treatment of various cancers including Acute Myeloid Leukaemia, the first condition which BVX intends to treat.
BiVictriX Therapeutics has identified a unique, cancer-restricted antigen fingerprint, absent from healthy cells, which can be exploited to produce cancer selective therapeutics. The Bi-Cygni® technology has been developed to exploit this concept and expedite the development of bispecific therapeutics with an improved therapeutic index. Based on BVX’s work to date, these ADCs demonstrate superior potency and tumour selectivity compared to conventional ADCs. The main country of operation is in the UK.
Admission to Trading on AIM
On 11th August 2021, admission and dealings commenced by way of a Placing and Subscription of 37,500,000 Ordinary Shares at 20 pence per Ordinary Share and Admission of the Enlarged Issued Share Capital to trading on AIM.
Reasons for Admission and use of proceeds of the fundraise
The Directors believe that Admission will be an important step in the Group’s development as it will assist the Group in building the profile of its business, specifically in relation to its lead programme BVX001, and will provide access to wider pools of capital.
The Company will receive approximately £6.67 million of net proceeds from the Fundraise (after deducting Expenses) which are expected to be used as follows:
- accelerate the lead optimisation of BVX001 to reach key preclinical milestones on efficacy and safety;
- expand BiVictriX’s early-stage pipeline to include two additional candidates with preclinical proof of concept;
- grow BiVictriX’s intellectual property portfolio to add further protection around the lead programme and additional pipeline; and
- expand BiVictriX’s scientific capabilities to provide potential avenues for platform intellectual property generation and defensibility of BiVictriX’s approach.
The benefits of Admission, in addition to the proceeds of the Fundraise, will include building the profile of the Group both in the UK and internationally as it seeks to develop its work programmes towards commercialisation.
The Perivan shareholder communications team were delighted to work SP Angel Corporate Finance LLP who were appointed as Nominated Adviser and Broker to BiVictriX , on the successful publication of the 132-page admission document.
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