Development Bank of Wales supports BiVictriX Therapeutics’ IPO on AIM
BiVictriX Therapeutics, an emerging biotechnology company applying a novel approach to develop next-generation cancer therapies using insights derived from frontline clinical experience, has announced its intention to list on the AIM market of the London Stock Exchange/ BiVictriX is proposing to raise £7.5m by way of a placing and subscription of new ordinary shares as part of its initial public offering (IPO).
BiVictriX’s pioneering ‘precision’ approach to cancer treatment has the potential to deliver a broad pipeline of proprietary, first-in-class Bi-Cygni® therapeutics to enable potentially higher dosing and more aggressive tumour eradication in patients, without causing harmful side effects.
Through access to state-of-the-art techniques at their St Asaph’s laboratory facility, BiVictriX has identified a diverse library of cancer-specific antigen fingerprints that can be used for the treatment of a wide range of cancer indications. BiVictriX’s lead candidate, BVX001, is designed to deliver a game-changing therapeutic approach to patients with Acute Myeloid Leukaemia (AML).
As a component of the IPO, Iain Ross will join the board as Chair, together with experienced non-executive directors Susan Lowther and Drummond Paris. Professor Bob Hawkins, a world-renowned oncologist and biotech innovator completes the board and will add significant scientific support. Existing lead investor, the Development Bank of Wales, will make an additional £500,000 share purchase and remain the largest shareholder of the company.
With BiVictriX’s listing on AIM, 33-year-old CEO Tiffany Thorn will become one of the youngest female CEOs of a UK-based publicly listed technology firm.
CEO and Founder of BiVictriX, Tiffany Thorn, said: “This is an exciting step for all of us at BiVictriX. This fundraise will allow us to accelerate our growth and expedite the development and delivery of our next-generation, highly selective cancer therapeutics to patients diagnosed with some of the most difficult-to-treat cancers, in urgent need of more effective therapies. We would like to take this opportunity to offer our sincere gratitude and thanks to all of our supportive investors, both old and new, for their help in enabling us to carry out this crucial work.”