Ryvu Therapeutics will spend PLN 535 million on the implementation of development plans

Ryvu Therapeutics presented development plans for 2022-2024, the budget for their implementation is PLN 535 million, the company said.

The total budget for the implementation of development plans for 2022-2024 is estimated at approx. PLN 535 million (USD 115 million), of which approx. PLN 297 million (USD 64 million) will be allocated to the clinical development of the company's projects (incl. The extensive clinical development of the RVU120, as well as the launch of a Phase I trial for one new candidate from the early pipeline portfolio, said the release.

Ryvu plans to spend approximately PLN 174 million (USD 37 million) on developing a portfolio of projects at an early stage of development (including further strengthening of the Synthetic Mortality Platform). In addition, the company intends to allocate approximately PLN 64 million (USD 14 million) to cover general and administrative costs.

The company informs that the implementation of the assumptions of the development plans will be financed from the company's cash (PLN 44.6 million, i.e. USD 9.6 million), debt financing from the European Investment Bank (PLN 104.3 million, i.e. EUR 22 million), and expected payments for achievement of milestones and granted subsidies (PLN 49.3 million, i.e. USD 10.6 million), assumed future subsidies (PLN 30 million, i.e. USD 6.5 million) as well as from other sources, including capital market financing, potential stones mileage from ongoing cooperation, new partnering agreements, additional subsidies and other sources (PLN 306.5 million USD 66.1 million).

“We plan to obtain capital for the development of the Ryvu project portfolio from various sources. Our goal is to sign at least one new partnering agreement a year. At the same time, we have developed several alternative, risk-reducing scenarios of portfolio investments, for example in the case of the extensive development of the RVU120 project - said president Paweł Przewięźlikowski, quoted in the release.

Ryvu Therapeutics was founded in 2007 (as Selvita). It is a Polish biotechnology company developing innovative small molecule compounds with therapeutic potential in oncology. Ryvu Therapeutics is listed on the main market of the Warsaw Stock Exchange.

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