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Beskrivning

LandNorge
ListaEuronext Growth Oslo
SektorHälsovård
IndustriBioteknik
Lytix Biopharma är ett bioteknikbolag i kliniskt stadium som utvecklar nya cancerimmunterapier. Bolagets teknik bygger på forskning inom antimikrobiella peptider, ett försvar riktade mot patogener. Lytix Biopharmas huvudprodukt, LTX-315, är en onkolytisk peptid med syftet att personalisera immunterapi. Bolaget bedriver sin forskning och verksamhet i Oslo, Norge.
2021-11-18 15:35:34
Oslo, Norway, November 18, 2021 - Lytix Biopharma AS ("Lytix" or the "Company"),
a clinical-stage company with an in situ vaccination technology platform,
announces that the U.S. Food and Drug Administration (FDA) has accepted Verrica
Pharmaceutical Inc's ("Verrica") (NASDAQ: VRCA) Investigational New Drug
Application ("IND") for LTX-315 for the treatment of basal cell carcinoma.
LTX-315 a first-in-class oncolytic molecule representing a new and superior in
situ therapeutic vaccination principle to boost anti-cancer immunity.

"We are excited to bring this novel immunotherapy to the clinic as a potential
new non-surgical treatment for skin cancer," said Ted White, Verrica's President
and Chief Executive Officer. "LTX-315, a non-surgical immunotherapy that targets
cancerous skin cells, is a remarkably innovative approach to skin cancer and
represents a new treatment paradigm beyond invasive surgery. "

Verrica is a dermatology therapeutics company developing medications for skin
diseases requiring medical interventions. In august 2020, Lytix licensed its
lead candidate LTX-315 to Verrica, for the treatment of dermatologic oncology
indications. Verrica intends to focus initially on basal and squamous cell
carcinomas as the lead indications for development of LTX-315. The American
Cancer Society has estimated that about 5.4 million basal cell carcinoma (BCC)
and squamous cell carcinomas are diagnosed in the US annually. With about 80% of
these skin cancers being BCC there is a significant need for new treatment
options.

Verrica expects to initiate its Phase II trial of LTX-315 in basal cell
carcinoma in the first quarter of 2022.
"The collaboration with Verrica Pharmaceuticals constitutes an essential part of
our development program for LTX-315, and the FDA approval for the initiation of
Verrica's phase II study in basal cell carcinoma adds substantial value to our
development program as well. LTX-315 is intended for use in solid tumors
accessible for intratumoral injections, and the estimated timeline for the
further development program indicates that we will find LTX-315 in two separate
and independent phase II studies in the first quarter of 2022", CEO of Lytix,
Øystein Rekdal concludes.

Under the terms of the license agreement, Lytix is entitled to receive an
upfront payment, contingent regulatory milestones based on achievement of
specified development goals, and sales milestones, with aggregate payments of up
to $113.5 million, of which the upfront and the first regulatory milestone
payments totaling USD 2.5 million have been paid. In addition, Lytix is entitled
to receive tiered royalties based on worldwide annual sales. The agreed upon
royalty rates start in the low double digits and increase to the mid-teens.

For further information please contact:
Øystein Rekdal (CEO),
Telephone: +47 975 73 358
E-mail: Oystein.Rekdal@lytixbiopharma.com

Lytix in brief: Based in Oslo, Norway, Lytix Biopharma is a clinical stage
biotech company developing novel cancer immunotherapies, an area within cancer
therapy that is aimed at activating the patient's immune system to fight cancer.
The Company's technology is based on pioneering research in "host defense
peptides" - nature's first line of defense towards foreign pathogens. Lytix
Biopharma's lead product, LTX-315, is a first-in-class oncolytic molecule
representing a new and superior in situ therapeutic vaccination principle to
boost anti-cancer immunity, with the potential to be the ideal combination
partner with other types of immunotherapy. LTX-315 target cancer cells and
disintegrate their cell membranes, causing immunogenic cell death and release of
a patient's tumor specific antigens. This mode of action allows cytotoxic t
cells to recognize, infiltrate, and attack cancer cells.