UK-based BiVictriX, an emerging biotechnology company involved in the development of next-generation cancer therapeutics has raised £7.5 million gross proceeds after floating on the London Stock Exchange, giving a market capitalisation of £13.2 million.
Eyes to accelerate growth
BiVictriX was advised by Manchester-based full-service law firm Slater Heelis on its Admission to the AIM market. The funds will enable BiVictriX to accelerate its growth strategy and expedite the development and delivery of its next-generation, highly selective cancer therapeutics.
Based at Alderley Park, BiVictriX applies contemporary techniques using insights derived from frontline clinical experience to develop safer, and more effective cancer therapies.
Founded by Tiffany Thorn in 2017, BiVictriX has developed a proprietary platform and the resulting Bi-Cygni therapeutics are uniquely selective for the specific cancers, potentially enabling higher dosing and more aggressive tumour eradication, while reducing life-threatening treatment-related side effects.
Rhian Owen, firm partner at Slater Heelis who led the transaction team, said: “BiVictriX is an exciting company developing novel treatments. We’ve been delighted to assist BiVictriX through its funding rounds over the last few years, guiding the company through its initial growth phases to its Admission to the AIM market.”
Simon Wallwork Head of Corporate at the firm said: “Slater Heelis’ corporate department has vast experience in helping dynamic, early-stage biotech companies throughout all stages of their development, and I’m proud that we’ve been able to leverage our expertise and deep sector knowledge to support BiVictriX to reach this major milestone and attract funding to enable it to take its technology through the next stages of development.”
Tiffany Thorn, Chief Executive Officer and Founder of BiVictriX Therapeutics plc, said: “The listing on London’s AIM market is a major milestone for BiVictriX. Our vision is to revolutionise cancer therapy for the most difficult to treat cancers, making curative treatments available to all. The funds raised will help us to accelerate our growth and expedite the development and delivery of our pioneering, highly selective cancer therapeutics to patients diagnosed with some of the most challenging cancers and supporting patients who are currently in urgent need of more effective medicines.”