Client NewsRoquefort Therapeutics PLC – AGM Statement
Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market listed biotech company focused on developing first in class medicines in the high value and high growth oncology market, announces that at the Company’s Annual General Meeting, to be held at 9.00am today, Chairman Stephen West will make the following statement:
“As announced at the time of our year end results, 2022 saw Roquefort Therapeutics make significant progress, notably with the successful fundraise and completion of the acquisition of Oncogeni which pivoted the Company into a material oncology group. The acquisition significantly increased the Company’s pre-clinical portfolio, therefore providing multiple opportunities for success. With partnership agreements to develop the portfolio at leading academic cancer research institutions signed, the foundations were laid for the Company to create value through our strategy.
The excellent progress has continued into 2023 with the further advancement of the in-house development of a platform of novel mRNA cancer medicines and the signing of a strategic license agreement with Randox Laboratories to utilise Midkine antibodies in medical diagnostics, which will create significant time and cost advantages for clinical trials.
We have made positive strides across our preclinical portfolio in 2023 with our Midkine antibody program targeting metastatic osteosarcoma producing encouraging in vivo pre-clinical data, which falls under the orphan drug category and carries significant commercial incentives. Our anti-cancer Midkine RNA oligonucleotide program targeting Midkine expressing cancers produced >90% in vitro efficacy in human liver and neuroblastoma cancer cells and this program will now progress into in vivo studies which are planned to complete before the end of this year. Safety and efficacy has already been demonstrated in in vivo studies for the MK cell therapy in leukemia and lymphomas, and for the siRNA therapy in colon cancer. The MK cell therapy is progressing well in development and the siRNA therapy is completing experiments to finalise the mode of delivery.
Finally, we achieved positive in vitro results in our anti-cancer mRNA therapeutic in breast and liver cancer, where the studies demonstrated a statistically significant reduction in both cancer growth and migration. We have further consolidated our leadership position in the Midkine field by updating our filed patents to protect the mRNA compositions and methods. Our Midkine mRNA program is now progressing into in vivo studies at our laboratory in Stratford-upon-Avon.
The Company’s strategy is to discover and develop first-in-class cancer medicines within the highly attractive oncology market (forecast to surpass US$ 353.5 billion by 2030 at a CAGR of 8.4% in 2022-2030). Within this field, Roquefort Therapeutics focuses on the cancers that are resistant to current medicines including breast, colon and liver cancer, where patient survival rates remain poor. The Company’s programs focus on the novel cancer targets Midkine and STAT-6 both of which are associated with this poor survival,. By blocking Midkine and STAT-6, the Company has shown in in vivo studies, that both the cancer growth rate and metastasis are reduced, which are the characteristics of first-in-class cancer medicines.
All of our programs have met key R&D milestones on time and within budget and the progress made across all our programs is highly encouraging and in-keeping with our strategy. We look forward to updating shareholders on our pre-clinical and business development activities in due course.”
For a further update on the Company’s recent developments and anticipated key milestones, Roquefort Therapeutics is giving a presentation via the Investor Meet Company platform at 11am on Wednesday, 5 July 2023: https://www.investormeetcompany.com/roquefort-therapeutics-plc/register-investor
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