Krakow, Poland – 1 October 2019 – Ryvu Therapeutics and Selvita today announced that the National Court Register of Poland (“KRS”) has recognized the corporate split of the Selvita parent company into two distinct organizations. The recognition by the court follows the Sept. 19, 2019, shareholder resolution to separate oncology therapeutics and contract research (CRO) business units.
Going forward, Ryvu Therapeutics and Selvita (CRO) will now operate independently with separate executive management teams as well as supervisory boards, in accordance with the shareholder resolution.
Public trading of Ryvu Therapeutics under the symbol RVU, separated from Selvita is expected to begin on or about 9th October, subject to approvals from the National Depository for Securities (“KDPW”) and the Warsaw Stock Exchange (“GPW”).
Until this time, the value of the two independent companies will be reflected in under the current listing of Selvita on the Warsaw Stock exchange.
Public listing of the contract research organization Selvita (CRO) under the symbol SLV is also expected on or about 16th October.
About Ryvu Therapeutics
Ryvu Therapeutics is a clinical stage biopharmaceutical company developing novel small molecule therapies that address emerging targets in oncology. Pipeline candidates make use of diverse therapeutic mechanisms driven by emerging knowledge of cancer biology, including small molecules directed at kinase, synthetic lethality, immuno-oncology and cancer metabolism targets. SEL120 is a selective CDK8 kinase inhibitor with potential for the treatment of hematological malignancies and solid tumors currently in clinical development for the treatment of acute myeloid leukemia and myelodysplastic syndrome. SEL24/MEN1703 is a dual PIM/FLT3 kinase inhibitor licensed to the Menarini Group in clinical development for the treatment of acute myeloid leukemia.
For more information, please see www.ryvu.com.
Selvita is an integrated service company providing multidisciplinary support in resolving the unique challenges of research within area of drug discovery, regulatory studies, as well as research and development. The company was established in 2007 and currently employs almost 450 scientists. Selvita is headquartered in Krakow, Poland, with a second research site in Poznan, Poland and foreign offices located in Cambridge, MA and San Francisco Bay Area, in the US, as well as in Cambridge, UK.
The company provides integrated drug discovery support from hit identification, through lead selection, lead optimization, and nomination of a preclinical candidate. On top of that, Selvita provides world-class pharma services in the field of drug testing and bioanalytical analyses, offering services at every stage of the drug discovery process, from development and validation of methods, stability studies, to routine quality control testing. Significant portion of Selvita business is also dedicated to a broad range of chemistry research and development activities, particularly for the pharma and agrochemical companies. Selvita laboratories are both GLP and GMP certified. Selvita is a major shareholder in Ardigen, a provider of precision medicine and artificial intelligence services.
More information at: www.selvita.com
This release may contain forward-looking statements. Such forward-looking statements are not guarantees of future results. These forward-looking statements speak only as of the date of publication of this document. Both Selvita and Ryvu Therapeutics expressly disclaim any obligation to update any forward-looking statements in this document, unless specifically required by law or regulation.
Ryvu Therapeutics Contacts:
Julia Balanova (investors)
+1 646 378 2936
Rich Allan (media)
+1 646 378 2958
Piotr Ksiazek (investors and media)
+48 501 988 693
Natalia Baranowska (corporate)
+48 784 069 418