Krakow, Poland – February 26, 2020 – Ryvu Therapeutics (WSE:RVU), a clinical-stage biopharmaceutical company developing novel small molecule therapies that address emerging targets in oncology, has signed a grant agreement with the National Centre for Research and Development for the development of targeted oncology therapies based on the synthetic lethality concept. This grant provides Ryvu with almost USD 8.3 million of non-dilutive financing to discover, develop and select a clinical candidate targeting cancers which had been considered in the past as largely undruggable using rational approaches. Total net value of the project amounts to USD 14 million and the anticipated project duration is until December 2023.
Synthetic lethality approach allows identification of novel unanticipated protein targets, highly effective in a defined genetic context. Ryvu applied an innovative synthetic lethality workflow, including proprietary data analysis engine, for identification of targets in cancers driven by undruggable oncogenes.
We have identified novel synthetic lethal targets which are highly effective in the context of cancer- specific mutations. With the financial support of the National Centre for Research and Development we can continue our research at full speed – commented Krzysztof Brzozka, Chief Scientific Officer at Ryvu Therapeutics.