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BIVICTRIX THERAPEUTICS PLC

("BiVictriX" or the "Company")

BiVictriX Announces Innovate UK Grant Award to Accelerate Solid Tumour Targeting ADC Pipeline

·    Non-dilutive capital will enable the Company to expedite the development of its second therapeutic programme, BVX002, a first-in-class bispecific Antibody Drug Conjugate ("ADC") targeting ovarian cancer

Alderley Park, 6 June 2024 - BiVictriX Therapeutics plc (AIM: BVX), a drug discovery and development company applying an innovative, proprietary approach to develop a new class of highly selective, next generation cancer therapeutics, bispecific antibody drug conjugates (Bi-Cygni® ADCs), which exhibit superior potency, whilst eliminating treatment-related toxicities, announces it has been awarded a grant for £0.37 million from Innovate UK. The grant will facilitate accelerating the preclinical development of BiVictriX's second pipeline product, BVX002, a novel bispecific ADC targeting the treatment of ovarian cancer.

In line with the Company's strategy to seek non-dilutive capital to progress R&D, the Innovate UK grant will enable BiVictriX to accelerate its efforts to further advance BVX002, including preclinical studies and preparation for the selection of a clinical lead candidate. The funds will be used on R&D activities to enhance the value of BVX002 and BiVictriX's expertise in the solid tumour setting.

The Innovate UK research and development project (funded for 18 months) will consist of two primary elements: selection of the optimal linker/payload and therapeutic format combination, followed by assessment of in vivo efficacy, selectivity and safety to move the best bispecific ADC molecules towards nomination of a clinical lead candidate for BVX002.

Tiffany Thorn, BiVictriX's Founder and CEO commented: "The Innovate UK grant award is a crucial step forward for the development of BVX002 in a solid tumour setting of high unmet need, ovarian cancer. This non-dilutive funding will enable us to increase our activities significantly as we move towards the clinic with this programme. We are delighted to be working with Innovate UK, the UK's innovation agency which funds research collaborations to accelerate innovation and drive investment into research and development. The organisation is renowned for its mission to drive innovation and growth in the UK's most promising sectors."

Dr Eric Rowinsky, Advisor to BiVictriX for Solid Tumour Therapeutic Approaches, commented: "I have been impressed with BiVictriX's unique approach to ADCs, as well as its discovery capabilities.  BVX002 has distinct advantages over other ADCs in its ability to preferentially target and deliver a potent warhead to ovarian cancer without affecting normal tissues, potentially conferring a very favourable therapeutic index. This grant will support and expedite the advancement of BVX002 in ovarian cancer, which is an unmet medical need."

For more information on Innovate UK visit: www.ukri.org/councils/innovate-uk/

About BiVictriX Therapeutics plc

BiVictriX is a UK-based drug discovery and development company which is focused on leveraging clinical experience to develop a new class of highly selective, next generation cancer therapeutics which exhibit superior potency, whilst significantly reducing treatment-related toxicities.

The Company utilises a first-in-class approach to generate a proprietary pipeline of Bi-Cygni® Antibody Drug Conjugate therapeutics which are designed to selectively target cancer-specific antigen pairs, or "Bi-Cygni® fingerprints", on tumour cells, which are largely absent from healthy cells.

BiVictriX has established a growing proprietary library of cancer-specific Bi-Cygni® fingerprints, which enable the Company to target a diverse array of different cancer types. The Company utilises these novel Bi-Cygni® fingerprints, together with the Company's novel Antibody Drug Conjugate therapeutic design, to develop more effective and safer therapeutics to target cancers that are expected to constitute orphan indications and areas of high unmet medical need.

Find out more about BiVictriX online at www.bivictrix.com