Ryvu Therapeutics - Successful Phase I with SEL24/MEN1703
In March 2020, Ryvu announced its partner Menarini Group (via subsidiary Berlin-Chemie) has successfully completed the dose-escalation part (Phase I) of the ongoing Phase I/II study with SEL24/MEN1703, a dual PIM/FLT3 kinase inhibitor in a Phase I/II trial for acute myeloid leukaemia (AML). The recommended dose for the Phase II part of the study (cohort expansion) has been established. Ryvu is a pure biotech, so the ongoing turbulence in the global markets has a limited effect on the outlook of the company in our view. Moreover, Ryvu is financed until 2021, which positions it well to weather the volatility. Our valuation is unchanged at PLN1.08bn or PLN67.4/share.Ryvu Therapeutics SA, formerly known as Selvita SA, is a Poland-based company engaged in the healthcare industry. The Company is active in the pharmaceutical and biotechnology fields. It operates through two business segments. The Innovative segment develops new drugs mainly for oncology and central nervous system diseases. The Services segment is engaged in the research and development activities, such as introducing substances on the market, client service and reducing the risk. The Company's portfolio encompasses projects, including kinesis inhibitors platform, the platform of the metabolism for the cancer and epigenetic, among others. Ryvu Therapeutics SA is active in the domestic market and internationally, such as in the United States. It operates through unit Ardigen SA and SORS Holdings Ltd.
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