Valerio Therapeutics Reports its Half-Year 2023 Financial Results and Provides an Update on its Activities
- New identity unveiled, with the aim at developing innovative therapies against cancer
- R&D efforts maintained for VIO-01 (formerly OX425) and AsiDNATM
- Optimization of PlatONTM platform, targeting new assets in combination with DNA decoys
- Cash position of €16.8 million as of June 30, 2023, strengthened by a €12 million capital increase
- Financial visibility assured until Q2 2024
- Continue to evaluate opportunities for business partnerships
Paris (France), September 28, 2023 – 8:00 p.m. CEST – Valerio Therapeutics S.A. (Euronext Growth Paris: ALVIO), hereafter “Valerio Therapeutics” or the “Company”, a clinical-stage biotechnology company specializing in the development of innovative drugs targeting tumor DNA Damage Response (DDR), today reports its consolidated half-year financial results to June 30, 2023, and provides an update on its activities.
Dr. Shefali Agarwal, President and CEO of Valerio Therapeutics, said: “The first half of 2023 was an important phase for our Company. By renaming ourselves Valerio Therapeutics, we highlighted our will to use innovative technologies such as DNA decoys to advance new anti-cancer treatments.
AsiDNATM, our first-in-class drug candidate, is currently being evaluated in an ongoing 1b/2 trial in the United State. This study is in combination with Olaparib in recurrent ovarian, breast and metastatic castration-resistant prostate cancer and the objective is to assess the safety and tolerability of the combination as well as to determine the recommended Phase 2 dose. Patient recruitment is progressing, and Top-line results are expected this year.
In parallel, AsiDNATM has also continued to be evaluated in two additional studies in collaboration with French academic research centers, the first one by Gustave Roussy to combat PARP inhibitor resistance in second-line maintenance treatment of recurrent ovarian cancer, and the second one by the Institut Curie in combination with radiotherapy in recurrent high-grade glioma in children.
Finally, our R&D efforts have been focused on the optimization of our PlatONTM platform and the development new therapeutic agents in oncology and other therapeutic agents. We now have a lead candidate from the OX400 compound family, VIO-01 (formerly OX425), a pan DNA repair decoy. This product works by abrogating several DNA repair pathways, inducing a drug-driven synthetic lethality without the need of a combined treatment. This potentially is first of its kind product with a broad applicability and thus represents a promising drug candidate to move forward to clinical development. We continue to explore new therapeutic pathways with PlatONTM and think that PROTACs (PROteolysis-TArgeting Chimeras) technology and other tumor specific targeting options may be a novel class presenting several potential benefits when combined with our DNA decoy molecules.
By all these progresses, Valerio Therapeutics is well positioned to rapidly advance breakthrough therapeutic candidates through Phase 2 development and, eventually, to contribute to the treatment of cancer patients globally. Additionally, we are also continuing active evaluation of business partnerships that can be synergistic to our pipeline and the team.”