BRIEF—Ryvu inks 62.3 million-zloty financing deal

Poland’s oncology specialist Ryvu Therapeutics has signed an agreement with the Medical Research Agency (ABM) for the financing of a project involving the execution of the RIVER-81 study.

The aim of the project co-financed by ABM is to develop a new treatment strategy for acute myeloid leukemia (AML) through the execution of the RIVER-81 study – a Phase II, multicenter, open-label clinical trial evaluating the safety and efficacy of RVU120 in combination with venetoclax in patients with relapsed/refractory AML, who have failed prior therapy with venetoclax and a hypomethylating agent.

The total value of funding will amount up to approx. 62.3 million zloty ($15.6 million), with a total net project value of up to around 132.5 million zloty.

The RIVER-81 study is an important component of the Development Plans for 2022-2024. The initiation of the study is planned for the second half of 2023.

As part of the "pipeline-in-a-pill" strategy for RVU120 development, the RIVER-81 study plays a significant role in maximizing the potential value of the RVU120 program while also mitigating standard clinical development risks.

On the financial end, Ryvu is actively working to enhance the firm’s access to non-dilutive funding sources. Thanks in part to its agreement with the Medical Research Agency (ABM), it has successfully secured a budget that covers Ryvu’s capital needs until 2026, exceeding the firm’s initial expectations presented in Ryvu’s development plans for 2022-2024 last year.