Krakow, Poland – July 22, 2020 – Ryvu Therapeutics [ticker: RVU], a clinical stage biopharmaceutical company developing novel small molecule therapies that address emerging targets in oncology, has successfully raised over USD 36 million (PLN 143 million) of new capital. Ryvu Therapeutics plans to allocate the acquired funds primarily to the SEL120 project, including the development of the compound in new therapeutic indications in the area of solid tumors (27%) and AML/MDS (9%) as well as to the development of its preclinical projects (20%) – two programs in the field of immuno-oncology: the A2A / A2B antagonist, and the STING agonist. The Company will also further develop its discovery phase programs in the area of synthetic lethality and immune-oncology (22%). The remaining amount (22%) will be allocated to finance Ryvu Therapeutics ongoing operations.
The Leukemia & Lymphoma Society is a proud partner of Selvita and is providing up to $3.25 million in co-funding over four years, through its Therapy Acceleration Program® (TAP), in order to complete SEL120 IND-enabling studies and a phase I trial in AML.