SalvaRX sees 'substantial progress' as investees score patent protection

Drug development company SalvaRX Group offered a business update on Thursday, confirming significant progress for investees iOx Therapeutics and Intensity Therapeutics.

iOsx Therapeutics, in which SalvaRX Group holds a 57% interest through its 94% owned subsidiary SalvaRX Ltd, has been granted US and EU patents for its iNKT agonist and hopes to conduct human trials in the near future.

Furthermore, the company’s probiotic IMM60 capsule is poised to enter the clinic this year in a collaborative study supported by Oxford University.

Meanwhile, Intensity Therapeutics, in which SalvaRX Ltd has an 8.5% interest, has been granted US patent protection for the use of novel cell penetration enhancers with anti-cancer therapies.

Ian Walters, chief executive of SalvaRX, said: "We have seen substantial progress across the portfolio and now are beginning to evolve into a clinical stage company with multiple assets expected in the clinic by the end of the year. The appetite for early stage immuno-oncology assets is still strong with recent record-breaking deals showing significant premiums (in February Bristol Myers Squibb acquired 35% of Nektar's compound NKTR-214 for $1.8billion upfront with additional milestones)."

Aside from Intensity and iOsx, SalvaRX group also has interests in portfolio companies Nekonal, RIFT and Saugatuck Therapies which are engaged in exploring tumour specific immunity, with SalvaRX optimistic that they will nominate full development candidates shortly.

"Analysts also predict that recent tax reform in the US will stimulate additional mergers and acquisitions in this area. SalvaRx is well poised to deliver a series of novel first in class products which can augment the pipelines in big pharma," said Walters.

As of 1456 GMT, SalvaRX Group’s shares were up 0.69% at 19.00p.