SalvaRx the latest cancer drug firm seeking AIM admission

London’s AIM could soon see another biotechnology company among its constituents, with the announcement on Monday that SalvaRx was seeking admission to trading following the reverse takeover of 3Legs Resources.

SalvaRx, through its ownership of iOx Therapeutics, said it was currently developing a series of compounds, with the lead compound already funded through to the end of phase II development via a collaboration agreement with the University of Oxford.

It said the technology was discovered at the university in conjunction with the Ludwig Institute for Cancer Research.

SalvaRx said its strategy as a traded company would be to acquire, invest in and operate a portfolio of companies involved in the cancer immunotherapy market.

"The listing of SalvaRx on AIM is the next step in growing our business, helping us as we seek to assemble a diverse portfolio of immunotherapy assets,” said CEO Ian Walters.

He said the company’s strategy allowed its funds to be used directly in developing compounts to a value inflection point, whilst also building a wider pipeline through select acquisitions.

“It is low cost and flexible, but still gives us access when needed to a significant pool of talent that is at the forefront of developing immune-oncological therapies,” Walters explained.

“It is only through truly collaborative efforts such as iOx that we will be able effectively to better the lives of people through suitable therapeutic alternatives to traditional cancer medication."