KRAKOW, Poland, June 2,
2020 /PRNewswire/ -- Ryvu Therapeutics (WSE: RVU),
a clinical-stage biopharmaceutical company developing novel small
molecule therapies that address emerging targets in oncology, has
obtained the occupancy permits for its newly built R&D Center
for Innovative Drugs, meaning it has completed the construction of
the facility. Construction of own R&D Centre constitutes an
element of execution of the strategic plans focused on the
discovery and development of innovative therapies announced in
2017.
By the end of June 2020, Ryvu
plans to move to the new headquarters, located at 2 Sternbach
Street, in Krakow, in a Special
Economic Zone which provides various tax incentives for the local
companies. The R&D Center for Innovative Drugs is situated in
close proximity to the Jagiellonian University as well as Solaris
Synchrotron Facility. The newly built Sternbach St. was named after
Dr. Leo Sternbach, a graduate of
Jagiellonian University who went on to discover Vallium, the most
prescribed drug in the history of the pharmaceutical industry. The
initiative to honor Dr. Sternbach, was spearheaded by Ryvu and
received strong support from Krakow scientific and technology
community.
At the heart of the new Ryvu facility is an array of
laboratories incl. medicinal chemistry, biochemistry, cell &
molecular biology and analytical chemistry. Its launch will allow
Ryvu to expand the pipeline and accelerate research process
of innovative drugs. The laboratory-office complex is made up of 6
floors with a total area of ca. 108,000 sq. ft., including over
86,000 sq. ft. usable area, which will accommodate:
- ca. 32,300 sq. ft. of laboratories
- ca. 10,700 sq. ft. of office space
- ca. 14,000 sq. ft. of social and technical space
- ca. 29,000 sq. ft. of remaining space such as parking lot and
corridors, etc.
The new building will accommodate up to approximately 300
employees. The total value of the investment including the purchase
of land, construction of the building and key laboratory equipment
amounts to over $20 M out of which
the government grant amounts to $8.5
M. The new facility has also enabled the further growth of
Selvita, the CRO division of Ryvu that was spun-out in 2019 and
will take over the facilities at JCI which the combined company has
rented since 2009. The successful spin-out has created $170 M value for Ryvu shareholders.
"Access to the state of the art laboratory space is one of
the key development factors for any reputable biotechnology
company. In the Polish market reality, the only way to guarantee
ourselves such access, and consolidate Ryvu team scattered in
different locations, was to construct such facility on our own. We
are very pleased that one of the most modern buildings of this type
in our country, was built in Krakow – the city, that we believe is a
perfect place to become a world-class center for innovative
research and development in the field of pharmacy and
biotechnology. Human resources, growing research infrastructure,
favorable scientific environment and history of drug research in
Krakow, are the great potential of
the city where we work," comments Pawel Przewięźlikowski,
co-founder and CEO of Ryvu Therapeutic S.A. "We are very happy
with the collaboration with our general contractor Mota-Engil
Central Europe. We broke the ground on the new facility in
August 2018 and are moving in
June 2020 almost on the original
schedule," added Przewiezlikowski.
The investment in construction and equipping of the Centre has
been co-financed by the Government of Poland and the European Union under the
European Regional Development Fund and is in line with the Strategy
for Responsible Development adopted in February 2017 by the Polish government, which
supports development projects in the biotechnology, pharmaceutical
and chemical industries in Poland.
In line with the current Covid-19 pandemic restrictions the
official public opening ceremony of the new building is planned for
the Fall of 2020.
About Ryvu Therapeutics
Ryvu Therapeutics is a clinical stage biopharmaceutical company
developing novel small molecule therapies that address emerging
targets in oncology. Pipeline candidates make use of diverse
therapeutic mechanisms driven by emerging knowledge of cancer
biology, including small molecules directed at kinase, synthetic
lethality, immuno-oncology and cancer metabolism targets. SEL120 is
a selective CDK8 kinase inhibitor with potential for the treatment
of hematological malignancies and solid tumors currently in Phase 1
clinical studies for the treatment of acute myeloid leukemia and
myelodysplastic syndrome. SEL24/MEN1703 is a dual PIM/FLT3 kinase
inhibitor licensed to the Menarini Group in Phase 2 clinical
studies for the treatment of acute myeloid leukemia. Ryvu is listed
on the Warsaw Stock Exchange in Poland (WSE:RVU). For more information, please
see www.ryvu.com.
Contact:
Media:
Natalia Baranowska
+48-784-069-418
natalia.baranowska@ryvu.com
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SOURCE Ryvu Therapeutics