ROQ Roquefort Therapeutics Plc

TIDMROQ

RNS Number : 2195S

Roquefort Therapeutics PLC

08 March 2023

8 March 2023

Roquefort Therapeutics plc

("Roquefort Therapeutics" or the "Company")

Creation of New Novel Family of mRNA Therapeutics

Portfolio enhanced with in-house development of a platform of novel mRNA medicines

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF), the Main Market listed biotech company focused on developing first in class medicines in the high value and high growth oncology market is pleased to announce the successful development of a new novel platform of anti-cancer mRNA therapeutics. This is the Company's fifth program and the third in its Midkine ("MDK") family.

Following the Company's initial success with oligonucleotide therapeutics reported during 2022, the Roquefort Therapeutics drug discovery team, led by Vice President of Drug Discovery, Professor Graham Robertson, has developed a pioneering mRNA anti-cancer program. This new platform of mRNA therapeutics was developed internally and consists of four mRNA pre-clinical therapeutics targeting Roquefort Therapeutics' novel MDK target.

mRNA is a cutting-edge anti-cancer approach pioneered by leading biotech companies Moderna and BioNTech. Importantly, this is the first mRNA targeting Roquefort Therapeutics' novel MDK target and has been developed in-house within the Company's existing budget and schedule.

The significance of the mRNA program is twofold: (1) it highlights Roquefort Therapeutics' internal R&D capacity to develop cutting edge pre-clinical cancer medicines within the Company's strategy and which complements the Company's ability to select and acquire external programs; and (2) anti-cancer mRNA is a highly commercially attractive field. Through developing its own mRNA platform, Roquefort Therapeutics significantly increases its profile and highlights its position within the one of the most attractive niches in the biotech field for licensing and M&A.

Developing the mRNA anti-cancer program is highly synergistic with the Company's existing oligonucleotide MDK program in development at the University of New South Wales, ensuring development continues to remain on budget and on schedule. The addition of the mRNA family expands Roquefort Therapeutics' portfolio to five highly innovative programs which remain fully funded to the critical value inflection point of clinical trial readiness.

The Company is now working towards demonstrating efficacy of the mRNA therapeutics in specific cancer targets, alongside the Company's existing oligonucleotide MDK program.

Ajan Reginald, Chief Executive Officer of Roquefort Therapeutics, said:

"We are continuing to build momentum in 2023 having successfully completed the Midkine antibody pre-clinical development milestone in January and the Randox licensing deal in February. In parallel, our R&D team has been perfecting four mRNA anti-cancer therapeutics that target Midkine.

This is an exciting new approach to treat cancer which is attractive to big pharma, demonstrated by some large recent licensing deals and acquisitions. mRNA fits well into our existing portfolio with a highly synergistic development and so increases our chances of success (with a highly attractive asset) without increasing spend. In the meantime, we remain highly focused and on schedule to announce more value inflexion milestones on time and within budget. "

-Ends-

Enquiries:

 
 Roquefort Therapeutics plc 
 Stephen West (Chairman) / Ajan           +44 (0)20 3918 
  Reginald (CEO)                                    8633 
 Hybridan LLP (Joint Broker) 
  Claire Louise Noyce 
 
  Optiva Securities Limited (Joint        +44 (0)203 764 
  Broker)                                           2341 
                                          +44 (0)20 3411 
 Christian Dennis                                   1881 
 
  Buchanan (Public Relations) 
  Ben Romney / Jamie Hooper / George      +44 (0)20 7466 
  Beale                                             5000 
 

LEI: 254900P4SISIWOR9RH34

About Roquefort Therapeutics

Roquefort Therapeutics (LSE:ROQ, OTCQB:ROQAF) is a Main Market listed biotech company developing first in class drugs in the high value and high growth oncology segment prior to partnering or selling to big pharma.

Since listing in March 2021, Roquefort Therapeutics has successfully acquired Lyramid Pty Limited, a leader in the development of medicines for a new therapeutic target, Midkine (a human growth factor associated with cancer progression), and most recently acquired Oncogeni Ltd, founded by Nobel Laureate Professor Sir Martin Evans, which has developed two families of innovative cell and RNA oncology medicines.

Roquefort Therapeutics' portfolio consists of five fully funded, novel patent-protected pre-clinical anti-cancer medicines. The highly complementary profile of four best-in-class medicines consists of:

   --    Midkine antibodies with significant in vivo efficacy and toxicology studies; 
   --    Midkine RNA therapeutics with novel anti-cancer gene editing action; 
   --    Midkine mRNA therapeutics with novel anti-cancer approach 
   --    STAT-6 siRNA therapeutics targeting solid tumours with significant in vivo efficacy; and 
   --    MK cell therapy with direct and NK-mediated anti-cancer action. 

For further information on Roquefort Therapeutics, please visit www.roquefortplc.com and @RoquefortTherap on Twitter.

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