Ryvu Therapeutics Reports 2023 Half-Year Financial Results and Provides Corporate Update

• The total operating revenues amounted to $7.9M and increased by 131% compared to H1 2022.
• Updated clinical and preclinical data on RVU120 were presented at the European Hematology Associated (EHA) Congress in June 2023.
• Preparation for the execution of Phase II clinical trials of RVU120 in AML and HR-MDS are in advanced stages.
• Warsaw Stock Exchange has included Ryvu stock in the mWIG40 index, which groups medium-sized companies.
• $14M in non-dilutive grant funding was secured from the Medical Research Agency (ABM) – the largest grant obtained to date by Ryvu.
  

KRAKOW, Poland, Sept. 13, 2023 (GLOBE NEWSWIRE) -- Ryvu Therapeutics (WSE: RVU), a clinical-stage drug discovery and development company focusing on novel small molecule therapies that address emerging targets in oncology, reported today financial results for the first half of 2023 and provided a corporate update.

“The last months of 2023 were a productive period for Ryvu as we made significant developments across our clinical programs, collaboration activity, and strengthening our balance sheet”, said Pawel Przewiezlikowski, CEO of Ryvu Therapeutics. “In the first half of 2023, we recognized an increase of 131% in our total operating revenues thanks to the achievement of a milestone from Exelixis and the ongoing research collaboration with BioNTech. At the same time, in the last few weeks, we secured the most significant grant financing in Ryvu's history from the Medical Research Agency, amounting to over $14 million. We now enter the second half of 2023 well-positioned to execute our goals, prioritizing advancing RVU120 to Phase II studies.”

First Half 2023 and Recent Highlights

Ryvu enters the mWIG40 index

As a result of the quarterly index revision on the Warsaw Stock Exchange (WSE), starting from September 18, 2023, Ryvu will be included in the mWIG40 index, which groups 40 companies from the main market (outside the WIG20) with the highest position in the ranking determined primarily on the basis of market trading volume and capitalization.

Ryvu entered into two agreements with Fortrea to execute RIVER-52 and RIVER-81 Phase II trials

Under the terms of the agreements, Fortrea (formerly known as LabCorp’s Clinical Development and Commercialization Services), a global Contract Research Organization (CRO), will operationally execute two Phase II clinical trials of RVU120: as a monotherapy (RIVER-52 study) and in combination therapy with venetoclax (RIVER-81 study), for the treatment of patients with Acute Myeloid Leukemia/High-Risk Myelodysplastic Syndrome (AML/HR-MDS). In both studies, Fortrea will provide services related to the operational execution of clinical trials, including but not limited to clinical project management, medical and safety monitoring, as well as clinical site management and monitoring.