BIVICTRIX COMPLETES INTERNAL FUNDING ROUND AND MAKES SENIOR HIRE

Alderley Park-based BiVictriX has completed an internal funding round and appointed an industry specialist to its board.

michael-carter.jpg

Dr Michael Carter has joined as a non-executive director, bringing more than 40 years of experience to the position. He has had an active role in the development of more than 20 medicines.

Previous companies include Roche Products and SV Healthcare Partners, and he is currently a member of the investment and strategic advisory committees of Healthcare Royalty Partners.

Chairman Norman Molyneux said: "[Michael's] deep understanding and experience of the life sciences sector, both in the development and commercialisation of cancer therapeutics, and in building successful biotechnology companies, will be invaluable as BiVictriX continues to progress its project portfolio.

"I look forward to his contributions in supporting the company in its next phases of development."

The company has also completed an internal fundraising round, in which all major shareholders participated.

These included the existing institutional shareholders, Alderley Park Ventures and Development Bank of Wales.

BiVictriX will use the cash injection to complete non-clinical studies in preclinical models of leukaemia on its lead project BVX001 and initiate additional projects ahead of a planned Series A in 2020.

Patrick Molyneux