Alderley Park-based BiVictriX Therapeutics plc, a developer of targeted cancer therapies based on its novel Bi-Cygni approach, has announced its intention to float on the AIM section of the London Stock Exchange plc.

BiVictriX is proposing to raise £7.5 million via a placing and subscription of new ordinary share.

SP Angel Corporate Finance LLP is acting as nominated advisor and sole broker to the Chesire company.

BiVictriX Therapeutics CEO Tiffany Thorn said: “I am thrilled to announce our intention to list on AIM, signifying a new chapter in our company’s long term development.

“The listing will enable us to accelerate our growth and expedite the development and delivery of our next-generation, highly selective cancer therapeutics, based on our proprietary Bi-Cygni platform.

“By targeting combinations of antigens expressed primarily on cancer cells, our unique approach enables clinicians to treat patients with higher precision and potentially higher doses of medication.

“This promises to lead to better cancer eradication, without causing harmful side-effects to the patient.

“Our approach could prove to be a game-changing avenue for patients diagnosed with some of the most difficult-to-treat cancers and I look forward to progressing the Group’s lead programme, BVX001, to support patients suffering from one of the most aggressive cancers, Acute Myeloid Leukaemia.”