KRAKOW, Poland, Oct. 1,
2019 /PRNewswire/ -- Ryvu Therapeutics and Selvita
(WSE: SLV) today announced that the National Court Register of
Poland ("KRS") has recognized the
corporate split of the Selvita parent company into two distinct
organizations. The recognition by the court follows the
Sept. 19, 2019, shareholder
resolution to separate oncology therapeutics and contract research
(CRO) business units.
Going forward, Ryvu Therapeutics and Selvita (CRO) will now
operate independently with separate executive management teams as
well as supervisory boards, in accordance with the shareholder
resolution.
Public trading of Ryvu Therapeutics under the symbol RVU,
separated from Selvita is expected to begin on or about
9th October, subject to approvals from the National
Depository for Securities ("KDPW") and the Warsaw Stock Exchange
("GPW").
Until this time, the value of the two independent companies will
be reflected under the current listing of Selvita on the Warsaw
Stock exchange.
Public listing of the contract research organization Selvita
(CRO) under the symbol SLV is also expected on or about
16th October.
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
clinical development 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 clinical
development for the treatment of acute myeloid leukemia.
For more information, please see www.ryvu.com.
About Selvita
Selvita is an integrated service company providing
multidisciplinary support in resolving the unique challenges of
research within area of drug discovery, regulatory studies, as well
as research and development. The company was established in
2007 and currently employs almost 450 scientists. Selvita is
headquartered in Krakow,
Poland, with a second research
site in Poznan, Poland and foreign
offices located in Cambridge, MA
and San Francisco Bay Area, in the
US, as well as in Cambridge,
UK.
The company provides integrated drug discovery support from hit
identification, through lead selection, lead optimization, and
nomination of a preclinical candidate. On top of that, Selvita
provides world-class pharma services in the field of drug testing
and bioanalytical analyses, offering services at every stage of the
drug discovery process, from development and validation of methods,
stability studies, to routine quality control testing. Significant
portion of Selvita business is also dedicated to a broad range of
chemistry research and development activities, particularly for the
pharma and agrochemical companies. Selvita laboratories are both
GLP and GMP certified. Selvita is a major shareholder in Ardigen, a
provider of precision medicine and artificial intelligence
services.
More information at: www.selvita.com
Forward-Looking Statements
This release may contain forward-looking statements. Such
forward-looking statements are not guarantees of future results.
These forward-looking statements speak only as of the date of
publication of this document. Both Selvita and Ryvu Therapeutics
expressly disclaim any obligation to update any forward-looking
statements in this document, unless specifically required by law or
regulation.
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SOURCE Selvita; Ryvu Therapeutics S.A.