The board of directors of Lytix Biopharma has decided to apply for a listing of the company on Euronext Growth, simultaneously carrying out a capital increase.
Lytix Biopharma has decided to initiate the process to secure funding of the company’s development program, including phase II clinical trials in the US for the lead candidate LTX-315. The board of directors has mandated the management to subsequently list its shares on Euronext Growth Oslo. Besides previously announced Arctic Securities and Sparebank 1, Swedbank has been engaged as financial advisor in the process.
“Cancer is one of the world’s largest health problems and our goal is that Lytix Biopharma’s technology will play an important role in cancer treatment in the future. We develop medicines across several cancer indications based on immunotherapy, activating the body’s own immune system to recognize and kill a variety of cancer cells. LTX-315 has shown very promising efficacy and safety signals and we are excited to enter the next chapter of the company’s history,” says Øystein Rekdal, CEO of Lytix Biopharma.
Milestone agreement and FDA approval
Lytix Biopharma entered previous August a milestone licensing agreement with the US based dermatology company Verrica Pharmaceuticals for Lytix’ lead candidate LTX-315 for skin cancer diseases.
In January, Lytix announced that the U.S Food and Drug Administration (FDA) has approved the company’s IND application for LTX-315, an oncolytic molecule in development for various solid tumors.
Photo of Gert W. Munthe, Chairman of the Board Lytix Biopharma, and Øystein Rekdal, CEO, Lytix Biopharma