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Emerging biotechnology company BiVictriX Therapeutics reported first half losses than more than doubled as higher amid a ramp-up in costs.
For the six months ended 30 June 2021, pre-tax losses widen to £451,000 from £167,000 year-on-year as expenses swelled to £419,000 from £167,000.
R&D investment rose to £0.165 million from £0.121 million.
The company also announced the completion of two antibody discovery campaigns with IONTAS Limited, aimed at supporting the optimisation of BiVictriX's lead development programme, BVX001.
'With the support of our new board advisers and shareholders, and having completed our IPO last month, we have new funds available so are well positioned to make significant progress over the next 12 months including making a number of key appointments, progressing the development of our lead programme BVX001, securing further IP protection and broadening our pipeline of work programmes,' the company said.