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Ryvu Therapeutics SARyvu Therapeutics plans group layoffs, halts recruitment of patients for clinical trial
Listed biotech firm Ryvu Therapeutics has decided to reorganise to extend its funding period until the second half of 2026. It intends to carry out collective redundancies and is halting recruitment of new patients in RIVER-52, a phase II trial of RVU120 as monotherapy in AML/HR-MDS, Ryvu said in a press release.
"(...) Given our cash position, revenue projections, cost structure and challenging market environment, we have taken the decision to optimise spending to ensure the company has sufficient cash runway to generate key data for RVU120 and the preclinical projects, with the expectation that the achievements we generate in the coming year will support future financial inflows," said the CEO Pawel Przewiezlikowski, quoted in the press release.
Ryvu plans to carry out collective redundancies between February 25 and June 30, 2025. They will cover approximately 30 percent of the workforce (no more than 95 people).
As stated, after the layoffs, the company will continue to employ around 200 people, maintaining its full potential to execute projects.
The company has decided on changes to its project portfolio. Recruitment of new patients in RIVER-52, a Phase II clinical trial of RVU120 as monotherapy for the treatment of r/r AML or HR-MDS, will be halted in order to focus investment on other pathways for the development of RVU120.
"Patients enrolled in the trial to date will continue treatment as per protocol. The remaining three phase II RVU120 clinical trials (RIVER-81, POTAMI-61 and REMARK) are progressing as planned," Ryvu said in the press release.
As of February 23, 2025, the company has had cash and other liquid financial assets of PLN 192 million (EUR 46.14 mln). In addition, it had secured approximately PLN 91 million (EUR 21.87 mln) in non-dilutive grant funding.
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