Ryvu Therapeutics Announces Disbursement of First Tranche of EUR 8 Million Venture Debt from the European Investment Bank
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Ryvu has met the conditions for receiving
EUR 8 million in Tranche A of venture debt from theEuropean Investment Bank (EIB) due to the progress within the RVU120 program among other factors. -
Pursuant to the agreement concluded with EIB, Ryvu still has access to a further
EUR 14 million over two additional tranches. The disbursement of funds is subject to specific conditions outlined in the agreement. - Together with various sources, this financing secures Ryvu's cash runway until Q1 2026.
KRAKOW,
In
"We are excited that the progress of RVU120 now allows us to access the funds to help accelerate the development of our lead program and the rest of Ryvu's pipeline. Together with different sources, the financing secures Ryvu's cash runway until Q1 2026.", said Pawel Przewiezlikowski, Chief Executive Officer of
The EIB's financial support will help Ryvu finance its development pipeline of new cancer treatments, from discovery to clinical trials. Ultimately, Ryvu aims to address the clinical limitations of current treatments in oncology and provide patients with access to innovative therapies for hematologic and solid tumors.
About Ryvu Therapeutics
Ryvu's most advanced programs include RVU120, a selective CDK8/CDK19 kinase inhibitor with the potential to treat hematological malignancies and solid tumors, currently in Phase II development (i) as a monotherapy for the treatment of patients with relapsed/refractory acute myeloid leukemia (r/r AML) and high-risk myelodysplastic syndromes (HR-MDS) as well as (ii) in combination with venetoclax for the treatment of patients with r/r AML. Another clinical program, SEL24 (MEN1703), is a dual PIM/FLT3 kinase inhibitor licensed to the
The Company was founded in 2007 and is headquartered in Kraków,
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