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Acrivon Therapeutics Reports First Quarter 2023 Financial Results and Business Highlights
WATERTOWN, Mass., May 09, 2023 (GLOBE NEWSWIRE) -- Acrivon Therapeutics, Inc. (“Acrivon” or “Acrivon Therapeutics”) (Nasdaq: ACRV), a clinical stage
About this update from Acrivon Therapeutics, Inc.
[{"type":"text","content":"WATERTOWN, Mass., May 09, 2023 (GLOBE NEWSWIRE) -- Acrivon Therapeutics, Inc. (“Acrivon” or “Acrivon Therapeutics”) (Nasdaq: ACRV), a clinical stage biopharmaceutical company developing precision oncology medicines that it matches to patients whose tumors are predicted to be sensitive to each specific medicine by utilizing its proprietary proteomics-based patient responder identification platform, today reported financial results for the first quarter ended March 31, 2023 and reviewed business highlights. “We are breaking the mold for precision oncology drug development and believe that Acrivon’s predictive precision proteomics (AP3) platform has paradigm-changing potential for improving patient treatment outcomes and the probability of clinical success,” said Peter Blume-Jensen, M.D., Ph.D., chief executive officer, president, and founder of Acrivon. “The AP3 method is specifically designed to overcome the limitations of traditional genetics-based methods and aims to match our precision oncology drug candidates to the patients whose tumors are predicted sensitive to them, independent of underlying genetic alterations. We have used AP3 to generate an ACR-368-tailored OncoSignature® patient selection test that we are using in our potentially registrational trial in three indications. Based on previously-generated data, we have just received Fast Track designation from the Food and Drug Administration for the investigation of ACR-368 as a monotherapy for patients with OncoSignature-positive platinum resistant ovarian cancer and endometrial cancer. We also recently hosted an AP3 platform-focused investor event that highlighted the robust data output and actionable items that result from analyzing benchmark clinical-stage compounds and how we leverage AP3 to rationally design our preclinical drug candidates -- in parallel with developing patient selection capabilities, indication finding, rational drug combinations and drug resistance mechanisms. Importantly, the underlying principles of the AP3 platform are disease- and modality-agnostic, and we intend to deploy it broadly not only to our preclinical pipeline of internally-developed, wholly-owned DDR drug candidates, but also for potential co-development opportunities where genetics-based approaches are insufficient for patient responder identification.” Recent Highlights Continuin...