Rakovina Therapeutics Inc. Announces 2023 Financial Results and Provides Corporate Update

VANCOUVER, British Columbia, April 26, 2024 (GLOBE NEWSWIRE) -- Rakovina Therapeutics Inc. (TSX-V: RKV, the “Company”) a biopharmaceutical company committed to advancing new cancer therapies based on novel DNA-damage response technologies announced the financial results for its fourth quarter and fiscal year ending December 31, 2023 and provided a corporate update.

2023 Highlights and Recent Developments

• On March 27, 2024 we announced a collaboration agreement with Dr. Artem Cherkasov granting Rakovina with exclusive access to the proprietary Deep Docking (trademarked) artificial intelligence (“AI”) Platform for DNA-damage response targets. Using the Deep Docking platform powered by advanced AI algorithms, Rakovina can quickly analyze billions of molecular structures to evaluate their potential as targeted cancer drugs. The company then validates the activity using its established R&D infrastructure. This approach is innovative to developing new drug therapies that target DNA-damage response-related vulnerabilities that are common in many types of cancer.
• On November 27, 2023, we announced the appointment of Prof. Artem Cherkasov, Senior scientist at the Vancouver Prostate Center and Canada Research Chair in Precision Cancer Drug Design to Rakovina Therapeutics’ Scientific Advisory Board.
• On November 20, 2023 we announced the appointment of Prof. Petra Hamerlik, Chair of Translational Neuro-Oncology at the University of Manchester and former CNS Cancer Bioscience Lead at AstraZeneca plc, to Rakovina Therapeutics ’s Scientific Advisory Board.
• In June 2023, we published a manuscript in the Journal of Clinical Cancer Research reporting the characterization of a kt-3000 lead candidate with dual activity against PARP and HDAC enzymes as a potential treatment for Ewing sarcoma and other treatment-resistant cancers.
• On April 19, 2023, we presented new preclinical in vitro and in vivo data demonstrating the potential of our kt-3000 series against treatment-resistant Ewing sarcoma, a rare childhood tumor, at the annual meeting of the American Association of Cancer Research (AACR).
• On March 30, 2023, we announced the engagement of Red Cloud Securities and Proactive Investors Nort America Inc as part of our evolving strategy to improve trading liquidity and increase awareness of our next-generation cancer therapy development pipeline.
• On March 22, 2023, we announced the receipt of $122,865 in non-dilutive finding from the National Research Council of Canada industrial Research Assistance Program.
• On March 17, 2023, we presented new preclinical data describing progress in our lead optimization activities for our novel kt-3000 series at the EACR-AACR Basic and Translational Research Conference.

Summary Financial Results for the fourth quarter and year ended December 31, 2023