Lytix Biopharma - Update from licensing partner Verrica Pharmaceuticals

05 Nov 2024 07:00 CET

Oslo, November 5th, 2024: Lytix Biopharma, a Norwegian immuno-oncology company
dedicated to being part of tomorrow’s cancer treatment, refers to the third
quarter announcement made by its licensing partner Verrica Pharmaceuticals
November 4th, 2024.

In the release, Verrica Pharmaceuticals reported financial results, provided an
update on its strategies to strengthen the balance sheet and announced a new
management.

Dr. Jayson Rieger is appointed as new CEO of Verrica Pharmaceuticals. Rieger is
also a board member of Lytix Biopharma and will continue as part of the Board of
Directors of Lytix Biopharma also after taking the role as CEO of Verrica
Pharmaceuticals.

Verrica is actively exploring ways of strengthening the balance sheet and has
hired Jefferies as financial advisors.

You can read the full release from Verrica via this link:
https://www.globenewswire.com/news-release/2024/11/04/2974439/0/en/Verrica-Pharm
aceuticals-Reports-Third-Quarter-2024-Financial-Results-and-Announces-Leadership
-Transition.html

Lytix Biopharma will present its Q3 results November 19th.

Verrica is currently finalizing its Phase II study with LTX-315 on treatment of
patients with basal cell carcinoma, following the promising and positive
top-line readout in August. Verrica has a worldwide license from Lytix to
develop and commercialize LTX-315 for dermatological oncology indications,
except metastatic melanoma and metastatic Merkel cell carcinoma. Under the
license agreement, Lytix may receive total payments of more than $110 million
upon achievement of certain clinical, regulatory and sales milestones. In
addition, Lytix is entitled to royalty payments in the double-digit teens.

For any questions, please contact:
Dr. Øystein Rekdal, CEO
oystein.rekdal@lytixbiopharma.com
+47 975 73 358

Gjest Breistein, CFO
gjest.breistein@lytixbiopharma.com
+47 952 60 512

About Lytix Biopharma
Based in Oslo, Norway, Lytix Biopharma is a clinical-stage biotech company with
a highly novel technology based on world leading research in host-defense
peptide-derived molecules. Lytix Biopharma’s lead product, LTX-315, is a
first-in-class oncolytic molecule representing a new principle to boost
anti-cancer immunity. Lytix Biopharma has a pipeline of molecules that can work
in many different cancer indications and treatment settings, both as mono- and
combination therapy.

About Verrica Pharmaceuticals
Verrica is a dermatology therapeutics company developing medications for skin
diseases requiring medical interventions. Verrica’s product YCANTH® (VP-102)
(cantharidin), is the first and only commercially available treatment approved
by the FDA to treat adult and pediatric patients two years of age and older with
molluscum contagiosum, a highly contagious viral skin infection affecting
approximately 6 million people in the United States, primarily children. YCANTH®
(VP-102) is also in development to treat common warts and external genital
warts, two of the largest remaining unmet needs in medical dermatology. Verrica
is developing VP-103, its second cantharidin-based product candidate, for the
treatment of plantar warts. Verrica has also entered a worldwide license
agreement with Lytix Biopharma AS to develop and commercialize VP-315 (formerly
LTX-315 and VP-LTX-315) for non-melanoma skin cancers including basal cell
carcinoma and squamous cell carcinoma. For more information, visit
www.verrica.com.

More information:
Access the news on Oslo Bors NewsWeb site

631208_Lytix Biopharma_Verrica_PR_ENG - 2024-11-05.pdf