Ovoca Bio PLC – Annual Report and Notice of AGM

Ovoca Bio PLC – Annual Report and Notice of AGM

Ovoca is pleased to announce the publication of its Annual Report and Financial Statements for the year ended 31 December 2018. Please click on the following link to view the Annual Report and Financial Statements:

http://www.rns-pdf.londonstockexchange.com/rns/7120D_1-2019-6-27.pdf 

Highlights 2018:

Since Ovoca announced the acquisition of Russian biotechnology firm, IVIX LLC, on 4th July 2018, Ovoca has made considerable progress in implementing its strategic refocus away from gold mining and development. In particular, Ovoca achieved notable success in the following areas in 2018:

  • Completion of the acquisition of IVIX on 25th September 2018;
  • Recruitment of patients ahead of schedule to the Russian Phase 3 clinical trial of BP101, the Company's first drug candidate for the treatment of female sexual dysfunction;
  • External expert review of BP101 preclinical and scientific data has been conducted and a programme identified to address all the regulatory needs for clinical development in the EU and United States.

 A note in response to the report from the CEO:

With the successful conclusion of last year's acquisition of IVIX LLC ("IVIX") and the re-admission of the enlarged group on Euronext Dublin and the London Stock Exchange, the foundation was put in place for establishing Ovoca as a recognized developer of novel therapeutics for women's health, especially in the area of sexual dysfunction. Our colleagues at IVIX continue to build out our successful BP101 program, which you will have seen in March 2019 comfortably exceeded the efficacy and safety hurdles in its Phase 3 trial in Russia. As a result, we are now preparing to file for the drug's marketing approval in its first country, the Russian Federation, and actively pursuing discussions with potential licensing partners to commercialize there.

Looking more expansively, to realize the large global potential of BP101 and to build Ovoca's future pipeline, the Company will pursue its transformation further into an international biotechnology development company, growing its presence and relationships outside of the home territory. Over the course of this year and into the next, we will be seeking to strengthen our international team and advisers, and increasing our visibility and the familiarity of stakeholders with our exciting story and plans. Shortly, we plan to publish which scientific experts will be advising us on our current and future pipeline opportunities. In parallel with these initiatives, we shall, of course, be completing the remaining essential activities that BP101 requires to make it an attractive partnering candidate globally and worthy of further financing where we choose to retain commercial rights. 

We trust you are as enthusiastic as we are about Ovoca's bright prospects in its new form. Moreover, we hope that last year's strong progress and our current plans help reinforce the view that Ovoca should be a company that investors want to be part of during its value-creating future.  

The Annual Report and Financial Statements will shortly be posted to shareholders and is also available online at the Company's website, www.ovocabio.com. 

Annual General Meeting:

The Notice of Annual General Meeting ("AGM") has also been published and will shortly be posted to shareholders. The AGM is convened to be held at Buswells Hotel, 23-25 Molesworth Steet, Dublin 2, Ireland on 8th August 2019 at 12.00 p.m. The Notice of AGM contains details of all resolutions to be proposed at the AGM. Copies of the Notice of AGM are also available on the Company's website, www.ovocabio.com.

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