Spago Nanomedical's vision is to engage in competitive and successful development of products for increased survival and quality of life for patients and thereby create long-term profitability for the company and its owners.
More Accurate Diagnosis and Treatments
The company's operations are based on a patented material for the design of functional nanoparticles that accumulate physilogically in tumors, thus enabling higher precision and improved cancer patient care. The current pipeline projects have the potential to facilitate diagnostics and improve the treatment of cancer indications with urgent medical needs.
The SpagoPix project aims to launch a ground-breaking gadolinium-free MRI contrast agent for visualization of tumors and metastases. Unlike the conventional low molecular-weight MRI contrast agents, which enhance healthy tissue as well as tumor tissue, and therefore results in a relatively high proportion of false positive findings, Spago Nanomedical’s proprietary contrast agent is designed to selectively accumulate in tumor tissue. This improves the precision of MRI scans for suspected cancers. With better cancer diagnostics, the chances of successful and cost-efficient treatment of cancer patients improve. The Tumorad® project aims to develop a novel therapeutic radiopharmaceutical targeting solid tumors based on nanoparticles loaded with radioactive isotopes. The design of Tumorad® makes tumor selectivity possible even in the case of small, difficult-to-reach and aggressive tumors, which enables efficient radiation treatment of the cancer while minimizing the risk of adverse effects.
Spago Nanomedical´s share is listed on Nasdaq First North Growth Market in Stockholm (ticker: SPAGO).
Comments from the CEO
We continue to make important progress in the projects and during the third quarter we were, not least, able to move Tumorad® closer to clinical studies. The development is proceeding according to plan, and the target is to start the first clinical trial with the candidate drug SN201 in patients with advanced cancer in 2022.
Recruitment for the clinical study SPAGOPIX-01 remains in focus. The target is to complete the current dose group as soon as possible and decide on the next step. The interim results communicated from the study so far show that SpagoPix (SN132D) clearly accumulates in cancerous tumors to provide images of tumors with high precision and positive contrast without disturbing background.
Our platform technology thus provides the opportunity to clinically and precisely accumulate functional nanoparticles in solid tumors. In a preclinical model for aggressive breast cancer, SN201 has shown a positive effect by delaying tumor growth. We thus believe that Tumorad can be an important and effective addition to the treatment arsenal and that SN201 has a great potential against aggressive and spread cancer, and have a place in the growing market for radionuclide-based cancer treatment.
There is currently a lack of effective drugs for advanced stages of several major cancers where mortality is largely due to the tumors continuing to grow or spread. Targeted radionuclide therapy as a treatment for spread cancer has attracted increasing interest in recent years with the development success of big pharma with Novartis in the lead. Already market-approved drugs, and not least completed partnering deals in the field, show that there is a significant value in the radionuclide therapy market. As an example, Coherent Market Insight estimates that the PRRT (Peptide Receptor Radionuclide Therapy) market will grow annually by 27 percent and be worth approximately $ 1.6 billion in 2027.
Paul Hargreaves recently joined Spago Nanomedical as Chief Development Officer, and the appointment of Paul, who has almost 30 years of experience in clinical development from Pfizer, among others, puts further focus on our important work. I am convinced that Paul will be a very valuable asset for our projects, especially in the work of preparing and implementing the clinical development with Tumorad.
We are well set to vigorously progress the projects.
Mats Hansen, CEO Spago Nanomedical AB