2021 – ett omdanande år för Scandion Oncology
Scandion Oncologys nyligen publicerade årsredovisning för 2020 sammanfattar ett år av utveckling i bolaget, men indikerar också stora kommande händelser under 2021. BioStock kontaktade Scandion Oncologys vd Bo Rode Hansen för få hans syn på förändringarna som sker i Scandion och om vad som väntar i bolaget under de kommande månaderna.
I Scandion Oncologys årsredovisning för 2020, sammanfattas 2020 som ett givande år för det Köpenhamnsbaserade cancerläkemedelsresistensbolaget, trots de utmaningar som pandemin medförde. I synnerhet mot slutet av 2020 påbörjade Scandion Oncology en omvandling från att främst fokusera på FoU, till att bli en mer affärscentrerad organisation. Denna omvandling har fortsatt in i 2021, och under de senaste månaderna har bolaget kunnat positionera sig bättre, inte bara när det gäller den övergripande organisationen, utan också när det gäller pipeline, finanser och internationella fotavtryck.
Förstärkt pipeline
Scandion Oncologys huvudmål har hela tiden varit att utveckla cancerbehandlingar som kan hjälpa patienter att övervinna en alltför vanlig dödsorsak: cancerläkemedelsresistens. Bolagets toppkandidat, SCO-101, har i flera prekliniska studier visat att den, om den ges tillsammans med kemoterapi, kan motverka de resistensmekanismer som vanligtvis observeras i cancerceller. Under 2020 inledde Scandion två kliniska studier med SCO-101 i kombination med kemoterapi: CORIST, en proof-of-concept (PoC) klinisk fas II-studie i patienter med metastaserad kolorektalcancer och PANTAX, en fas Ib-studie som tittar på effekterna av SCO-101 hos patienter med metastaserad bukspottkörtelcancer.
För mer information om studierna, läs förra veckans BioStock-intervju med Scandion Oncologys COO och chef för FoU-verksamheten, Maj Hedtjärn.
Förstärkt organisation
Då man kunnat inleda två kliniska prövningar med sin primära läkemedelskandidat vilade Scandion Oncology inte på lagrarna utan stärkte ledningsgruppen för att kunna fokusera på, inte bara det fortsatta kliniska arbetet, utan också på affärsutveckling. I oktober 2020 påbörjade Bo Rode Hansen sin anställning som vd och koncernchef för Scandion Oncology, vilket gav bolaget över två decenniers internationell entreprenörserfarenhet inom bioteknik och pharma.
I syfte att stärka ledningsgruppen ytterligare utsågs ovan nämnda Maj Hedtjärn till COO och chef för FoU-verksamheten i mars i år. Hon tillför betydande ledarskapserfarenhet inom FoU från skandinaviska såväl som internationella bioteknik- och pharmabolag.
Därutöver anslöt nyligen en värdefull medlem till bolagets Clinical Advisory Board (CAB): Dr Richard L. Schilsky. Dr Schilsky är tidigare CMO och Executive Vice President för American Society of Clinical Oncology (ASCO) och långvarig fakultetsmedlem vid University of Chicago. Han är därmed en högprofilerad internationell ledare inom klinisk onkologi som vet vad som krävs för att ta nya, säkra och effektiva cancerläkemedel från klinisk utveckling till marknad.
»There is currently no medicine on the market which is positioned to revert resistance towards cancer drugs – i.e., chemotherapy. There is a major unmet need in this space. Cancer is the cause of millions of lost lives every year and the majority linked to treatment-resistant tumours. Our aim is to build a pipeline of products that will help patients around the world with therapy-resistant tumours – spearheaded with our lead compound SCO-101. We will continue to build our pipeline on our learnings and thereby become the Cancer Drug Resistance Company« — Bo Rode Hansen, koncernchef och vd för Scandion Oncology
Stärkta finanser och internationellt fotavtryck
I slutet av 2020 tog Scandion Oncology ett viktigt steg för att stärka finanserna för att kunna fortsätta rida på det positiva momentum från det kliniska arbetet och bygga en organisation som blickar framåt. Genom en företrädesemission kunde bolaget säkra cirka 236 Mkr före emissionskostnader, vilket främst kommer att investeras i den kliniska utvecklingen av SCO-101. I syfte att göra bolagets aktie tillgänglig för fler internationella investerare, bytte Scandion Oncology den 3 februari handelsplats från den mer lokala Spotlight Stock Market, till den mer internationellt synliga Nasdaq First North Growth Market Sweden.
Vd kommenterar
Nu, när Scandion Oncology närmar sig den första viktiga interimsavläsningen från CORIST-studien, är bolaget redo att vidga sina vyer, såväl på klinisk nivå som på bolagsnivå för att säkra en gynnsam kommersiell position framöver. BioStock kontaktade Scandion Oncologys vd Bo Rode Hansen för att få ta del av hans tankar kring årsredovisningen för 2020 och vad hans vision är för resten av 2021 och framöver.
Bo Rode Hansen, the 2020 annual report has just been released. Could you tell us what the main take home message is from the report?
– 2020 was a landmark year. We are evolving Scandion Oncology towards a more mature and internationally-focused company. We are close to getting important results from our most advanced clinical study, we have strengthened the leadership in the company with experience from the pharmaceutical business space, brought in an international profile to our clinical advisory board and have secured a good financial position in order to become a leader in combatting cancer drug resistance.
Let’s take a quick look back at 2020 and the early part of this year. Scandion has gone through quite a big transformation, especially at the executive management level. How would you describe this “new” Scandion Oncology?
– Many things happened in 2020 in line with the overall strategy for the company. What you call a transformation, we call a natural evolution and a tribute to having matured Scandion Oncology to a certain stage company. I think it is necessary and expected that competences are brought on board when a company has managed to go from concept and preclinical data to becoming a Nasdaq First North-listed clinical stage company. It requires different skills at the different stages, and right now we are getting ready to position Scandion Oncology internationally with a very important medical contribution addressing chemotherapy resistance.
In the annual report, you mention the aim of becoming the Cancer Drug Resistance Company. What do you mean by that?
– There is currently no medicine on the market which is positioned to revert resistance towards cancer drugs – i.e., chemotherapy. There is a major unmet need in this space. Cancer is the cause of millions of lost lives every year and the majority linked to treatment-resistant tumours. Our aim is to build a pipeline of products that will help patients around the world with therapy-resistant tumours – spearheaded with our lead compound SCO-101. We will continue to build our pipeline on our learnings and thereby become the Cancer Drug Resistance Company.
What would you say has been the most important milestone for Scandion Oncology since you have begun your role as CEO last October?
– I think there have been some important events like getting financed for the coming years, progressing our clinical trials through the ongoing pandemic but also getting the right people on board for the continued evolution of the company. At the end of the day, it is people who transform science and data into medicines and create value for patients and shareholders.
Scandion has successfully initiated two clinical trials with its top candidate SCO-101, the CORIST study in colorectal cancer and the PANTAX study in pancreatic cancer. Can you give us more specifics on the timelines of these studies and when we can expect data updates?
– CORIST, where we dose SCO-101 together with chemotherapy (FOLFIRI), is close to read-out from the first part of this phase II study. We are expecting to report this read-out in Q2 2021. The endpoints of part 1 are safety and tolerability. We will continue directly to part 2 of the study which is an effect arm (PoC). The read-out for part II is expected in Q1-Q2 of 2022. In the PANTAX study, we are giving SCO-101 together with chemotherapy (Nab-paclitaxel and gemcitabine) in pancreatic cancer patients in a phase 1b study. This study is expected to read out in Q4 2021 and will form the basis for a phase II study.
Thanks to the rights issue from late last year, Scandion Oncology is ready to take SCO-101 to new heights. Besides the current indications (colorectal and pancreatic cancer), what’s in store for your lead candidate?
– Right now, we are focusing on the current indications and actually, I think it is quite impressive to have two ongoing trails for a company like Scandion Oncology. That said we are evaluating, based on our science, data and market assessments, which trial should follow the first two – both with focus on SCO-101 and also other candidates for our pipeline. I am looking forward to communicating more about this at upcoming events – e.g., at our capital markets day planned for this autumn.
The pandemic has obviously impacted biotech companies quite heavily, some more than others. How has it impacted Scandion, and do you expect any delays to your clinical trials in the months to come?
– No doubt, there has been an enormous pressure on our healthcare systems, and it has been impossible to avoid impact on our clinical development. It has also been an additional challenge to deal with for patients. At Scandion Oncology we have been satisfied with our progress during this ongoing crisis. It has impacted us with uncertainties, and we have encountered delays to previously expected timelines. We have communicated that as we had clarity and will continue to do so in the future. We are more prepared this year compared to last year and accept the situation as a condition we have to deal with as our colleagues in the biotech industry.
Can you tell us more about your strategy for generating shareholder value throughout the rest of the year?
– By delivering on our clinical trials, internationalizing our clinical footprint and by ensuring a market driven positioning of our pipeline assets.
Finally, what will Scandion Oncology look like a year from now?
– A year from now, we are aiming for a strong clinical validation, several ongoing clinical trials, a growing pipeline, a commercial path for our products and a stellar team to carry it all forward in our pursuit of becoming the Cancer Drug Resistance Company.
Innehållet i BioStocks nyheter och analyser är oberoende men BioStocks verksamhet är i viss mån finansierad av bolag i branschen. Detta inlägg avser ett bolag som BioStock erhållit finansiering från.