As BioStock pointed out in an article last week, has Danish 2cureX have emerged as pioneers in functional precision medicine (FPM) by developing technology that can match each individual patient's tumor with the most effective treatment available. The technology forms the basis of the company's FPM tool IndiTreat.
2cureX has recently taken the step from research and development to a commercial company with a patented product ready for market launch. This after spending several years of research developing IndiTreat, followed by rigorous clinical validation studies in which IndiTreat has proven to be a highly effective tool in the treatment of patients with colorectal cancer. Just like the company's year-end report emphasized, the transition to the commercialization stage is largely possible thanks to the important progress made in 2019 and market launch can now be expected in the second half of 2020.
Last year's advancements include significant progress in clinical studies testing IndiTreat in patients with colorectal cancer, US patents for IndiTreat, agreements with partners for further clinical validations of IndiTreat, a strengthened financial position and an expanded management team.
Read more about 2cureX progress in 2019 here.
Early Access program evaluates IndiTreat in practice
The preparatory steps for commercialization that the company took last year also include the launch of a so-called Early Access Program which aimed to clarify IndiTreat's potential, how the test is carried out logistically, and other details regarding how the test works for different customer profiles.
Within the early access program, 2cureX has signed agreements with several hospitals/partners in markets where IndiTreat had not been used before. For example, such an agreement was signed with the Finnish Cancer Center Docrates with the aim of introducing IndiTreat to the Finnish and Baltic markets.
Checkout in line with expectations
Last year, 2cureX also successfully raised capital when it raised SEK 24,7 million in an issue with a subscription rate of 241 percent. Read moreThe cash injection took the company several steps closer to commercialization and with SEK 33,7 million in cash at the end of the year, 2cureX should be in a good position for a successful launch of IndiTreat during the second half of 2020.
BioStock had a chat with 2cureX CEO Ole Thastrup about the report and the company's commercialization strategy.
Ole Thastrup, 2cureX made several major advancements in 2019 to inch closer to commercialization with IndiTreat. Which has been the most important of such advancements as you aim for full market launch in the second half of the year?
- Preparing for market launch is a highly comprehensive process that necessitates several tracks running in parallel, and a bit of luck for them to materialize in the right time. To single out our a couple of important advancements, I would want to mention the positive development of our clinical activities, the launch of our early access program, the realization of several important patents, a successful capital rise and importantly a successful strengthening of our Management Team.
The year-end report outlines 2cureX's commercialization strategy and mentions the early access program initiated in 2019. How has the program been essential for commercialization of IndiTreat?
– 2cureX will launch its IndiTreat product in several different markets in Europe. The vision with the Early Access program was to ensure that the organization would get "experience" with expediting the IndiTreat test, to receive essential information and learning around key factors such as local logistics, reimbursement/market access practices and clinical guidelines. This is critical for a young organization that is preparing for an important product launch.
You are also in commercial discussions with potential partners, including oncologists at public and private hospitals,commercial labs that provide test services to cancer clinics, and IVD test dice distributors. How crucial is it to build a strong network with such partners?
– We want the IndiTreat test to reach into all corners of the European cancer treatment institutions. To achieve this goal, we need "boots on the ground;" we need partners with market knowledge in the field of IVD diagnostics and connections with the right customer networks and KOLs (Key Opinion Leaders) to support our product launch.
What will be some of the main activities 2cureX will engage in between now and the full launch of IndiTreat to ensure a smooth launch?
– 2cureX will continue to reach out to COPD and networks in the field of precision medicine in order to push for the implementation of Functional Precision Medicine forward. We will continue to focus on our clinical strategy to make sure that IndiTreat is supported by compelling evidence and supported by partnerships with renowned clinical institutions.
What is 2cureX's post-launch vision?
– Our Vision is to implement the IndiTreat test as a standard tool for guiding cancer treatment, in the first place to guide cancer treatment of colorectal cancer patients, and subsequently to expand to other cancer entities such as ovarian cancer and pancreatic cancer.
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