WntResearch focuses on recruitment of patients and new CEO
Cancer therapy company WntResearch has reported an eventful first half of the year. With fresh capital and a NeoFox study back at full speed, the focus during the autumn will be on continued recruitment to reach the goal of an interim analysis by the end of 2022. Recruitment is also on the agenda for the company’s Board of Directors, as current acting CEO Anders Rabbe has chosen to move on to new challenges.
WntResearch’s drug candidate Foxy-5 is being developed to prevent metastasis of cancerous tumours, which initially targeting colon cancer. In previous preclinical studies, the candidate has been shown to have a good ability to counteract tumour formation and the phase II study NeoFox is currently being conducted to obtain clinical confirmation of these results.
Strengthened cash position in the spring
The company reported a loss for the second quarter at -8.5 MSEK, compared to the same period last year when the loss was reported to -4.1 MSEK.
»With the necessary funding to run the company’s core business until summer 2023 secured, the focus is now on an interim analysis and, in the long term, potentially helping hundreds of thousands of patients to improve cancer treatment in the future.« – Anders Rabbe, acting CEO WntResearch.
Full activity in NeoFox
During the first six months, an improved pandemic situation, enabled the study to return to full activity, which meant, among other things, that an additional 23 patients were. Currently, 80 out of 120 patients have been recruited and the recruitment is exactly what WntResearch will be focusing on during the autumn. In the report for the second quarter, the company estimates that the recruitment rate will increase during the autumn and the previous assessment of being able to carry out an interim analysis of the result by the end of 2022 remains firm.
WntResearch works on several fronts
During summer, WntResearch completed the first step of two to produce study drugs for conducting the NeoFox trial and during autumn the company will carry out the final step in that process. The company is also actively working on developing a more cost-effective manufacturing method for Foxy-5 and the goal is that this work also can contribute to an extension and broadening of the patent portfolio. Currently, two patent applications are pending, the first relating to the above-mentioned manufacturing method and the second relating to the use of Foxy-5 together with so-called checkpoint inhibitors.
WntResearch is also evaluating alternative dose rates of Foxy-5 and is further evaluating the clinical and commercial potential of the drug candidate.
Recruitment of a new CEO
During the autumn, the company will also start the process of recruiting a new CEO. Acting CEO Anders Rabbe was hired just under a year ago with the specific mission to help the company through the challenges posed by the Covid-19 pandemic. Rabbe has been given another CEO assignment and will end his position at WntResearch no later than mid-February 2022.
BioStock contacted the outgoing CEO to get his view of his time at the company.
Anders, how would you describe your time at WntResearch, in a period quite special to the world?
– It has been very exciting and challenging to run WntResearch during the past year, where I have been able to contribute a lot through my previous experiences.
How do you view the company’s future development towards possible market approval?
– I see very good opportunities for a continued positive development of Foxy-5 towards market approval.
The content of BioStock’s news and analyses is independent but the work of BioStock is to a certain degree financed by life science companies. The above article concerns a company from which BioStock has received financing.
