Celebrating one year as a listed company, Curasight has no plans on settling in. On the contrary, in their Q3 report, the company talks about further strategic advancements to fully realise the potential of their theranostics technology. Ulrich Krasilnikoff, CEO of Curasight, foresee an interesting news flow that will include several key value inflection points for the year to come.
Danish biotech Curasight has developed a technology that revolves around the uPAR receptor, a known biomarker for cancer aggressiveness. Currently tested in several investigator initiated clinical trials, the company´s PET-tracer uTRACE is being evaluated as a new non-invasive tool for healthcare professionals to localise and assess the aggressiveness of cancer tumours. In the drug candidate uTREAT, the same molecule as used in uTRACE is armed with a short-range radiation therapy, aiming at creating a more accurate and gentle cancer radiotherapy.
Promising results with uTRACE and uTREAT
So far, uTREAT has shown promising preclinical results in brain-, prostate- and colorectal cancer and the primary focus for the company is to develop and make the candidate ready for clinical trials with brain cancer.
Looking at uTRACE, promising results from an investigator-initiated phase II clinical trial in prostate cancer was recently published in the highest ranked scientific journal within nuclear medicine, the Journal of Nuclear Medicine. The study demonstrated a clear correlation between uTRACE and Gleason score, indicating a potential for the candidate to replace a large portion of the invasive biopsies that is used today. With these positive results, Curasight is currently looking into accelerating the development and testing of the candidate in prostate cancer.
Read more about the technology here.
Looking to expand
On top of this, the 2021 Q3 report highlights the company´s continuous work to further expand the current set of indications for both uTRACE and uTREAT, while at the same time looking at strengthening the investor base. One such step was taken in the past quarter, when Arbejdernes Landsbank came on board, acquiring 200,000 TO 1 series warrants from Swedish investment company Eastbridge.
The TO 1 warrants were issued in connection with 2020’s IPO and exercised in mid-October of this year, providing a total of approximately 47.6 MDKK to the company. Curasight is thereby heading towards 2022 with a strong financial position, expecting to deliver an interesting news flow, including a number of key value inflection points in the year to come.
BioStock has talked to Curasight’s CEO Ulrich Krasilnikoff to get his view on the past quarter and what he sees ahead.
First off, you celebrate one year as a listed company. How would you summarise this first year?
– It has been a very exciting and intense year, where Curasight has gone from being an anonymous biotech company to becoming a visible company in the public space within cancer diagnostics and treatment. At the same time, we have got thousands of new shareholders who have expelled us the confidence to invest in Curasight.
– So it is both with great humility and pride that we can say that we had a successful IPO, where the share price has subsequently not at any time been close to the introductory share price. The first year can thus be summed up by the fact that we more or less have followed and fulfilled the plan we laid down before the IPO, both in the development and financial area. So that we are in a very favourable position where we would expect to see the fruits of this work during 2022.
Not long after going public, you are now working on an extension of the strategy and possibly new indications for both uTRACE and uTREAT. Could you comment on the timing of this pipeline expansion?
– We will communicate the expanded strategy during Q1 2022, which is a result of the clinical results that have already been released, including the prostate cancer phase II results with uTRACE, but also based on the expected future results on the ongoing phase II studies which are expected to be published during 2022.
– This, combined with the successful execution of the T0 1 warrants, has put Curasight in a favourable financial position, making us feel obligated to accelerate the development of both uTRACE and uTREAT for the benefit of cancer patients and our shareholders.
You are also looking to strengthening the investor base. What kind of interest have the investment community shown Curasight?
– We seek to strengthen our strategic investor base going forward, as they typically have a long-term investment horizon. In this connection, we see Arbejdernes Landsbank as a leverage to get other institutional investors on board, as it provides security and stability around the company.
– Therefore, I also expect that in 2022 we will see more institutional investors supporting Curasight and the journey we are on.
In the Q3 report, you talk about expecting an interesting news flow going forward. What are the most important milestones to look forward to?
– Over the next 12 months we expect not only the previously described results in brain cancer including results from the investigator-initiated imaging study as well as preclinical efficacy data from the therapeutic study, but also data from two investigator-initiated studies using uTRACE in other cancer indications.
– This means that we have 4 – 5 major value inflection points in relation to the milestones for 2022. The first is results from the phase II clinical study in brain cancer with uTRACE. The second are results from two additional phase II cancer indications with uTRACE. Thirdly, we expect results of the preclinical study of uPAR targeted radionuclide therapy in glioblastoma with uTREAT. And also, we expect to finalize and submit the protocols for the pivotal phase III imaging studies in glioblastoma with uTRACE.
– So, 2022 is going to be a very exciting year for Curasight.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.