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Curasight committed to progressing pipeline

Cirasight works on the financing

Curasight committed to progressing pipeline

4 June, 2024

The partnership with Curium for diagnosis in prostate cancer is advancing and Curasight aims to accelerate the development of the therapeutic platform uTREAT in multiple indications to support its theranostic approach. The company is working hard to secure funding for its clinical plans for uTREAT and according to the company’s interim report for the first quarter results of 2024, hopes to announce news on the financing soon.

Copenhagen-based Curasight started off 2024 by announcing a first milestone payment of USD 500,000 from leading radiopharmaceutical company Curium. Under the partnership, the companies pursue uTRACE as a diagnostic tool in the treatment of prostate cancer.

– Since signing the deal with Curium last year we have advanced rapidly. We were very pleased to already have validated the GMP manufacturing of the finished product, triggering the first milestone in our agreement, says Curasight CEO Ulrich Krasilnikoff.

Next up in the prostate cancer project is a clinical phase II trial. The European Medicines Agency recently accepted the application for this study and the company expects to dose the first patient in the second quarter of this year.

– The start of the study triggers the second milestone payment from Curium, and we hope to be able to present first preliminary results from the study during the second half of 2024.

Positive results in several cancer indications

Curasights theranostic technology revolves around the uPAR protein, a known biomarker of cancer aggressiveness and is aimed at providing better and more targeted diagnosis and treatment of certain cancers. Binding to the uPAR protein, uTRACE provides critical insight into tumour characteristics, while the therapeutic part of the approach, uTREAT, enables precise short-range radiation therapy.

As well as prostate cancer, the company has seen promising results with its uTRACE platform in glioblastoma, neuroendocrine tumours, head-and-neck cancer, non-small cell lung cancer and pancreatic cancer. Using the team’s scientific understanding and preclinical research results, Curasight also believes there is strong potential for the uTREAT platform in a range of different cancers.

Committed to accelerating its therapeutic strategy

During the first quarter, Curasight announced its intention to accelerate development of the uTREAT therapeutic platform and ensure parallel development with the diagnostic platform uTRACE. This includes a phase I/IIa basket trial in the five indications already tested with uTRACE, in previous investigator-initiated phase II studies.

– We believe the theranostic approach using radiopharmaceuticals to both diagnose and treat certain types of cancer has the potential to provide important new solutions to clinicians and patients. By investigating uTRACE in a number of different cancers in a single study, in parallel to our development plans for uTREAT, we can move more rapidly than if we run trials sequentially.

The basket trial is expected to consist of five cohorts of approximately 20 participants in each cohort, one for each indication. With positive results, the next step would be to move into phase IIb/III.

The generated data will also be a key component in the ongoing business development.

– There is currently a lot of focus on radionuclide ligand therapy within oncology, so as well as accelerating the development of our uTREAT and uTRACE platforms, we are also pursuing business development opportunities and intensifying discussions with different players in the field.

Funding announcement expected soon

To fund the accelerated therapeutic strategy Curasight is committed to raising additional capital. In March, the company withdrew plans announced earlier for a rights issue, stating it would instead pursue other funding options.

– The capital market climate is still challenging for biotech companies such as Curasight, which made us withdraw our rights issue and look at ways of injecting capital from other sources than just our current shareholders.

During the first quarter, Curasight had a cash flow of approximately DKK -8,2 million from operating activities. At the end of the period, the cash position was approx. DKK 12 million.

– We are extremely committed to finding a good funding solution, that is beneficial to our shareholders and we look forward to being able to announce progress with regards to alternative funding options soon.

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.

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