Curasight caps 2024 with financing push
Reporting the fourth quarter, financing is high on the agenda for danish Curasight. With the prostate cancer study ongoing with uTRACE, the company targets mid 2025 for the start of the first clinical study with the thrapeutics platform uTREAT, in brain cancer. BioStock reached out to CEO Ulrich Krasilnikoff to learn more.
Curasight is a Danish biotech company harnessing the potential of the uPAR target to advance cancer diagnostics and treatment through its theranostics platform. With its lead diagnostic candidate uTRACE and therapeutic candidate uTREAT, the company aims to transform how cancers are detected and managed, offering precision solutions for improved patient outcomes.
Leveraging phase II uTRACE data published in the prestigious European Journal of Nuclear Medicine and Molecular Imaging, aggressive brain cancer (high-grade gliomas, HGG) has been selected as the lead indication for uTREAT. A clinical development plan has been established to expedite this therapeutic candidate, targeting the first patient dosing by mid-2025 – a milestone aimed at securing Proof-of-Concept and paving the way for potential partnerships.
We are well ahead in our planning and look forward to enrolling the first patients in this relatively small study later this year – Ulrich Krasilnikoff, CEO Curasight
Deepening ties to Curium
Meanwhile, the phase II trial of uTRACE in prostate cancer moved forward in the quarter. Despite a slower than anticipated start-up phase, the study completion is still anticipated in 2025 as previously communicated, potentially unlocking yet another milestone payment from partner Curium.
The collaboration with Curium was signed in 2023 and has the potential to deliver up to USD 70 million in milestones plus double-digit royalties upon uTRACE commercialization. The partnership underscores Curasight’s strategic positioning to bring its solutions closer to patients.
In November, the partners entered into an additional collaboration, this time for a global radioisotope supply agreement, ensuring access to non-carrier-added Lutetium-177 for uTREAT. This deal mitigates past supply chain issues with lutetium, a critical component in radiotherapies, enhancing Curasight’s ability to develop its therapeutic platform for brain cancer.
Full focus on financing
With uTREAT advancing toward clinical studies, financing is on top of the agenda. In December, DKK 5,4 million was added through the exercise of the TO2 series warrants. At the end of the year, the cash position was approximately DKK 10 million.
The company has lately ramped up efforts to secure funding and as part of its ongoing business development activities is also in discussions with potential industry collaborators. This push aims to sustain clinical trials and accelerate the development of uTREAT and uTRACE, ensuring a solid financial base to support ambitious goals.
Comments from the CEO
BioStock reached out to Curasight CEO Ulrich Krasilnikoff to learn more.
Entering the new year, the challenging financial climate for biotech companies remains. What does this mean for Curasight?
– The macroeconomic climate is very challenging, but we believe in the strong potential of our platforms to make a difference in the diagnosis and treatment of certain types of cancer. Therefore, we continue to work hard to ensure we attract the funding to allow us to continue our development plans to bring new product options to patients.
In your current push to secure new financing, how confident are you that you will be able to reach a good solution in time to reach the planned start of the uTREAT study?
– We will update the market as soon as we have concrete plans in place concerning funding, and I am confident we will be able to present a robust strategic plan that ensures financing of the company’s development plans in the future.
How would good results in the first clinical study with uTREAT affect your ongoing partnering discussions?
– We have not yet initiated the study with uTREAT in brain cancer but as a data driven company it is important that we gather clinical data for proof of concept with our treatment platform. We are well ahead in our planning and look forward to enrolling the first patients in this relatively small study later this year.
With this report, you close the chapter on 2024. Looking ahead, how would you summarize your expectations and ambitions for Curasight in 2025?
– Looking back I can say that 2024 was a year with strong momentum as we pursued our strategy of developing the therapeutic uTREAT and diagnostic uTRACE platforms in parallel. The clinical study with uTREAT in brain cancer which is slated to start during 2025 will be another important step in delivering on this strategy. We also aim to have our financing in place so that we can continue to develop our platforms while advancing on our mission of providing more accurate diagnosis and more precise treatment options to patients with certain types of cancer.
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.
