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EXTX: A collaboration project between EXACT Therapeutics AS and GE Healthcare AS has been awarded NOK 16M for the development of a ready-to-use formulation of SonazoidTM for ultrasound imaging and therapy from the Norwegian Research Council.
OSLO/LONDON: 23 June 2022: EXACT Therapeutics AS ("EXACT-Tx" or "the Company",
Euronext Growth: EXTX), a clinical-stage precision health company developing the
Acoustic Cluster Therapy (ACT®), a proprietary ultrasound-mediated drug delivery
platform to enhance the efficacy of therapies across multiple diseases, today
announces that its collaboration partner GE Healthcare has been awarded an
innovation grant from the Norwegian Research Council (NRC) of NOK 16M to support
the development of a ready-to-use formulation of SonazoidTM for ultrasound
imaging and therapy.
The funding will support the development, the documentation and the regulatory
approval of a non-lyophilised and ready-to-use liquid formulation of SonazoidTM
for ultrasound imaging, and regulatory approval for its use in ACT® clinical
trials. Academic groups Prof. Catharina de Lange Davies from the Norwegian
University of Science and Technology (NTNU, long term collaborator of EXACT-Tx)
and the French National Institute for Health and Medical Research (Lyon), are
also involved in the collaboration.
Dr Sigrid Fossheim, Global Product Leader Ultrasound, GE Healthcare AS
commented: "Removing the lyophilisation - or freeze drying - process aims to
help increase manufacturing capacity for Sonazoid, and this innovation grant is
a significant milestone in our ambition to grow utilization of the product."
Dr Per Walday, Chief Executive Officer, EXACT-Tx, commented: "We are very
pleased with the award of this NRC grant, which brings a range of improvements
and strengthens our partnership with GE Healthcare and supports an important
part of the path to successful commercialisation of our PS101 product."
For more information, please contact:
Dr Per Walday
CEO EXACT Therapeutics
CFO EXACT Therapeutics
EXACT Therapeutics ("EXACT-Tx") is a clinical-stage biopharmaceutical company
with a mission to enhance the therapeutic efficacy of medicines with its novel
ultrasound-mediated drug delivery technology platform called Acoustic Cluster
Therapy (ACT®). The proprietary ACT® formulation of microclusters (PS101) is
activated by ultrasound for enhanced drug targeting deployed in multiple
indications to enhance the therapeutic efficacy of medicines for patients across
multiple diseases. www.exact-tx.com
o ACT® is a proprietary formulation consisting of microbubbles and microdroplets
that are activated through the application of ultrasound with the consequent
increase in targeted delivery of a co-administered therapeutic agent.
o ACT® is supported by a strong and broad preclinical package demonstrating
therapeutic enhancement in multiple oncology models (pancreatic, breast, colon,
prostate) as well as blood-brain barrier penetration.
o Initial focus of the Company is oncology, however the ACT® platform has
potential across therapeutic areas (infectious diseases, CNS, immunotherapy) and
Forward looking statements
This announcement and any materials distributed in connection with this
announcement may contain certain forward-looking statements. By their nature,
forward-looking statements involve risk and uncertainty because they reflect the
Company's current expectations and assumptions as to future events and
circumstances that may not prove accurate. A number of material factors could
cause actual results and developments to differ materially from those expressed
or implied by this forward-looking statement.