EXACT Therapeutics AS and GE Healthcare AS collaboration project has been awarded NOK 16M from the Norwegian Research Council
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 Sonazoid™ 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 with an innovation grant from the Norwegian Research Council (NRC) of NOK 16M to support the development of a ready-to-use formulation of Sonazoid™ 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 Sonazoid™ 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.”
ENDS
For more information, please contact:
Dr Per Walday, CEO
EXACT Therapeutics
Email: Per.walday@exact-tx.com
Dominic Moreland, CFO
EXACT Therapeutics
Email: Dominic@exact-tx.com
About EXACT-Tx
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
About ACT®
• 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.
• 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.
• Initial focus of the Company is oncology, however the ACT® platform has potential across therapeutic areas (infectious diseases, CNS, immunotherapy) and product classes.
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.