• Starpharma says results on radiodiagnostic candidate encouraging
  • Mach7 Tech rises on multi-million dollar deal
  • Cannabis house Althea announced deal with global powerhouse Canopy Growth


Starpharma’s study results encouraging

Starpharma (ASX:SPL) rose by over 10% this morning after reporting that DEP HER2-zirconium, its radiodiagnostic candidate, has demonstrated imaging benefits in just-completed study results.

DEP HER2-zirconium showed a favourable biodistribution profile, with excellent imaging contrast between tumour and normal tissues. The result also indicated rapid uptake and high levels of tumour accumulation in a HER+ breast cancer model.

The results are very encouraging as they confirm the binding properties of DEP HER2-zirconium, and support a precision medicine approach for cancer patients.

Starpharma is currently developing the DEP HER2-zirconium designed to diagnose, stage, and monitor HER2-positive (HER2+) cancers with improved sensitivity.

“Radiotheranostics and HER2 therapeutics are both rapidly growing categories, with a number of highly successful product launches in recent years,” said Starpharma CEO, Jackie Fairley.

“The application of Starpharma’s DEP technology in the radiotheranostic area presents a substantial opportunity to expand the commercial opportunity for DEP.”

Meanwhile, the company also has a flagship product already in the market called Viraleze, a nasal spray that contains an antimicrobial/anti-infective polylysine dendrimer called SPL7013.

One key advantage of Viraleze nasal spray is its broad-spectrum antiviral activity, which makes it a promising tool for pandemic preparedness strategies or the emergence of as-yet-unknown viruses.

Now read: The Ethical Investor: Why Starpharma and these ASX biotechs could stop the next infectious disease outbreak


Mach7 announces $3.7 million deal

Imaging company Mach 7 Tech (ASX:M7T) also rose 5% this morning after announcing a 5-year subscription licence to provide eUnity to Diagnostic Imaging Associates (DIA).

The contract replaces small use case Client Outlook mammography contract, and is worth $3.7 million in TCV and $0.64 million to Annual Recurring Revenue (ARR).

The deal further is set to expand Mach7’s footprint in the outpatient/teleradiology marketplace.

CEO of Mach7, Mike Lampron, said market research continues to evidence a dynamic shift in where and how patients want to receive healthcare.

He also said that DIA is a large, growing practice that is benefiting from the shift in diagnostic imaging from acute care to ambulatory settings.

“We are delighted to now provide its 70-strong radiologist practice with the full functionality of our zero-footprint eUnity Diagnostic Viewer.”


Althea’s subsidiary signs with cannabis powerhouse

Cannabis company

Althea Group (ASX:AGH) meanwhile climbed 6% after announcing that its subsidiary, Peak Processing, has signed a deal with with Tweed Inc, a subsidiary of Canadian cannabis powerhouse and Nasdaq-listed Canopy Growth.

Under the contract manufacturing agreement, Tweed Inc. agrees to appoint Peak for the manufacturing of cannabis-infused products for sale into the Canadian adult-use cannabis market.

This market is expected to be worth CAD$6.4 billion in 2023, with the cannabis beverage product category representing 2.1%, or approximately CAD$134.4 million.

As a leader in the cannabis beverage category in Canada, Tweed’s portfolio includes iced teas and lemonades that range from 2.5mg to 7.5mg of THC per serving.

In addition, Tweed’s Deep Space brand delivers carbonated high dose beverages each with 10mg of THC.

“Peak is already the pre-eminent industry leader in cannabis beverages, and the agreement with Tweed potentially paves the way to other opportunities for mutual growth,” said Peak managing director, Barry Katzman.


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