Stockhead first wrote about imaging medtech company Imagion Biosystems’ (ASX:IBX) plan to run human trials of its nanoparticle therapy for cancer treatment in 2017.

That was when it struck a deal with Dutch nanoparticle maker ChemConnection.

It has been making slow progress towards that goal ever since, optimising the nanoparticle formulation in 2018 and launching toxicology studies in early 2019.

  • Scroll down for the ASX’s other health movements today.

The company is now a smidge closer, having received the results from those toxicology studies and reporting them to the market today.

It showed the formulation was safe. The data will be used to support filings with regulatory and clinical authorities and help it move on to first-in-human testing.

Shares rose 50 per cent to 3.6c on the news, well short of the 8c highs back when the formulation was optimised last year.

“While we fully expected this outcome, it is good to have this hard evidence in hand,” chairman Bob Proulx told investors. “The assessment of toxicological safety of our nanoparticle formulation is a big derisking step. We will be breaking new ground in medical imaging bringing a targeted bio-safe iron oxide nanoparticle to first-in-human studies.”

The company says first-in-human studies will happen in 2020, with clinical studies in 2022.

Imagion’s MagSense technology uses advanced magnetic sensors that can locate tumours in their early stages of development.

It then deploys tiny nanoparticles — one billionth of a metre — to specifically highlight cancerous cells that are picked up by the sensor.

The nanoparticles are injected intravenously and left to circulate around the body where they “tag” cancerous cells early in their life cycle.
 

In other ASX health, food and agriculture news today

Noxopharm (ASX:NOX) expands trial. Noxopharm’s LuPIN trial, testing its drug Veyonda combined with a peptide in men with late stage metastatic castration-resistant prostate cancer, will recruit an additional 24 patients after early data from the trial proved positive. Patients who received 400mg and 800mg dosages responded well, and the next cohort will receive 1,200mg doses. NOX shares rose 7 per cent to 63c.
 
South African food company using Secos Group’s (ASX:SES) products. Superior Packaging successfully developed food produce bags using Secos’ technology. The new range of environmental products commonly used in the delivery of food products, including grape bags and other fruit box liner products, replaces single use plastics for food handling. SES shares got a small hit, up 2pc to 5c.
 
Webster (ASX:WBA) reports half-year results. The agriculture group saw a 163 per cent boost in revenue, up to $53.4 million, though profit on those sales was only $4.3 million thanks to large sales cost. Overall profit fell 44 per cent to $2.1 million. Shares in the company suffered, falling 3pc to $1.56.

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