Health: After years of waiting, Imagion is really nearly ready for those in-human trials
Health & Biotech
Health & Biotech
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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.
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.
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