ASX Health Stocks: OncoSil rips higher as its device goes live in Spain
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Medical device company, OncoSil Medical (ASX:OSL), surged 40% this morning following the first ever pancreas treatment conducted using its device in Europe.
The procedure was performed at The Hospital Universitario de Fuenlabrada, located in Madrid, Spain.
Hospitals in Spain are permitted to negotiate a departmental budget for a specified number of treatments annually, where procurement for devices (such as OncoSil’s device) is done via a formal tender process.
The OncoSil team have previously fully trained 10 hospital sites in Spain on how to use its device, which is a single-use brachytherapy used to deliver a dose of beta radiation directly into cancerous tissue.
The beta radiation emitted by the device travels a short distance within the tumour tissue, causing direct damage to the cancer cell DNA.
The device already has a CE Mark in Europe and the UK, and received a Breakthrough Device designation in the US.
OncoSil’s CEO, Nigel Lange, said he expected the momentum of OncoSil device sales to continue improving over the course of the current year.
“We look forward to the OncoSil device becoming more accessible to patients throughout Spain and subsequently other European countries, to maximise the benefit from this novel treatment,” he said.
NeuroScientific Biopharma (ASX:NSB) rallied 10% after a successful human study of lead drug, EmtinB.
In the Preclinical Safety and Toxicology Program, EmtinB was shown to be safe with no major adverse effects or toxicology findings reported.
EmtinB doses of up to 100mg/kg/day were shown to be well tolerated among the patients in the toxicology studies.
These results have now given NSB confidence to commence a first-in-human clinical trial, pending an ethical approval expected in May.
NSB’s CEO, Matt Lindlow, said: “This safety data provides clear validation that we have met all requirements of achieving the significant milestone of advancing our novel lead drug candidate EmtinB into the clinical development phase.”
“We’ve been working closely with our clinical development partner Linear Clinical Research to execute on our first-in-human clinical trial in the first half of 2022,” he added.