ACCESS Newswire
01 Dec 2021, 12:25 GMT+10
UPPSALA, SE / ACCESSWIRE / December 1, 2021 / Biovica International (STO:BIOVIC-B)(STO:BIOVIC.B)(FRA:9II)
Significant events during the second quarter
Significant events after the end of the period
Audiocast:
When: 1 December 2021 at 3 PM CET
Where: https://tv.streamfabriken.com/biovica-international-q2-2021-2022
Phone numbers: SE: +46850558350, DK: +4578150109, UK: +443333009031, US: +16467224904
Broadcast language: in English
CEO's comments
For Biovica, there was much focus during the second quarter on the dialog with the US Food and Drug Administration (FDA). Communication with them has been positive, but the FDA is still struggling to cope with its high workload stemming from the COVID-19 pandemic, which has made it difficult for them to stick to their regular processing time.
In mid-September we announced that we are still waiting for feedback from the FDA in order to be able to submit our updated 510(k) application. The status as of the end of November is that we are still waiting for feedback from the FDA.
It will be possible to launch DiviTum®TKa in the USA once 510(k) approval has been obtained, which we are not expecting before the end of the year. In parallel with that, we are working with the launch in Europe, which is expected to occur after approval and launch in the USA.
One of Biovica's strengths is all of the positive results from clinical trials using the assay. At the world-leading San Antonio Breast Cancer Symposium (SABCS), which will take place during 7-10 December, positive results from studies with DiviTum®TKa will once again be presented. This year, the results from two studies will be presented. One is the clinical study, PROMISE (NCT03281902) performed at the Mayo Clinic and the other is from a collaboration with Carrick Therapeutics.
Researchers involved in the PROMISE study have concluded that TK activity (TKa) prior to treatment with CDK4/6 inhibitor for patients with hormone receptor positive metastatic breast cancer is associated with progression free survival. Concluding that DiviTum®TKa has prognostic value when treating breast cancer patients is an important validation of our test as a potential standard tool for evaluation of the treatment effect on metastatic breast cancer.
Carrick Therapeutics is a pharmaceutical company which, among other things, develops a next generation CDK7 inhibitor, samuraciclib. It is a very interesting pharmaceutical candidate, which has also received Fast Track status from the FDA. Carrick has reached out to Biovica in order to investigate whether DiviTum®TKa could complement their own drug development efforts. Carrick presented the first results of our collaboration at SABCS 2021, showing that, for patients with triple negative breast cancer (TNBC), DiviTum®TKa is able to monitor samuraciclib treatment and is thus useful for monitoring of next generation CDK inhibitors.
It is truly satisfying that more and more pharmaceutical companies are recognizing the value of DiviTum®TKa as they pursue their drug development efforts. Of late, we have noticed an increasing demand for DiviTum®TKa from pharmaceutical companies that develop next generation CDK inhibitors. The next step is to establish more in-depth companion diagnostic (CDx) collaborations, which involves using a diagnostic test as a companion to a therapeutic drug in order to determine its suitability for specific patients.
During the quarter, we also announced that DiviTum®TKa results from an analysis of samples from the large SWOG S0226 study were published in the highly ranked scientific journal, Clinical Cancer Research, which is issued by the American Association for Cancer Research (AACR). The strong results support use of DiviTum®TKa as a tool for monitoring disease progression with endocrine therapy in women with hormone receptor positive metastatic breast cancer and publication in this journal represents important validation of DiviTum®TKa's importance and value.
Promising DiviTum®TKa results from the Novartis BioItaLEE study (287 patients) were also presented at the European Society for Medical Oncology (ESMO) conference during 16-21 September. The results strengthen the potential of DiviTum®TKa as a prognostic, predictive and monitoring biomarker for treatment with the CDK4/6 inhibitor ribociclib from Novartis. It is very promising to see that the results are consistent with prior DiviTum®TKa results with CDK4/6 inhibitor palbociclib from Pfizer.
Washington University in St. Louis has initiated a prospective clinical study aimed at evaluating the clinical utility of DiviTum®TKa for monitoring patients with metastatic breast cancer. It is expected that this study will provide important information on the advantages that DiviTum®TKa offers compared to monitoring using imaging diagnostics and we are looking forward to those results.
One of the most essential cornerstones of a successful commercialization of DiviTum®TKa in the USA is reimbursement from payers. With this in mind, we have created a budget impact model based on DiviTum®TKa's positive clinical results in order to clarify the health economic benefits associated with its use.
The model was presented at the ISPOR conference, and it will now also be presented at SABCS, along with having been published in the Journal of Medical Economics.
The results from this study show that adding DiviTum®TKa to the care regime could offer a net reduction in costs of up to three times its price.
In conjunction with that, we have grown the organization in both Sweden and the USA. During the quarter, we recruited Warren Cresswell as President of the Americas.
He has 25 years of experience in the diagnostics industry, bringing with him an extensive network and valuable knowledge of the US reimbursement system. With Warren at the helm in the USA, I am convinced that we will succeed with our launch.
Contact
Anders Rylander, CEO
Phone: +46-18-444 48 35
E-mail: [email protected]
Cecilia Driving, EVP CFO
Phone +46-73-125 92 47
E-mail: [email protected]
Biovica - Treatment decisions with greater confidence
Biovica develops and commercializes blood-based biomarker assays to evaluate efficacy of cancer treatments. Biovica's assay DiviTum® measure cell proliferation by detecting a biomarker in the blood stream. The assay has successfully demonstrated its capabilities to early evaluate therapy effectiveness in several clinical trials. The first application for DiviTum is monitoring of treatment for patients with metastatic breast cancer. Biovica's vision is that all cancer patients will get an optimal treatment from day one. Biovica collaborates with world-leading cancer institutes and pharmaceutical companies. DiviTum is CE-marked and registered with the Swedish Medical Products Agency. Biovica's shares are traded on the Nasdaq First North Growth Market (BIOVIC B). FNCA Sweden AB is the company's Certified Adviser, [email protected], +46 8 528 00 399. For more information please visit: www.biovica.com.
This information is information that Biovica International is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-12-01 07:30 CET.
Attachments
SOURCE: Biovica International
Get a daily dose of Albuquerque Express news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Albuquerque Express.
More InformationWASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...