Nanospectra Biosciences Provides Corporate Update
HOUSTON, March 28, 2018 /PRNewswire/ -- Nanospectra Biosciences, Inc., a medical device company pioneering a novel use of nanomedicine for selective thermal ablation, provides an update on notable accomplishments and its corporate priorities for 2018.
"In 2017, we focused on moving AuroLase®, the company's lead product candidate, forward in the clinic. In parallel, we strengthened key corporate partnerships that will lead to long term royalties and manufacturing revenues, and we built an experienced team to take us to the next level," commented David Jorden, CEO of Nanospectra. "We look forward to a year of delivering on our objectives."
2017 and Early 2018 Highlights
- Enrolled the 14th subject at Mount Sinai, the initial clinical site in our pioneering feasibility study entitled "MRI/US Fusion Imaging and Biopsy in Combination with Nanoparticle Directed Focal Therapy for Ablation of Prostate Tissue" (NCT02680535).
- Initiated our second clinical trial site at University of Michigan in the fourth quarter of 2017 with six subjects treated to date.
- Clinical outcomes to date remain encouraging and include no substantive adverse effects on patient quality of life. Initial results from the first nine patients were presented at the 2018 Society of Interventional Radiology Annual Meeting on March 21, 2018 in a presentation entitled "MR/US Fusion Guided Ultra-Focal Gold Nanoparticle Directed Photothermal Ablation of Prostate Gland Tumors: Results in Nine Patients (Phase II Trial)".
- Additional results to be submitted for publication and presented at the American Urological Association annual meeting in May 2018.
- Strengthened two key commercial partnerships to generate early revenue streams, further validate the technology, and extend therapeutic indications of our proprietary nanoshells.
- Executed an exclusive commercialization partnership with Companion Animal Health, a division of LiteCure, LLC, for the use of nanoshells in veterinary medicine, initially for the ablative treatment of solid tumors and surface lesions in dogs and cats. Interest among veterinary specialists appears strong based on the presentation of initial clinical study data at the 2017 Annual Conference of the Veterinary Cancer Society. Also an investor in Nanospectra, LiteCure anticipates product launch in 2018.
- Sebacia, Inc. remains an exclusive licensee of Nanospectra intellectual property for the use of proprietary microparticles in the treatment of moderate to severe acne. The product is CE Marked in Europe and under evaluation in a pivotal clinical study in the US.
- Enhanced the leadership team with the addition of depth and breadth of expertise to move the company toward product approval and commercialization. David Jorden transitioned to the role of Chief Executive Officer (from interim CEO) and two new members were added to the Board of Directors. New board members are Blair Shamel who brings 30 years of sales, marketing and commercialization experience within the urology and prostate cancer specialties and Brian Pryor, PhD, CEO and co-founder of LiteCure, LLC, developer and manufacturer of FDA-cleared laser products for a variety of medical and veterinary applications.
"Nanospectra made significant strides in 2017 by advancing AuroLase Therapy for prostate cancer in the clinic and laying the groundwork for additional prestigious clinical trial sites in 2018," said Pat Pace, Chairman, Nanospectra Biosciences. "The quality of these clinical sites is testament to the unmet need for prostate cancer ultra focal tissue ablation therapy, which results in significantly fewer side effects and returns the patient to a normal lifestyle more quickly than traditional therapies."
Having laid a solid foundation in 2017, Nanospectra is well positioned for continued progress in 2018. The company expects to continue a rolling close of an existing Series B funding round through the first half of the year. In addition, Nanospectra plans to bring on additional, high profile clinical trial sites for the completion of its current feasibility clinical trial and the subsequent initiation of a pivotal study.
About Nanospectra Biosciences
Nanospectra Biosciences is a privately-held medical device company, pioneering the patient-centric use of nanomedicine for selective thermal ablation. AuroLase®, the company's lead product, is the first ultra focal therapy for prostate cancer. Nanospectra's ultra focal approach maximizes treatment efficacy while minimizing side effects associated with current treatments, including surgery, radiation, and traditional focal therapies. Implementing a multi-prong growth strategy, Nanospectra is focusing on clinical advancements, exclusive partnering agreements and ongoing research and development. Nanospectra's technology development has been funded to date by a series of grants, private equity investments and corporate partnerships.
For more information visit http://www.nanospectra.com.
CONTACT: Joleen Schultz, Joleen@joleenschultzassociates.com, Cell: 760-271-8150
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SOURCE Nanospectra Biosciences