CHOSA Oncology AB receives tax credit of 7.8 mSEK
CHOSA Oncology AB (publ) ("CHOSA" or the "Company") has as expected received the tax credit from the Danish ”Tax Credit Order” of 5.1 mDKK equivalent to 7.8 mSEK. The tax credit is equal to the tax value of the expenses attributable to research and development in the 2022 financial year of Rhovac ApS. The received tax credit is in line with previously communicated assumptions.
CEO Peter Buhl comments: “We are happy to announce that the Danish tax authorities have now refunded the expenses as applied for, used for clinical development. The funds will support CHOSA’s Business development and partnering activities, to ensure that LiPlaCis® and its platinum DRP® biomarker reach cancer patients, providing them with the benefits they need.”
At this year ASCO, CHOSA published successful phase 2b data from a study in metastatic breast cancer. This data is a continuation of the already published data for the platinum DRP’s success in finding platinum responders in lung cancer patients. Cisplatin is a mainstay in many cancer therapies and partakes in many of the most successful new immuno-oncology treatments. Our DRP can be an important partner in providing tomorrow's personal therapy. We are confident in the potential of our products and believe they will significantly impact the fight against cancer.
This disclosure contains information that Chosa Oncology AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 01-12-2023 14:11 CET.
For additional information contact:
Peter Buhl Jensen, CEO
Peter@chosa.bio
+ 45 2160 8922
CHOSA in short
CHOSA Oncology AB is an oncology biotechnology company led by a proven international team with veteran specialists in oncology; drug development; running clinical trials; regulatory expertise; and business development. CHOSA intends to enter into agreements for partnership or sublicensing of iCIP™.
About iCIP™ - LiPlaCis® and DRP®
CHOSA is focused on late-stage clinical development of iCIP™ (LiPlaCis® and its DRP® companion diagnostic together) to which it has worldwide rights. The cisplatin DRP is the only proven test to foresee and thereby select who to treat and who will benefit from cisplatin.
In essence, iCIP™ combines the identification of patients who will benefit from cisplatin treatment with the ability to treat them with higher efficacy and less toxicity.
Breast: We have strong phase 2b data in metastatic breast cancer1, demonstrating that patients selected by the DRP® have 2 times longer progression free survival and the only patients that obtained significant tumor shrinkage (>50% ) were found by the DRP®.
Lung: The cisplatin DRP has previously shown its ability to foresee the value of cisplatin therapy in lung cancer. Cisplatin therapy after surgery is a gold standard that clearly increases lung cancer cure, but not always, and until now the doctors do not know who will benefit from cisplatin and who should have something else. This is where the cisplatin DRP is a potential game changer, especially in new neoadjuvant treatment where immunotherapy obtains high efficacy rates when combined with cisplatin-doublets.
Cisplatin DRP was validated in a blinded retrospective study in two lung cancer patient cohorts receiving cisplatin after surgery to kill remaining tumor cells. Thus, patients with the 10% highest scores had a 3-year survival of 90% whereas the patients with the lowest 10% score had much lower survival with only 40% surviving 3 years2.
- Buhl et al PLOS One doi: 10.1371/journal.pone0194609
- D Nielsen · 2023 — https://doi.org/10.1200/JCO.2023.41.16_suppl.3130
DRP® is a registered trademark of Allarity Therapeutics, Inc., and is used under a license granted to CHOSA.
LiPlaCis is in-licensed from Allarity Therapeutics Ltd (previous Oncology Venture ApS) and LiPlasome Pharma ApS.