DexTech Medical AB confirms very positive results from myeloma studies
At the beginning of the year, the company announced positive results from initial in vitro studies regarding OsteoDex (ODX) effect on multiple myeloma (MM). MM is a form of blood cancer that develops in the bone marrow and at the same time causes the skeleton to break down. The disease is not curable, but a number of different treatments are used to slow down the process. Common to the treatments is that these often give severe side effects. ODX mechanism of action, i.e., Inhibition of bone-degrading bone cells (osteoclasts) and tumor cell toxicity, together with very mild side effects, appear to be ideal properties for the treatment of MM. The positive results have now been confirmed in extended in vitro studies and show a strong tumor cell inhibitory effect of ODX, up to 10 times stronger effect compared to CRPC cells. We are now moving forward with in vivo studies within the framework of our budget.
The company believes that, given MM's market size and ODX's potential against the disease, it is of the highest priority to obtain supplementary / confirmatory in vivo data. Such data will, of course, have a positive impact on an ODX-CRPC license transaction. The global market size for MM in 2018 was USD 19.5 billion and is expected to grow to USD 31 billion in 2026 (https://www.fortunebusinessinsights.com/ multiple-myeloma-market-102693), which is more than double the market size for CRPC. Complementary positive ODX-MM results thus strengthen the possibilities for a favorable license agreement. In fact, the value of ODX as a potential cancer drug is doubling.
Licensing discussions are ongoing and include both platform technology and ODX specifically, both against CRPC and other cancers.
"- Myeloma results are very important for our business opportunities and will be further developed. The strategy increases our opportunities for a strong licensing deal for OsteoDex, even with the large hematology companies. I believe that the strategy will be very profitable for the company, says CEO Anders R Holmberg ”.
For further information
Gösta Lundgren - CFO & Investor Relations
DexTech Medical AB
Phone: +46 (0) 707104788
E-mail: gosta.lundgren@dextechmedical.com
This information is information that DexTech Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, through the agency of the above contact person, for publication on May 10, 2021.