DexTech Medical AB is planning a new clinical study on multiple myeloma
DexTech announces that OsteoDex´ (ODX) pre-clinical results regarding the effect on multiple myeloma (MM) are so convincing that the company now plans a clinical “proof of concept study” (short study with a limited number of patients). MM is a form of blood cancer starting in plasma cells in the bone marrow and, similar to skeletal metastases in prostate cancer (CRPC), causes breakdown of bone. MM is an incurable cancer for which a number of different drugs are used to slow down the disease. Patients eventually become resistant to existing drugs, that often have severe side effects.
ODX's unique mechanism of action, together with very mild side effects, makes the drug a strong candidate for treatment of MM as well. The company believes that, given MM's market size and ODX's clear potential for the disease, it is of the highest priority to obtain supplementary clinical data.
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).
Although the company's main track is ODX-CRPC, complementary positive ODX-MM results will strengthen the possibilities for a favorable license agreement. The company will not enter into a license agreement that does not reflect ODX's true value. By showing ODX´ potential also against MM, ODX's true value can be estimated and lead to a favorable license agreement. The study will be financed through a private placement.
"- With current ODX data on myeloma, it would be wrong not to proceed with clinical trials. I believe that ODX has the potential to be better than existing myeloma drugs and that positive clinical results together with our CRPC results will verify ODX's great potential as a cancer drug, 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 August 24, 2021.
DexTech Medical AB is a Swedish research company that, based on its technology platform, has developed four drug candidates that are protected by patents. The main candidate is OsteoDex for the treatment of castration-resistant prostate cancer (CRPC) with skeletal metastases. A successful Phase II clinical trial has been conducted with OsteoDex where the result shows high tolerability with mild side effects as well as treatment effect on patients who fail on existing drugs. DexTech's goal is to license the respective drug candidate by the latest phase II study. DexTech Medical AB is listed on the Spotlight Stock Market.