The Board of Directors of Phoenix Solutions is pleased to announce that the company has signed an agreement with GE Healthcare AS (Norway) "GE" for supply of ACT® drug product for the upcoming planned clinical trials. CEO Per Sontum; "We are excited to sign this agreement and get GE on board as contract manufacturer of our product. With more than 20 years of experience producing Sonazoid™ and Optison®, GE`s Oslo organisation is the world leading site for the manufacturing of this class of pharmaceuticals.” GE`s General Manager for Norway, Bjørn Fuglaas comments: “We are very pleased that Phoenix has chosen to work with GE for this project, which is in line with the expectations we had when the company was spun out of GE in 2013. This is an area of interest and we believe GE to be uniquely positioned in this field given existing and strong capabilities within production of disperse pharmaceuticals, and microbubbles in particular ”. This will provide Phoenix Solutions with GMP ACT® drug product for clinical trials and ensure a way forward for supply of ACT® for commercialization.
The Board of Directors of Phoenix Solutions is pleased to announce that the company has been awarded a 500 kNoK grant (60 kUSD) from Innovation Norway, through Oslo Cancer Cluster`s Oncology Innovation Call 2017. The grant is awarded to co-fund the project: “Development and Validation of a Clinical Platform for Acoustic Cluster Therapy (ACT®)”, a collaboration between Phoenix, Humanscan Co., Ltd. (KR) and Translational Genomics Research Institute (TGen) (US). Humanscan is a leading manufacturer of speciality ultrasound probes and will develop clinically applicable hardware, optimised to the needs of ACT®. TGen is a world leading institute for development of novel therapeutic regimes for treatment of pancreatic cancer, and will contribute with validation of the clinical platform in their state of the art pre-clinical models. CEO Per Sontum; "We are very pleased to receive this grant which will enable us to develop and validate an optimal ultrasound platform for clinical use of ACT®. In their respective fields, Humanscan and TGen both represent the cutting edge of science, and we are confident this will contribute to the clinical success of our program”. Humanscan CEO Sungmin Rhim; “We are excited to enter into this collaboration with Phoenix and participate in the development of ACT®. Ultrasound mediated, targeted drug delivery is an emerging therapy approach with great potential and we are delighted to be in the forefront of this development”. Prof. Haiyong Han (TGen); “We are pleased that this program becomes a reality and look forward to working with ACT®; the concept represents a novel approach to targeted drug delivery and looks very promising. TGen will contribute to this development with further, clinically relevant, pre-clinical validation”.
About TGen: Translational Genomics Research Institute (TGen) is a non-profit research institute with a major focus on development of new therapies for patients with pancreatic ductal adenocarcinoma (PDAC). The TGen team led the clinical development of one of the current standard of care regimens for this disease - the nab-paclitaxel + gemcitabine combination regimen, and they are currently involved in 13 clinical programs relevant to pancreatic cancer. TGen has also established a number of models for pancreatic cancer including patient derived xenograft (PDX) and KPC models, shown to closely recapitulate the human PDAC.
About Humanscan Co: Humanscan Co., Ltd is focused on development of innovative ultrasound transducers. They have a unique expertise within single crystal probes and was the first company to mass produce this class of transducers.
Phoenix Solutions is a Norwegian biotech company sprung out from GE Healthcare in 2013, currently developing a technology platform for targeted drug delivery – Acoustic Cluster Therapy (ACT®). ACT® is a unique approach to ultrasound mediated, targeted drug delivery – capable of enhancing significantly the clinical utility of a wide range of therapeutic molecules and nano-drugs for a wide range of clinical indications. Its primary mode of action is in defeating the vascular barrier, enhancing extravasation, distribution and uptake of drug in the targeted tissue, thereby increasing efficacy and/or reducing toxicity.
ACT® is generally indicated towards diseases where current clinical practice treats known, localized pathologies (e.g. solid tumours) with medicinal therapy, and where Standard of Care is being limited from an inability to deliver sufficiently high concentrations of drug to the tumour without excessive systemic toxicity. Phoenix is currently targeting the oncology segment, looking in particular at pancreatic, liver, triple negative breast and prostate cancers, and has extremely promising preclinical results so far.
The Board of Directors of Phoenix Solutions is pleased to announce that Hans Henrik Klouman (Master of Law) has been elected to the company BoD. Klouman is currently General Counsel and Senior Vice President of Statoil ASA and on the board of several companies primarily within the financial and energy industry. Klouman combines a broad legal background with deep business knowledge and international experience and have held various executive and board positions within the financial and energy sectors since he started practicing law in 1987. CEO Per Sontum; "We are very pleased to get Hans Henrik on-board with the rest of the team. With his vast legal and international business experience he will become an invaluable resource in the further development of the company”.
The Board of Directors of Phoenix Solutions is pleased to announce that the company has completed a series B financing led by current shareholder, Investinor AS and an expanded group of healthcare angel investors. CEO Per Sontum; "We are very pleased to announce this second round of financing which, including the recently awarded BIA program from RCN, will give us the ability to meet a key developmental milestone; start of a clinical phase I/IIa program for treatment of non-resectable pancreatic cancer in 2018".
The Board of Directors of Phoenix Solutions is pleased to announce that Jean-Claude Provost (MD) has been elected to the company BoD. Provost is currently Global Head of Imaging R&D at GE Healthcare Life Sciences. CEO Per Sontum; "We are very pleased to get Jean-Claude on-board with the rest of the team. With his 25+ years’ experience from Clinical Research and R&D management he will add invaluable skill sets to the further development of ACT®.
CEO Per Sontum is pleased to announce that the company has been granted this significant award under the RCN BIA call; "This funding will enable us to push on with our project to fight pancreatic cancer and meet a key developmental milestone; execution of a clinical phase I/IIa program from mid-2018".
The Board of Directors of Phoenix Solutions is pleased to announce that the company has completed a series A financing led by a small group of healthcare angel investors. CEO Per Sontum; "We are very pleased to announce this first round of financing. This funding will give us the ability to reach a key developmental milestone for our preclinical work in pancreatic cancer ".
Park, K.: Acoustic Cluster Therapy for better treatment of solid tumors, Journal of Controlled Release, Volume 236, 28 August 2016, Page 117.
Van Wamel et al.: Acoustic Cluster Therapy (ACT) enhances the therapeutic efficacy of paclitaxel and Abraxane® for treatment of human prostate adenocarcinoma in mice, Journal of Controlled Release, Volume 236, 28 August 2016, Pages 15-21.
Van Wamel et al.: Acoustic Cluster Therapy (ACT) - pre-clinical proof of principle for local drug delivery and enhanced uptake. Journal of Controlled Release, Volume 224, 28 February 2016, Pages 158-164.