Questions and Answers
2cureX is happy to receive a number of questions and comments from our present and from potential future shareholders. With the present Questions & Answers (Q&A) section, we would like to make these questions and their answers publicly available.
Additional questions/comments should be mailed to info@2cureX.com.
2cureX decided to raise funds now as we see a huge interest from customers for functional precision medicine into general hospital practice. 2cureX is strongly positioned for this, through its IP and Clinical Program, the company wants to capitalize on this by bringing IndiTreat to a broader set of markets than first anticipated as well as expanding into new cancer entities beyond Colorectal Cancer such as Pancreatic and Ovarian Cancer. As part of our VISION to become a leader in functional precision medicine, Automation of the IndiTreat test is a key component to make the test broadly available in multiple markets. Automation will allow for decentralization of the IndiTreat test and open for an attractive earning model.
For 2cureX the ambition to capitalize on the market opportunity led us to a preference for a Directed Issue to secure funds in a time- and cost-effective manner for the company. Beyond the increase of capital, the process helps to diversify our investor base and investor dynamics. As part of the directed rights issue it has been very important to ensure that our current shareholders would benefit from this process through the offering of warrants. 2cureX therefore offers its present shareholders warrants, free of charge, allowing to buy shares nine months from now at a discounted price.
2cureX is a commercial market leader focused on the clinical application of 3D drug-response testing of cancer patients. 2cureX builds on an experience with the technology in more than 1000 patients and is currently engaged in two Multinational Clinical Trials that will further strengthen the IndiTreat® competitive profile. With a CE-mark filing in 2018 and strong clinical evidence, 2cureX is aiming to be the leading company within functional drug-response testing.
3D drug-response testing is getting traction in Academia, supporting the value of the technology to identify Individual treatment strategies for cancer patients. 2cureX considers the increased interest by researchers for the use of 3D-cell cultures in cancer therapy design a market driver that will greatly support the commercial success of IndiTreat®.
2cureX has a strong patent portfolio on the method of applying 3D micro-tumors to the design of cancer treatment for the individual patient. The initial generation of 3D micro-tumors from patient tissue is not protected and is conducted by several academic researchers. The more clinical information they create the better it is for 2cureX.
Thank you for pointing out this issue to our attention. We have been in contact with Nordnet and our news distributor (Cision). It turns out that there has been an error in the distribution algorithm. This is very unfortunate. The error is now corrected. So, in the future, you will see the important press releases from 2cureX on Nordnet’s website.
We were very successful with our EU application and received EURO 3 Mill in funding. The funds will be used to support our clinical studies and commercialization of the IndiTreat® test. The funds will directly support the business plan of 2cureX.
None of the mentioned competitors are running clinical trials in colon cancer.
No, IndiTreat is a laboratory test that can tell you which drug treatment that will work in the individual cancer patient and which treatment that will not work. In other words, IndiTreat is analysing a large panel of drugs and combinations thereof, on the Individual patient’s tumor cells in vitro, before treatment is started. Immediately after the test has been performed the patient will be put on the most effective treatment.
An IVD product that is placed on the European market must comply with the CE-IVD directive and carry the CE mark, in case the product lacks the CE-IVD label it will need to be registered as an RUO (Research Only) device and by definition is intended for research use only, and can’t be used for clinical use by physicians. This will impede market barriers in terms of market access and product reimbursement.
The CE-IVD marking is a major milestone for 2cureX as it is required for the IndiTreat® market preparation and the subsequent market launch.
In detail there are 4 reasons why the CE-Certificate for IndiTreat® is such a critical milestone:
a. Med-Tech products in the field of IVD (In Vitro Diagnostics) need to adhere to the CE IVD Directive 98/79/EC, it grants IndiTreat® a CE-IVD certificate that serves as a trade passport for the European marketplace and will allow 2cureX to freely circulate its product throughout the 30 countries of the European Economic Area (EEA).
b. The CE-IVD label serves for med-tech products as a quality stamp, as it means that the organization has processes in place that ensures customers that the product delivers on its product-claims within the Intention for use.
c. The CE-IVD is a pre-requisite for market-access and reimbursement within the EU as well as certain major markets outside the EEA.
d. The CE-IVD certificate for IndiTreat® provides efficiency for launching products in other Tumor entities as there is now only one set of requirements and procedures to comply in terms of designing and manufacturing a product for the entire EEA.
IndiTreat® is being clinical validated in two solid cancers: colorectal and ovarian cancer. It is important to 2cureX that clinical trials are conducted within the different cancer entities where we are launching the product initially. However, we have shown that the technology is applicable to other solid cancers.
The IndiTreat® technology is easy to scale, and one person can run a large number of test in parallel. Setting up the test facility is relatively easy done – it requires access to the 2cureX know-how and patent rights; but is not demanding staff wise. With regard to the setup of test-sites, we have strategically decided that we want to have a presence in all countries where we operate. This will have a very positive effect on the general uptake of the test in the individual countries.
As mentioned above it is not the accuracy of the IndiTreat® test that is 58%, it is its ability, in the tested patient population, to identify an effective treatment. The reasons for it not being higher is that some patients will show resistance or low sensitivity towards all the treatments tested. It is likely that the percentage will go up when we include other types of cancer drugs in the test panel.
This is true for colon cancer on average for the different stages of the disease. For late stage (IV), where the disease has spread to distant organs, most often the liver, the response is significantly lower.
If a patient contacts 2cureX, our medical staff evaluates the contact and refers the patient to one of our partnering hospitals. The hospital will then decide whether the patient could be enrolled in an ongoing clinical trial or is to be tested outside the trials.
Yes, the first patients were enrolled end of October 2017. In February 2018 we had successfully enrolled the first 10 patients.
To prepare for launch, 2cureX has continuously interacted with the target customer segments and mapped their workflow, needs and purchasing pattern. The focus has been on Germany, UK and the Nordics as well as some markets that could be included in the next phase of the launch. 2cureX has also engaged advisors and experts in the field of market access to help optimize the launch strategy.
Yes, 2cureX is in direct contact with key opinion leaders (KOL) at university hospitals, large regional clinics, specialized oncology clinics and diagnostic commercial labs. With several of these clinics 2cureX is in an advanced dialogue regarding implementation of IndiTreat. The customer interactions and dialogue with commercial labs have provided valuable market insights that will benefit the launch.