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2cureX announces final results regarding 2022 goals


109666 ProInvestorNEWS 19/1 2023 11:57
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2cureX, a company pioneering the use of 3D tumoroids for drug sensitivity prediction in patients with cancer, announced today the final results regarding their 2022 goals. Throughout the year, the company achieved the goal of adding one more product to its portfolio -IndiTreat® Explore, launched in March- and the goal of expanding operations to 20 countries -having added 9 countries in 2022-. A third goal of enrolling 30 hospitals in the early access IGNITE program was revised in November to 20 hospitals. At the end of the year, we surpassed the revised goal by recruiting 24 hospitals.

Expansion of treatment options for 3rd line patients

2cureX launched IndiTreat® mCRC Explore in March, with the aim of expanding the treatment options for late stage mCRC patients. The test is intended to assess the sensitivity of a patient's tumor to drugs that are approved for indications different than mCRC - so called "off-label" use of the drugs -. In the interventional trial TICC1 (finalized in 2021), IndiTreat® identified patients who benefited from treatment with drugs used off-label. Adding to IndiTreat® Start and Extend, 2cureX is now offering a comprehensive portfolio of CE-marked IVD products covering all chemotherapy treatment decisions in metastatic colorectal cancer.

Commercial presence in 20 countries

The company has fulfilled the goal of being present in 20 countries by year-end, which means 9 new countries have been added in 2022 -Poland, Czech Republic, Slovakia, Germany, Israel, Romania, Switzerland, Austria and Iceland. Furthermore, the company changed distribution in Finland to Algol Diagnostics Oy and in Portugal to Werfen. Through this network, IndiTreat has already been presented to more than 140 hospitals across Europe and conversations about its implementation are ongoing.

24 hospitals enrolled in the IGNITE program

IGNITE is a program the company launched in 2021 to accelerate the uptake of IndiTreat® in hospitals across Europe. Hospitals participating in IGNITE get a limited number of patients tested with IndiTreat® at no cost, in exchange for sharing their results at conferences and scientific events. The aim is to facilitate the introduction of the new technology and create a critical mass of users as quickly as possible.

While the announced goal for the year was to have 30 hospitals enrolled in the IGNITE program, following a slow Q3, 2cureX revised it to 20 hospitals. The key reason for the delay was the long and slow internal processes in the hospitals for the reviews and approvals of the contracts. Nevertheless, in Q4 the commercial pipeline moved faster and up to 24 hospitals are now enrolled in the IGNITE program.

Strong progress in a challenging year

"2022 has been a year of very solid progress for 2cureX" says Fernando Andreu, CEO of 2cureX. "In the most challenging environment in decades, when the effects of the covid crisis are still disrupting hospitals and healthcare systems, a war is going on in Europe and an energy crisis has impacted all aspects of our economy, we have achieved most of our goals". And continues: "The broad geographic and hospital coverage we built in a very short period of time is key for pushing the adoption of this new category of precision oncology tools into protocols, guidelines and reimbursement. I am immensely grateful to our team for their commitment and dedication, to our distributors for their continued efforts and to our shareholders for their support even in very tough market conditions".

For more information about 2cureX:

Fernando Andreu, Chief Executive Officer
E-mail: fa@2curex.com
Telephone: +45 2279 5399
www.2curex.com

About 2cureX

2cureX is a leader in cancer drug sensitivity profiling and has developed the IndiTreat® (Individual Treatment) family of tests. Starting from a sample of the patient's tumor, IndiTreat® creates thousands of 3D replicas (tumoroids) and predicts the tumor response to the different drugs available, providing the physician with valuable information to make treatment decisions.

The first three IndiTreat® tests are aimed at optimizing treatment decisions in patients with metastatic colorectal cancer - IndiTreat® Start for first line of therapy, IndiTreat® Extend and Explore for third line. Additional tests are under development to cover other stages of colorectal cancer as well as other gastrointestinal cancers.

According to several reports, the total yearly expenditure in cancer-related In Vitro Diagnostic (IVD) tests exceeds 17.5Bn USD worldwide, from which 2.5 Bn USD are tests directly related to therapy decision making, with a CAGR of 12.7%. Despite this, only one third of all cancer treatments are supported by one of these tests. IndiTreat® aims at filling this gap and making Precision Oncology available to all cancer patients.

The company is listed on Nasdaq First North Growth Market in Stockholm (symbol: "2CUREX").

For more information about 2cureX visit www.2curex.com

Certified Adviser: Redeye AB, +46 8 121 576 90, certifiedadviser@redeye.se


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