Changing the Way We Look at Cancer

Magnetic Resonance Imaging (MRI) is a well-known and accepted medical imaging modality. There are more than 30,000 MRI scanners available around the world. By focusing the development of our imaging agents for use with MRI, we avoid the time and costs of developing a new type of imaging system that would have to compete for space and budget in the hospital. By making our imaging agents work with conventional MRI scanners, we anticipate faster commercial introduction and market uptake/acceptance – and a more attractive proposition for strategic commercial partners.

We will face the same risks associated with new product entry in established and entrenched markets where low-cost ultrasound is ubiquitous despite performance limitations. However, we believe introduction for use with MRI will reduce those risks compared to introducing a new technology. We are not aware of other players trying to address the unmet medical need that we are by molecular imaging and hence expect to benefit from being the first mover and potentially obtain regulatory exclusivity in certain jurisdictions if approved first.

We can now say that the primary objectives of the Phase 1 study have been achieved;
i) there have been no safety issue reported related to the imaging agent, and
ii) the imaging agent has demonstrated feasibility to detect cancer by both MRI and MRX.

We consider this to be a significant accomplishment. We plan to keep the current Phase I study open while we proceed with our plans for the next phase of development. Each new patient adds valuable context that can inform new study design and image interpretability.