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Highlights
- Island Pharmaceuticals raises $3.5M for its dengue fever study.
- Radiopharm Theranostics prepares for a US cancer trial with FDA support.
- Truscreen Group receives recognition in WHO report for cervical cancer screening.
Island Pharmaceuticals (ASX:ILA) has successfully raised $3.5 million through a two-tranche placement, which will be used to advance its phase 2a/b dengue fever study. The capital raise was priced at 7 cents per share, representing a 12% discount, with attached options expiring in either 12 or 24 months. The placement has been supported by key figures in the biotech sector, including Dr. Daniel Tillett from Race Oncology (ASX:RAC) and other significant investors.
Island Pharmaceuticals’ ongoing dengue fever study, known as Protect, includes both preventive and therapeutic approaches, with the results from the prophylactic arm expected by the end of this year. Dengue fever, which affects 400 million people annually, is spreading to new regions due to climate change, including northern Queensland and Florida. With these developments, the company is moving closer to pivotal results in its fight against the mosquito-borne disease.
Radiopharm Theranostics (ASX:RAD) is gearing up for its first-in-human trial in the U.S., targeting multiple tumor types with its B7-H3 radiobody treatment, Betabart. The cancer marker B7-H3, an immune checkpoint molecule overexpressed in several tumor types, is a key target for antibody-based cancer immunotherapy. Radiopharm, in collaboration with MD Anderson Cancer Center, aims to begin a Phase I/II trial in mid-2025.
Radiopharm is advancing rapidly in the nuclear medicine space, combining molecules and isotopes to target and detect cancer biomarkers. With a variety of programs covering cancers such as brain, lung, and breast, the company is poised to make significant strides in the field. Radiopharm recently raised $70 million, ensuring it is well-funded for upcoming challenges.
Meanwhile, Truscreen Group (ASX:TRU) has gained recognition in a report by the World Health Organization’s UNITAID arm. The report highlights Truscreen’s innovative opto-electrical cervical cancer screening device, which uses light frequencies and electrical impedance to assess cervical tissue. Truscreen’s device offers a comfortable and reliable alternative to traditional Pap tests and has been approved for use in multiple countries, including China, Mexico, and Vietnam.
With this international recognition, Truscreen continues to expand its reach in cervical cancer screening, especially in low and middle-income countries where traditional screening methods are less accessible.
