Imagion cancer detection technology receives approval in India
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Imagion Biosystems Limited (ASX:IBX), a company dedicated to improving healthcare through the earlier detection of cancer, has been issued patent #320872 from the Government of India Patent Office for the company’s core intellectual property related to detection, measurement and imaging using targeted magnetic nanoparticles.
The newly issued patent adds India to the company’s existing global market coverage which includes Australia, Canada, China, Israel, Japan, Russia, and the US.
Imagion Biosystems is developing a new non-radioactive and safe diagnostic imaging technology.
By combining biotechnology and nanotechnology, the company aims to detect cancer and other diseases earlier and with higher specificity than is currently possible.
Incidence of cancer on the rise in India
The term of the India patent extends to 2030, and with independent research indicating that the number of people receiving a diagnosis of cancer in India is expected to increase from 1.15 million in 2018 to 1.41 million by 2026, this is an extremely important development for Imagion.
Industry data released by the Indian Council of Medical Research (ICMR) has reported that breast cancer and lung cancer make up some of the most common cancers in the country, with nearly 60 per cent of breast cancer patients being diagnosed in late stages.
Underlining the importance of this development in terms of the group’s broader intellectual property portfolio, executive chairman Bob Proulx said, “Sadly, much like the rest of the globe, the incidence of cancer in India, particularly breast cancer, is growing.
‘’In markets like India where diagnoses often only occur in later stages, there is a huge opportunity to impact survival rates.
‘’The ability of our technology to detect cancer earlier, without the use of radiation or invasive procedures fulfils an unmet need in the diagnosis and management of cancer.”
Global market estimated to be $2 billion
Imagion Biosystems’ current focus on diagnostic imaging addresses a $2 billion market worldwide.
This includes breast, prostate, lung and ovarian cancer, which Imagion’s MagSense technology looks to address.
India will become a growing part of the addressable market due to the size of its population and its growth, as well as the development of cancer diagnostic technology in the country, of which MagSense seeks to be a part of.
The second half of 2019 has been a watershed period for Imagion with the company’s technology receiving ‘’breakthrough device’’ designation by the FDA in July, effectively clearing the way to accelerate development.
Such was the importance of the FDA’s decision that Imagion’s shares surged 100% in a matter of days.
Other important developments included the emergence of new data demonstrating the potential imaging utility of its nanoparticles for detecting HER2 breast cancer cells.
This study represented the company’s first reported results demonstrating that the anti-HER2 nanoparticles used in Imagion’s MagSenseTM technology, which provide specific targeting of cancerous cells, may also have potential as an MR imaging contrast agent.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
