Oncoinvent (ONCIN) TD Cowen 45th Annual Healthcare Conference summary

Key product and technology highlights

• Focus on radiopharmaceuticals using alpha emitters for oncology, with a unique mode of action distinct from classical radioligands.

• Radspherin, a radium-224 labeled microparticle, is administered directly into the peritoneum post-surgery to target micrometastases.

• The product is a milk-like fluid with an 8-day shelf life, enabling centralized manufacturing and global distribution.

• Alpha particles' short range ensures high potency against cancer cells while sparing healthy tissue, resulting in a favorable safety profile.

• The technology leverages the closed compartment nature of the peritoneum, allowing localized treatment and minimal systemic toxicity.

Clinical development and trial results

• Phase 1/2a data in colorectal cancer show a recurrence rate of 15% with Radspherin versus 50% in historical controls at 18 months.

• Ovarian cancer trial interim results show 10% recurrence with Radspherin compared to 25% in historical controls at 12 months.

• Radspherin is well tolerated, with only two serious adverse events possibly related to the drug and no evidence of systemic radiation toxicity.

• Ongoing phase II ovarian cancer trial has completed safety run-in and will expand to a randomized cohort of 90 patients.

• Final data readouts for key trials are expected in 2024 and 2025, with expansion of study sites underway.

Market positioning and competitive landscape

• Radspherin can be added to standard of care without altering existing treatment protocols, simplifying adoption.

• The approach is receptor-independent, making it applicable to peritoneal metastases from various primary tumors.

• There is limited competition in the peritoneal metastasis space, with most industry focus on other cancer types.

• The market potential is significant, with an estimated 65,000 treatable patients annually in Europe and the US for ovarian and colorectal cancers.

• The company’s management and board have a proven track record in alpha radiopharmaceuticals, including prior successful exits.