Ultimovacs enters the Oslo Stock Exchange

Ultimovacs enters stock exchange

Oslo Cancer Cluster member Ultimovacs, a Norwegian cancer vaccine company, has raised NOK 370 million and entered the Oslo Stock Exchange on Monday 3 June 2019.

There was a stir of interest among both national and international investors when Ultimovacs announced they will enter the Oslo Stock Exchange. Several interested parties have now become shareholders in the company, totalling approximately 1 500 shareholders.

“It is good for the Norwegian health industry and for Ultimovacs when national and international investors show the company this kind of trust. In today’s uncertain market, it is especially nice with such a large interest, from both international investors and small savers. I look forward to following the company further,” says Jonas Einarsson, Chairman of the Board in Ultimovacs and Managing Director in Radforsk.

The funds that Ultimovacs has raised will go to financing the development of their universal cancer vaccine, UV1. A large clinical study will document the effect of the vaccine. UV1 will be combined with other immunotherapies in patients with malignant melanoma (a type of skin cancer) at around 30 hospitals in Norway, Europe, USA and Australia.

Ultimovacs has already run two successful clinical trials of the vaccine on patients with lung cancer, prostate cancer and malignant melanoma.

“The cancer vaccine has shown promise in the studies we have conducted at the Norwegian Radium Hospital. Based on the results, we have established a development programme to document that our vaccine has effect on cancer patients. I am very happy that we now have entered the Oslo Stock Exchange. It means that the practical conditions are in place to put our development programme into action,” said Øyvind Kongstun Arnesen, Chief Executive Officer in Ultimovacs.

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Photo: Nordic Nanovector

A successful first quarter for Nordic Nanovector

Nordic Nanovector raises NOK 225 million in private placements, begins phase II clinical trials in 74 sites in 23 countries and prepares to commercialize the company. These were some of the good news presented in the first quarter 2019 report.

Oslo Cancer Cluster’s member company Nordic Nanovector develops precision medicine against haematological cancers. These are the types of cancers affecting blood, bone marrow and lymph nodes – also known as leukaemia, lymphoma and myeloma. These cancers are notoriously difficult to treat and therefore have a highly unmet medical need.

On the morning of 23 May 2019, the CEO of Nordic Nanovector, Eduardo Bravo, presented some of the successes the company has had during the first quarter of 2019.

“As we advance the clinical development programmes with Betalutin, including PARADIGME, we are also beginning to initiate some of the other pre-commercialisation activities, such as manufacturing, that are crucial to ensure that we can submit our regulatory filing in a timely and efficient manner.”

The company’s highlights from the first quarter included raising approximately NOK 225 million in private placements.

They have also extended their clinical trials, known as the PARADIGME study, which address advanced, recurring follicular lymphoma. They now have phase II clinical trials in over 74 sites in 23 countries.

During the first quarter, Nordic Nanovector has also welcomed a new chairman to the Board of Directors – Jan H. Egberts, M.D. He is also the chairperson of the Board of Directors of Oslo Cancer Cluster member Photocure.

Lastly, Dr Mark Wright has been appointed Head of Manufacturing to lead the production of Nordic Nanovector’s therapies. This prepares Nordic Nanovector for future commercialisation and will hopefully lead to more precise treatments successfully reaching cancer patients.

 

Biobank Norway coordinates Norwegian biobanks with the health industry to ensure that the valuable biosamples are used to develop new, breakthrough treatments.

How will biobanks accelerate cancer research?

Biobanks ­– the powerful tools in cancer research you may have never heard of.

 

Biobank Norway is a national research infrastructure that comprises all public biobanks in Norway and represents one of the world’s largest existing resources within biobanking. They are also a member of Oslo Cancer Cluster, through NTNU, and represent an exciting initiative in the endeavour to develop precision medicine.

 

A biobank is a storage facility that keeps biological samples to be used for medical research. The samples come from population-based or clinical studies.

 

Christian Jonasson, seniorforsker ved NTNU.

Christian Jonasson, seniorforsker ved NTNU.

Christian Jonasson, the Industry Coordinator for Biobank Norway, connects businesses with Norwegian biobanks to accelerate medical research. He said that more biobanks now work with the health industry and benefit from added value in the process.

“It is the health industry that will ultimately bring new therapies to patients.”
Christian Jonasson

Biobank Norway has developed several strategic areas for Norwegian biobanks. They have built automated freezers for secure long-term storage, with advanced robotised systems that can retrieve barcoded biological samples. They have initiated new biobanks, established new IT systems and also developed policies for public-private collaborations. Also, they have contributed to strategic processes that promote increased utilization of Norwegian health data, including the national Health Data Program.

Ultimately, Biobank Norway aims to facilitate collaborations between the global health industry and Norwegian biobanks to accelerate innovation in the life sciences, disease prevention and treatment.

“Biobanks are one of the most important tools in precision medicine.” Christian Jonasson

 

Biosamples may be used for important, life-saving cancer research. For example, to develop new immunotherapies, such as T cell therapy. Photograph by Christopher Olssøn

 

A competitive edge

Norway has been collecting biological samples for the last 30-40 years. For example, one of the world’s largest birth cohort studies, the Mother and Child study (called MoBa) was initiated in 1999. It included 100 000 newborns with mother and father, which totalled over 285 000 participants over a ten-year period. There are numerous other Norwegian health studies, which have involved hundreds of thousands of people, such as the HUNT study and the Tromsø study.

Moreover, the Norwegian Radium Hospital have collected countless valuable samples from cancer patients over the years from both regular clinical care and from clinical research studies. Hospitals across Norway also continually collect and save diagnostic samples, which may be used for medical research at a later stage.

The number of biobanks and the rigorous collection of clinical data in health registers in Norway represent unique assets for medical researchers.

“Norway has a competitive edge on its health data infrastructure.” Christian Jonasson

 

Sharing the data

However, Jonasson also points out that the health registers in Norway are too fragmented. To combat the problem, Biobank Norway are helping the Norwegian Directorate of eHealth to develop a Health Data Program. The digital platform, called the Health Analytics Platform (HAP), will collate copies of relevant data from the various health registers, providing a single point of easy access for researchers.

Biobank Norway also has a long-term vision to collect all biobank data and health data in a common platform. This is a necessary step to unleash a larger national precision medicine initiative. First, they want to organise the data from the four largest population-based cohort studies in one place. In a couple of years, this database would hopefully include 400 000 people, which is a very attractive cohort for medical research.

“We need to attract leading actors from the international health industry and Norwegian start-ups in real collaborations with biobanks.” Christian Jonasson

Important medical research is already being conducted in biobanks across Norway. Jonasson said that there now needs to be a plan to market Norwegian health data and biobanks internationally to spur innovation further.

 

Biosamples are also used for sequencing of the human genome, to develop more precise diagnosis and treatment of cancer.

 

The hidden key

To unlock the potential of biobanks, the biological samples need to be analysed and converted into meaningful data, which can be an expensive and laborious process.

Finland, for example, has begun to collect biological samples from 500 000 individuals. One single database holds all phenotypic data, such as diagnosis and treatment, and all genotypic data, which is the mapping of the human genome.

In the UK, there is the Genomics Project, which has already sequenced the DNA (the coded parts of the human genome) of 100 000 patients. The UK Biobank are aiming to sequence the DNA of half a million brits.

Jonasson hopes that such ambitious initiatives will be imported to Norway to build the biobank infrastructure further and provide meaningful data for medical research. He adds that public-private collaborations will be key to drive and fund such large scale initiatives.

Biobank Norway is currently in the process of extending into its third phase and aims to continue to improve the biobanks, the partner institutions and global research collaborations in the future.

 

  • Do you need help with your research and innovation project using biobanks in Norway?
    E-mail Christian Jonasson.
  • For more information, please visit the official website of BioBank Norway.

 

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Anette Weyergang demonstrated the PCI technology to the Norwegian Prime Minister Erna Solberg during her visit to Oslo Cancer Cluster Innovation Park.

Radforsk to invest NOK 4.5 million in cancer research

Radforsk, the Radium Hospital Research Foundation, a partner of Oslo Cancer Cluster, is awarding several million Norwegian kroner to new research that fights cancer with light.

Radforsk is an evergreen investor focusing on companies that develop cancer treatment. Since its inception in 1986, Radforsk has allocated NOK 200 million of its profit back into cancer research at Oslo University Hospital. This year, four researchers will be awarded a total of NOK 4.5 million. One of them is Anette Weyergang, who will receive NOK 3.75 million over a three-year period.

“I’m so happy for this grant. As researchers, we have to find funding for our own projects. I didn’t have any funding for the project I have now applied and been granted funds for,” says Anette Weyergang.

Anette Weyergang is one of the researchers who has received funding from Radforsk.

Anette Weyergang is a project group manager and senior researcher in a research group led by Kristian Berg. The group conducts research in the field of photodynamic therapy (PDT) and photochemical internalisation (PCI). Radforsk’s portfolio company and Oslo Cancer Cluster member PCI Biotech is based on this group’s research.

What is PDT / PCI? Cancer research in the field of photodynamic therapy and photochemical internalisation studies the use of light in direct cancer treatment in combination with drugs, or to deliver drugs that can treat cancer cells or organs affected by cancer.

 

Weyergang is the first researcher ever to receive several million kroner over the course of several years from Radforsk.

“We have donated a total of NOK 200 million to cancer research at Oslo University Hospital, of which NOK 25 million have gone to research in PDT/PCI. We have previously awarded smaller amounts to several researchers, but we now want to use some of our funds to focus on projects we believe in,” says Jónas Einarsson, CEO of Radforsk.

By the deadline on 15 February 2019, Radforsk received a total of eight applications, which were then assessed by external experts.

 

The new research focuses on how to use light to release the cancer drugs more efficiently inside the cancer cells.

 

New use of PCI technology

PCI is a technology for delivering drugs and other molecules into the cancer cells and then releasing them by means of light. This allows for a targeted cancer treatment with fewer side effects for patients.

Weyergang will use the funds from Radforsk to research whether PCI technology can be used to make targeted cancer treatment even more precise.

“The project aims to find a method for delivering antibodies to cancer cells using PCI technology. This has never been done before, and if we succeed, it can open up brand new possibilities for using this technology,” says Weyergang.

Initially, she will focus on glioblastoma, which is the most serious form of brain cancer. Glioblastoma is resistant to both chemotherapy and radiotherapy, and has a very high mortality rate.

“This is translational research, so human trials are still a long way off. We will now use both glioblastoma cell lines and animal experimentation to test our hypothesis. We do this to establish what is called a “proof of concept”, which we need to move on to clinical testing,” says Weyergang.

 

The other researchers who have received funding for PDT/PCI research from Radforsk in 2019 are:

  • Kristian Berg and Henry Hirschberg Beckman: NOK 207,500
  • Qian Peng: NOK 300,000
  • Mpuldy Sioud: NOK 300,000

 

What is Radforsk?

  • Since its formation in 1986, Radforsk has generated NOK 600 million in fund assets and channelled NOK 200 million to cancer research, based on a loan of NOK 1 million in equity back in 1986.
  • During this period, NOK 200 million have found its way back to the researchers whose ideas Radforsk has helped to commercialise.
  • NOK 25 million have gone to research in photodynamic therapy (PDT) and photochemical internalisation (PCI). In total, NOK 40 million will be awarded to this research.

 

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