Breakthrough Agreement for Phoenix Solutions

A new exciting collaboration among two Oslo Cancer Cluster members has been initiated. GE Healthcare has agreed to be the manufacturer of the target drug delivery platform ACT, made by Phoenix Solutions.

Early Christmas Present
As an early Christmas present to each other the two companies announced that they had signed an agreement securing manufacturing for ACT, short for Acoustic Cluster Therapy, a technology platform for targeted drug delivery. CEO at Phoenix Solutions, Per Sontum, emphasized the importance of gaining a manufacturer that had experience with similar products.

“We are excited to sign this agreement and get GE on board as contract manufacturer of our product. With more than 20 years of experience producing Sonazoid and Optison, GE`s Oslo organization is the world leading site for the manufacturing of this class of pharmaceuticals.”

From GE`s Womb
The collaboration, however, is not totally out of the blue. Phoenix Solutions sprung out from GE Healthcare in 2013. GE`s General Manager for Norway, Bjørn Fuglaas believes this tie between the two companies is an advantage:

“We are very pleased that Phoenix has chosen to work with GE for this project, which is in line with the expectations we had when the company was spun out of GE in 2013. This is an area of interest and we believe GE to be uniquely positioned in this field given existing and strong capabilities within production of disperse pharmaceuticals, and microbubbles in particular”, he says.

This agreement also secures what is called Good manufacturing practice (GMP) for Phoenix Solutions. Making their product and company a safer potential for investors and further along in their development than time should suggest.

A Very Promising ACT
ACT is a special and interesting targeting device. It is an ultrasound mediated drug delivery system that specializes in beating the vascular barrier. It has a wide range of therapeutically useful applications, but Its primary use being the ability to deliver sufficiently high concentrations of drug to the tumor without contaminating its surroundings. Phoenix thinks ACT is a promising targeting system for pancreatic, liver, triple negative breast and prostate cancers, and has extremely promising pre-clinical results so far.

Oncoinvent With New Lab and Bright Future

The cancer research company and Oslo Cancer Cluster-member Oncoinvent opened this Thursday a brand-new lab and research facilities at Nydalen Oslo. Now they control the whole production line and continue their development of their lead product candidate Radspherin.

A Good Year
2017 has been a good year for Oncoinvent. The company has now relocated and built new office and laboratory facilities, grown from four to twelve employees, and raised new capital. CEO at Oncoinvent Jan A. Alfheim believes that this represents a significant milestone for the company and will enable the company to further develop Radspherin®, a novel alpha-emitting radioactive microparticle designed for treatment of metastatic cancers in body cavities.

And Oncoinvent ends the year in fashion by opening brand new laboratory and research facilities. A lot of interested people came to tour the new facilities, observing an impressive lab with special infrastructure. Treating radioactivity, and circulating air in a facility that treats radioactive materials, calls for an extra advanced ventilation system.

Lab With all the Facilities
The idea of the new research facility is to be able to contain the whole production line, from research to drug manufacturing, to one location. All this contained in an area of 581 m2.

Creating a modern lab with the capabilities to treat radioactive materials in an active and well populated part of Oslo demands very strict guidelines. The production suites in the facility are constructed to be qualified for Good Manufacturing Practice (GMP) for production of Medical Product Candidates. Systems for purifying and monitoring of air and water quality as well as the removal of any potential radioactivity have been installed to ensure the safety of the operators, population and the environment.

The Production and Research areas of the laboratory will facilitate both the development of the Radspherin program and other discovery projects of the Company.

A Weapon for Precision Medicine
Radspherin® has been shown to cause a significant reduction in tumor cell growth an it is anticipated that the product can potentially treat several forms of metastatic cancer. Oncoinvent is developing Radspherin® as a ready-to-use injectable product that seeks out cancer tumors and destroys them from inside by emitting its radioactive content.

The first clinical indication for Radspherin® will be treatment of peritoneal carcinomatosis, a rare type of cancer that occurs in the peritoneum, the thin layer of tissue that covers abdominal organs and surrounds the abdominal cavity. Additionally, Oncoinvent has lined up a collaboration with European and American clinical research centers for the clinical development Radspherin®.

Four Cluster Companies Get Innovation Reward

Nacamed, Phoenix Soulutions, NorGenoTech and Clever Health are awarded Innovasjonsrammen for good early-stage innovation and collaboration. Innovasjonsrammen is awarded by Oslo Cancer Cluster with money from Innovation Norway. Congratulations!

Important with early financing
Early financing while companies are establishing their business is often limited, but can be crucial to get important projects off the ground. Therefore, Innovation Norway has given Oslo Cancer Cluster 1000 000 NOK to reward excellent innovation and collaboration activity at an early stage. A cluster is all about reaping the benefits of collaboration and Oslo Cancer Cluster has awarded the Innovasjonsrammen-money to four of their promising member companies. Hopefully this will inspire other potential financers to support Norwegian bio businesses at an early stage.

Prize money awarded
NorGenoTech AS     150 000 NOK
Clever Health           100 000 NOK
Phoenix Solutions    500 000 NOK
Nacamed                 150 000 NOK

Hanne Mette Kristiansen from Innovation Norway and Ketil Widerberg from Oslo Cancer Cluster, as well as Bjørn Klem form Oslo Cancer Cluster Incubator, handed out checks for Innovasjonsrammen. Her received by Sergey Shaposhnikov from NorGenoTech, Jon-Bendik Thue from Clever Health, Per Christian Sontum from Phoenix Solutions and Christina Westerveld Haug and Lars Gunnar Fledsberg from Nacamed.

Bringing Together Tech Knowledge
At the 5th floor of Oslo Cancer Cluster the four companies each received their innovation award handed out by Hanne Mette Kristiansen from Innovation Norway, Ketil Widerberg from Oslo Cancer Cluster and Bjørn Klem from Oslo cancer Cluster Incubator.

Ketil Widerberg, General Manager at Oslo Cancer Cluster, thanked Innovation Norway for providing the money and the panel of experts that helped pick the four deserved winners. – This money helps to remove some risk from the early stages of the innovation process, said Widerberg.

Bjørn Klem from Oslo Cancer Cluster Incubator added that it had been a very difficult process choosing the winners from the eight companies that applied. However, giving out prize money requires hard choices and he applauded the versatility at display.

–I think it is interesting that the four companies represent four different approaches within cancer research. Four different technologies. And getting them together here today is what Oslo Cancer Cluster and the incubator is all about: Getting different people together sharing knowledge and impulses!

Hanne Mette Kristiansen from Innovation Norway explained that Innovasjonsrammen was a way of reaching out to companies that usually avoided their attention. Startups that had not yet attracted any serious business attention, but nevertheless had very promising projects.

About the companies
Sergey Shaposhnikov from NorGenoTech explained that the money was coming in very handy. They are a company, as he explained it, straight out of the lab. Now they could start turning their research into business.

Clever Health has a more customer or patient oriented focus in their business model. Jon-Bendik Thue from Clever Health explained how a widespread disease as prostate cancer needs a way of differentiating between the patients that need treatment and the ones that do not.

Per Christian Sontum from Phoenix Solutions was very thankful for the award and money. He showed everybody how ultrasound can be way of targeting cancer cells with precision drug delivery.

And the event was elegantly rounded off by Christina Westerveld Haug and Lars Gunnar Fledsberg from Nacamed. Nacamed’s business goal is to produce nanoparticles of silicon material for targeted drug delivery of chemotherapy, radiation therapy and diagnostics to kill cancer cells. She explained that the money would be put in use straight away. Preparing for important trials after Christmas.

NOME Important to BioIndustry Growth

Nordic Mentor Network for Entrepreneurship (NOME) will be an important piece of the puzzle if Norway is going to fulfill their ambitions set by the coming White Paper on the Healthcare Industry.

If we are to make our bioindustry more competitive and take a leading European role within eHealth, we need to learn from the best in the business. NOME is a program that aims to lift Nordic life sciences to the very top by using mentors.

The Norwegian Parliament’s Health Committee has asked for a report on the Healthcare industry in Norway, a so called White Paper. The objective is to examine the challenges we face because of climate change, new technology, robotics and digitalization.

Innovation needs to meet industrial targets
Additionally, the committee has stressed the importance of a purposeful dedication to health innovation. There should be a focused investment In fields where we have special preconditions to succeed. A better facilitation of clinical studies and use of health data is especially emphasized. Nordic countries are in a unique position with vast registries of well documented health data, a good example being the Cancer Registry of Norway. With better implementing of new technology this type of health data will be increasingly important.

The committee also emphasized the need to shorten the distance between research and patient treatment through effective commercialization. And, in continuation, easier access to risk investment capital to help the industry grow.

–The path from research to actual treatments and medication is long and hard, and rightfully so – everything must be thoroughly tested. But you can imagine! Every second we can peel off the time it takes for new research to reach patients is extremely valuable and saves lives, explains Bjørn Klem, Managing Director, Oslo Cancer Cluster Incubator.

NOME a piece of the puzzle
However, how do we fulfill these ambitions? Klem believes the answer is combining forces within the other Nordic countries.

– We have different strengths. Think about how big Bioindustry and business is in Denmark. There is so much to learn form that!

NOME is a concrete way of collaborating. It is easy to say: “we are going to learn from each other”, but how do we in a concrete fashion set about doing this. NOME is a mentoring program that sets collaboration in motion.

— To put it plainly, NOME is a program for all Nordic Bio start-ups. They can apply and if their application is successful we send experts catered to help with the company’s very specific needs, explains Klem.

NOME is a meeting place between the start-up freshman and the experts that have thread this path before. They match Nordic entrepreneurs with handpicked international professionals to help each start-up with their specific needs.

— Think about it! There is so much a new start-up don’t know, lacking network and experience. How do you make it as a commercialized company in the health industry? NOME can provide both business and research mentoring transferring knowledge from past successes to new ones, says Klem.

A Twofold Benefit to Society
The desire is to propel the Nordic countries into one of the leading life science regions to commercialize high growth life science start-ups.

— With NOME society’s return is twofold. Firstly, we give patients access to new treatment faster by giving start-ups the necessary guidance and know-how. Secondly, we give our Bio Business a chance to grow with all the positives that has to economy and employment, Klem believes.

Oslo Cancer Cluster Incubator coordinates the NOME-program in Norway and collaborates with the incubator Aleap to find the best match of mentors and entrepreneurs. To take part in the program you can click here for more information.