On September 9, 2020 Summit Biomedical Imaging ("SBI"), a private, clinical-stage company developing products for diagnostic medical imaging and Theragnostics, which is developing molecular radiotherapy for imaging and treating a broad range of cancers, reported their entering into a global license agreement for intellectual property (IP) that will contribute to SBI’s global freedom to operate in the diagnostic field of certain fluorescence-labeled PARP (Poly ADP-Ribose Polymerase) inhibitors (Press release, Theragnostics, SEP 9, 2020, View Source [SID1234564818]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

SBI’s cancer detection technology uses PARPi-FL, a PARP inhibitor with a fluorescence tag. PARP is a class of enzymes that are involved in normal cellular processes including DNA damage repair. PARP activity and expression are up-regulated in tumor cells. PARP inhibitors block the action of PARP by binding to PARP enzymes.

PARPi-FL combines the ability to bind to PARP with a fluorescence tag to specifically target cancers that over-express PARP. By targeting PARP, PARPi-FL brings the optical imaging agent to the cancer, enabling direct detection of tumors with significantly greater selectivity and sensitivity as compared to other competing technologies.

Andrew Riley, Chief Executive Officer of Summit Biomedical Imaging, said: "This agreement with Theragnostics bolsters Summit Biomedical Imaging’s IP position with regards to PARPi-FL and will allow Summit Biomedical Imaging to focus on developing the oral cancer detection application for this molecule. This will enable Summit Biomedical Imaging to bring new diagnostic solutions to market for detecting cancer earlier and improving patient outcomes."

Dr. Gareth Smith, Chief Operating Officer of Theragnostics, added: "Theragnostics is pleased to work with Summit Biomedical Imaging for the development of PARP inhibitor based diagnostics. Leveraging their expertise in oncological diagnostics applications is an important step forward in implementing our strategy of bringing novel diagnostic agents and new targeted therapies to cancer patients."

SBI’s first target for this technology is the in vivo detection of oral cancer, a large and growing market. Worldwide, over 450,000 cases of oral cancer are diagnosed each year and in many places, including the United States, the incidence rate of oral cancer is increasing. Oral cancer detection is estimated to be a $5 billion market (source, Market Research Future), which is projected to grow over 6.8% annually through 2024. Summit Biomedical Imaging seeks to enable earlier diagnosis using PARPi-FL and fluorescence imaging in the oral cavity. Earlier detection enables earlier intervention, which corresponds to saving lives and lower intervention costs, with the potential to save over $1 billion in patient and insurance costs annually.