Nano Drug Delivery with Oasmia
In a previous article, we discussed Bind Therapeutics, a company developing a nano-drug delivery technology for Docetaxel, one of the most commonly used cancer chemotherapy drugs approved for breast cancer, head and neck cancer, and gastric cancer. Another publicly traded Swedish company offering a similar value proposition is Oasmia (STO:OASM).
Founded in 1999, Swedish company Oasmia (STO:OASM) is developing a new generation of nano-enabled drugs within human and veterinary oncology. The Company changed their stock exchange listing from NGM Equity to NASDAQ OMX Stockholm in late June 2010. While the listing floundered at first, the stock has returned over 300% in 2013 so far.
According to Crunchbase, the company has taken in $10 million in funding since inception from Yorkville Advisors. The company has a current market cap of $240 million and no sales as of yet.
Oasmia’s lead product candidate, Paclical, is currently in phase III clinical trials for treatment of ovarian cancer. The active substance in Paclical is paclitaxel, which is one of the most commonly used cytostatics in the world. The company’s patented invention XR-17 is a hydrophilic platform that can be used on a various number of agents, especially in order to improve the profile pattern and water solubility of otherwise sparsely soluble compounds. Like Bind Therapeutics, Oasmia also is developing a nano-enabled drug delivery formulation of Docetaxel which achieved global sales of around 3 billion in 2009. The Company’s pipeline is seen below:
The three drug candidates from Oasmia currently under development are believed to cover 80 percent of present standard treatments of the most common forms of cancer. While not well known among US investors and with no revenues to speak of, Oasmia has made good progress with their lead drug candidate so far and shareholders have rewarded the company in 2013 as a result.
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