Biovica has successfully managed to ensure funds to deliver on the company’s business plan. Together with its financial advisor, Vator Securities, SEK 30 million have been raised in an oversubscribed issue of new shares.
Biovica has developed a blood test for the rapid and reliable evaluation of therapy efficacy in patients with advanced cancer. The first application of the company’s test, DiviTum™, is evaluation of the efficacy of specific treatments in advanced breast cancer. The aim is to give physicians more supporting data in order to optimize treatment outcome for patients.
A new class of drugs called CDK-inhibitors, such as Ibrance (palbociclib, Pfizer) can be used to treat up to 75 percent of all patients with advanced breast cancer (Ibrance is currently approved in the US and is expected to soon be approved in the EU). However, about 50 percent of treated patients do not respond to treatment with Ibrance. Rapid evaluation of treatment efficacy and early identification of resistance to a drug enable physicians to replace ineffective treatments with other cancer drugs for optimal patient outcome.
12 clinical studies demonstrate the ability of DiviTum™ to perform as a prognostic, predictive and response monitoring assay in cancer patients with solid tumors. The company has ten additional ongoing clinical trials with a number of international partners; the Dana Farber Cancer Institute, the Breast International Group (BIG), which brings together over 50 international breast cancer research groups, the International Breast Cancer Study Group (IBCSG) who are pioneers in the study of breast cancer treatment, and the Karolinska Institute. More than 20,000 patient samples have been analyzed with the DiviTum™ technology, including studies by one of the largest pharmaceutical companies.