Stockholm, Sweden, November 8, 2016 – XSpray Microparticles AB, a clinical stage product development company that creates improved and generic versions of existing cancer products, today announced the successful completion of a new share issue of SEK 41 million.
“I’m pleased with the strong interest from both existing and more than 70 new investors. The proceeds from this share issue will allow us to continue to progress our lead product candidate, XS-004, further in clinical development with the goal to achieve next relevant clinical milestone during the first half of 2017 as well as expanding our internal product pipeline with new high value product candidates, “says Per Andersson, CEO of XSpray.
For further information, please contact:
Per Andersson, CEO, XSpray Microparticles AB
Tel: +46-706-88 23 48, e-mail: firstname.lastname@example.org
XSpray is a clinical stage product development company creating improved and generic versions of already marketed drugs within the field of cancer treatment. XSpray applies its patent protected technology platform to generate a pipeline of anti-cancer products with clinically relevant improvements to patients or high value generic versions. Two of XSpray’s product candidates are currently in clinical development. Its lead product candidate, XS-004, is designed as an improved version of a marketed product for the treatment of leukemia selling for more than BUSD 1,5 annually. For further information, please visit www.xspray.com
XSpray has developed a hybrid nanoparticle technology (HyNapTM) – a proprietary patent protected technology platform that enables and improves cancer treatments based on protein kinase inhibitors (PKI’s). Improvements have been made in more than half of the 30 currently marketed PKI’s, whereof many have already been proven in animals and in clinical trials. For further information, please visit www.xspray.com
About protein kinase inhibitors (PKI’s)
Protein kinase inhibitors (PKI’s) are a breakthrough group of compounds, remarkably effective in treating a wide range of cancers. However, they often have limitations such as variable bioavailability due to poor solubility and pH-dependent absorption. These together with a possible food interaction can lead to poor therapeutic effect and sometimes fatal outcome. About 20% of the total cancer pharmaceutical value are presently from PKIs. Total expected sales value for 2020 is more than BUSD 20.