Investor Relations - Overview
MitaMed has developed a procedure for the successful endoscopic treatment of gastrointestinal cancers. The EndoVE® is an innovative energy-based technology, which offers patients and clinicians a viable and successful treatment for cancer.
Current standards of care for cancer treatment carry significant side effects for patients. There is a need for more targeted, less invasive therapeutic strategies. Emanating from extensive research and medical expertise at University College Cork, Cork Cancer Research Centre and the Mercy University Hospital, MitaMed has licensed the rights to the discovery, developments and patents for an energy-based endoscopic device which has already demonstrated compelling results in pre clinical and Phase I human clinical trials.
MitaMed’s EndoVE® device uses an electrode system designed for use as an attachment to a standard endoscope. The device delivers brief electric pulses to a tumour causing the cancer cells within the electric field to become extremely permeable, allowing subsequent drug absorption. This phenomenon, which already achieves an 85% positive response rate in skin cancers, is known as electroporation and allows for the targeted absorption of specific drugs into cancer cells.
Advantages with the EndoVE®
Healthy tissue remains uncompromised, significant reduction in chemotherapy which eliminates side effects, minimally invasive outpatient procedure that greatly improves patient’s quality of life and reduces the overall cost of patient care.
Minimally invasive, targeted techniques are fast growing in cancer treatment for patient, medical and financial reasons. Pharmaceutical companies are attempting this through targeted molecular therapies, which are long and expensive to market. Device companies are using better, more accurate placement techniques but their ability to minimise damage to healthy tissue is low.
By comparison, MitaMed uniquely offers a solution that is medically remarkable. Through the use of standard endoscopy skills, it offers a minimally invasive procedure that targets tumour cells directly and is financially attractive in terms of total treatment and after-care costs.
MitaMed’s key objectives for the next 18 months include the completion of the current clinical trial, expansion of trials into other forms of cancer and into a multicentre European study, design optimisation, CE marking and commencement of volume manufacturing. Additional patents will be filed to protect ongoing R& developments.
MitaMed is implementing a staged process to the funding and expansion of the company. Initially all funding and resources will be devoted to achieving the objectives set out above. Following this phase, additional funds will enable the recruitment of a number of key hires to gain initial entry into some targeted markets, further product development, and set up optimised contract manufacturing operations.
The CEO of MitaMed is Michael Loftus. Michael has extensive business experience in the Medical Devices sector and was GM for Becton Dickinson in Ireland for several years. He has a comprehensive network in all areas of business development and deployment. Dr Declan Soden, is a MitaMed founder and director, and patent holder of the EndoVE® device. Declan has been involved in cancer research for over a decade, has successfully secured in excess of €5m in research grants from agencies in Ireland & EU and has published extensively in gene and drug delivery to cancer.