Sydney, Australia 13 September 2018 – Clarity Pharmaceuticals, a radiopharmaceutical company focused on the treatment of cancer, cardiovascular disease and fibrosis, has received a strategic investment of $5 million from GenesisCare, the largest private provider of cancer treatment in Australia and Europe.
The funds will go towards the development of Clarity’s clinical pipeline, aligning with GenesisCare’s strategy to increase patient access to innovative, high quality care.
The announcement follows GenesisCare’s 2017 acquisition of Theranostics Australia, the country’s pre-eminent provider of theranostics, in an effort to advance developments in this potentially ground-breaking field of cancer treatment.
Theranostics combines diagnostics and therapy – using agents that are labelled with isotopes and bind to markers on cancers – to deliver precise, personalised cancer therapy. GenesisCare’s investment will accelerate Clarity’s clinical developments using its theranostic technology.
Dan Collins, GenesisCare Chief Executive Officer and founder, said he is excited to be partnering with Clarity, in what is the first investment of this type for GenesisCare.
“This strategic investment is an exciting new step for GenesisCare. Our goal is to bring the very best of our organisation to partner alongside Clarity to find better ways of treating patients. Our world-class doctors and researchers are uniquely positioned to develop and deliver cutting edge proprietary technologies, with clinical infrastructure in Australia, Europe and soon China.
“This collaboration aligns with our plans to grow our clinical trial capabilities. We are looking forward to working with Clarity to advance the global radiopharmaceutical market and improve access to innovative technologies and therapy for people with cancer around the world,” said Mr Collins.
Clarity’s extensive pipeline targeting cancer includes: SARTATETM, a radiopharmaceutical compound for treating neuroblastoma in children, as well as neuroendocrine tumours and meningioma; SAR-PSMA for prostate cancer; and SAR-BOMBESIN for a range of cancers, including small cell lung, ovarian, prostate, and breast cancers, gastrointestinal stromal tumours, urinary cancers and glioblastoma.
Clarity’s unique theranostic technology combines the “perfect pairing” of isotopes, using copper-64 for diagnosis and copper-67 for therapy.
Associate Professor Nat Lenzo, GenesisCare Clinical Director of Theranostics, said he is very supportive of the new collaboration.
“Theranostics is a promising form of personalised cancer therapy, with potential to become an important treatment alongside other core cancer therapies.
“To advance this field – in order to have the greatest impact on life outcomes – there is a significant opportunity and need to develop, test and introduce new theranostics agents. I am personally very excited about GenesisCare’s investment in Clarity, which will increase treatment options for people with cancer,” A/Prof Lenzo said.
In addition to the investment, Clarity and GenesisCare will be exploring strategic and collaborative opportunities, including clinical development, supply chain logistics, increased access to patients, contract research organisation services and new market entry opportunities.
Dr Alan Taylor, Executive Chairman of Clarity Pharmaceuticals, welcomed the collaboration: “This strategic investment comes at a time when the radiopharmaceutical industry is gaining real momentum. We’re thrilled to be working closely with GenesisCare to leverage the synergies that this collaboration might bring to advance the treatment of cancer in children and adults around the world.”
Dr Taylor said Clarity was immediately commencing an additional $5 million Rights Issue to current shareholders on the same terms as the GenesisCare investment to provide shareholders with an opportunity to invest on the same basis. Any shortfall would be offered firstly to shareholders who take up their entire rights in the Rights Issue, and then, if any shortfall remains, to new investors.
Media Contact
For Clarity Pharmaceuticals:
Dr Alan Taylor
Executive Chairman
Ph: +61 (0)413 871 165
E: ataylor@claritypharm.com
For GenesisCare:
Lauren Coleman
Ph: +61 (0)413 254 545
E: Lauren.Coleman@genesiscare.com
Nigel Kassulke
Ph: +61 407 904 874
E: nkassulke@cannings.net.au
About Clarity
Clarity is a personalised medicine company focused on the treatment of serious diseases. The Company is a leader in innovative radiopharmaceuticals, developing targeted therapies for the treatment of cancer and other serious diseases in adults and children.
www.claritypharmaceuticals.com
About GenesisCare
GenesisCare delivers treatment to people with cancer and heart disease, the two largest disease burdens globally. We’re committed to leading the change in how care is designed and given, and are currently leading or participating in more than 100 clinical trials.
The organisation employs more than 2,500 highly trained health professionals and support staff across Australia, Europe and now China, including some of the world’s most experienced specialists. Every year GenesisCare clinical teams see more than 160,000 people at more than 130 locations. For cancer treatment, that includes 12 centres in the UK, 21 in Spain and 30 in Australia, with more than 20 new centres under development. We also offer cardiology and sleep services at more than 80 locations across Australia.
Our purpose is to design care experiences that get the best possible life outcomes. We believe that care should be focused on the individual, not the condition, and are proud of our patient satisfaction ratings, which place us in the top 1 per cent of outpatient healthcare organisations in the world.
About Theranostics
Theranostics is a personalised form of cancer therapy that combines diagnostics and therapy. It uses one type of radioactive drug to identify, or diagnose, cancerous targets known as tumour receptors. If the tumour receptors are visible on a scan, a second type of radioactive drug is administered, and can travel directly to the main tumour and any secondary ones (metastatic tumours). Anything that doesn’t reach the target is passed out of the body, resulting in little damage to healthy tissue.
Theranostics can be used for many types of cancer, and has most successfully been used for metastatic prostate cancer, and for neuroendocrine cancers (which can arise in several organs). It is not a suitable treatment for all patients, but may be an option to treat areas where cancer has spread (metastasised), or where cancer is advanced or hasn’t responded to other treatments.
