Race Oncology Ltd (ASX:RAC) welcomes the results of blinded primary market research to investigate its asset Zantrene’s commercial potential as a cardio-protective and anti-cancer agent within key cancer types where anthracyclines are typically used.
Investors have also welcomed the news with shares as much as 9.54% higher within the first hour of ASX trading to A$2.01 while the company's market cap is approximately A$317.71 million.
Well-positioned for use
Triangle Insights conducted the research with stakeholders and the assessment suggests that Zantrene is well-positioned for use in metastatic breast cancer broadly – and specifically within the neoadjuvant setting for HR+/HER2- and triple-negative breast cancer (HR-/HER2).
There is a ‘significant’ opportunity for the company, with the potential to earn more than US$5 billion for demonstrated anti-cancer efficacy, or in the vicinity of US$1 billion as a supportive care cardio-protective therapeutic.
“This research, conducted by third-party life science strategy consulting firm Triangle Insights Group, is highly informative to Race’s understanding of Zantrene’s market potential,” non-executive chair Dr John Cullity said.
“To complete this work, Triangle consulted with key stakeholders involved in the treatment and reimbursement chain – from cardio-oncologists to payors.
Valid picture of the market
“The findings have been entirely useful, informing potential treatment scenarios for Zantrene in breast cancer, an area in which we have promising historical data. While the sample set was modest, this independent assessment provides a valid picture of the market and suggests a positive and wide-ranging financial opportunity.”
CEO and managing director Damian Clarke-Bruce added: “The Triangle Insights report indicates a major global commercial opportunity for Zantrene if proven to be a cardio-protective agent with anti-cancer activity in breast cancer.
“Physicians noted that cardio-protection from anthracycline-induced heart damage is a clear unmet need and that they would embrace treatment options for their patients.
“The peripheral (intravenous) formulation is critical for this specific opportunity in breast cancer and as we look toward partnerships or potential licencing agreements in the future. The team is working on the formulation and updates on its progress are expected during H1 CY23.
Cardio-protection
“By scope, this research project reviewed cardio-oncology opportunities, and while breast cancer appears to be the obvious approach, the data is directional for further exploration in other cancer types.
“Being specific to the cardioprotection opportunity, this assessment was not scoped to review the other significant area of research and intellectual property potential for Zantrene – the pursuit of the FTO pathway.
“Investigating and understanding Zantrene’s ability to inhibit FTO remains a core component of our ‘three pillar’ strategy and any relevant FTO-related market assessment may be additive to this research.”