REG - Cizzle Biotechnology - Strategic Alliance re lung cancer detection in USA

Cizzle Biotechnology HoldingsAnnouncement

06/05/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220506:nRSF5257Ka&default-theme=true

RNS Number : 5257K  Cizzle Biotechnology Holdings PLC  06 May 2022

This announcement contains inside information for the purposes of article 7 of
EU Regulation 596/2014 which forms part of domestic UK law pursuant to the
European Union (Withdrawal) Act 2018 ("UK MAR").  Upon the publication of
this announcement this inside information is now considered to be within the
public domain.

 

6 May 2022

Cizzle Biotechnology Holdings Plc

 

("Cizzle Biotechnology" or the "Company")

 

Strategic Alliance to develop and market early lung cancer detection in USA

 

"Caring for Lives and Saving Lives through Early Detection"

 

Cizzle Biotechnology, the UK based diagnostics developer, is pleased to
announce that it has signed a heads of terms to partner with CorePath
Laboratories ("CorePath"), a full service cancer reference laboratory, to
develop and offer its proprietary early-stage lung cancer test throughout the
USA.

Highlights

·    Heads of terms signed with CorePath Laboratories, USA, covering an
intended strategic alliance to develop and offer the Company's CIZ1B based
early-stage lung cancer test in the USA

·    CorePath is a Clinical Laboratory Improvement Amendments ("CLIA") and
College of American Pathologists ("CAP") accredited laboratory

·    CorePath intends to develop and offer a clinical laboratory test
throughout the USA using the Company's proprietary technology

·    Proposed 15% royalty and royalty sharing arrangements for the Company
over all offering of products and services using CIZ1B via CorePath in the USA

·    Initial pilots planned

Background

Lung cancer is by far the leading cause of cancer death in the USA, making up
almost 25% of all cancer deaths. Each year, more people die of lung cancer
than of colon, breast, and prostate cancers combined.

The American Cancer Society's estimates for lung cancer in the United States
for 2022 are:

·      About 236,740 new cases of lung cancer (117,910 in men and
118,830 in women) annually*

·      About 130,180 deaths from lung cancer (68,820 in men and 61,360
in women) every year*

·      Currently, there are no simple specific blood tests to detect
lung cancer early when targeted interventions can improve timely access to
cancer care and save lives. Yet it is estimated that about eight million
Americans qualify as high risk for lung cancer and are recommended to receive
annual screening with low-dose CT scans and if half of these high risk
individuals were screened, over 12,000 lung cancer deaths could be prevented**

Further Information

The heads of terms entered into by the Company with CorePath envisages the
parties entering into a full commercial agreement in due course combining
CorePath's proven expertise and knowledge in providing premier pathology
services and consultants for patients, oncologists, clinicians, academic
affiliates and biopharma companies across the USA, with the Company's
proprietary biomarker for early-stage lung cancer detection. It is intended
that Cizzle Biotechnology will benefit from future revenues via a 15% royalty
on the direct offering of all products and services using its proprietary
CIZ1B technology and from shared royalties from future third party revenues
generated jointly by CorePath and the Company.

CorePath is a specialist oncology reference laboratory bringing together
leading clinicians, scientists, academic affiliates and state of the art
facilities and will be responsible for all activities in the USA including
development, clinical trials and test validation for clinical use

Commenting, Allan Syms, Executive Chairman of Cizzle Biotechnology, said:

"Lung cancer is the leading cause of cancer deaths in the USA and a major
health problem globally. This is because for many, detection of lung cancer
only happens when it has become symptomatic and therefore more advanced,
meaning 5-year survival rates are poor. The Company's CIZ1B biomarker to
detect early-stage lung cancer could represent a major breakthrough and we now
have the opportunity to bring the benefits of this test to such an important
market. We are delighted to be partnering with CorePath Laboratories who bring
the expert knowledge and market reach to help develop our biomarker into a
certified test that can be made available to patients and healthcare providers
throughout the USA."

Commenting, Dr Aamir Ehsan, CEO and Medical Director of CorePath, said:

"As a board-certified hematopathologist and molecular geneticist; diagnosing
cancer on a daily basis is hurting when cancer has already metastasized in
patients. While efforts are underway to find actional genetic mutations to
target treatment and improve survival; early detection and intervention are
key to patients' long-term survival and cure. The agreement with Cizzle
Biotechnology represents a significant opportunity to provide early and
cost-effective lung cancer detection via a simple and quick blood test which
will result in significant cost savings downstream, avoiding expensive
treatment, hospital admissions and ultimately saving lives."

 

Enquiries:

 

 Cizzle Biotechnology Holdings plc  Via IFC Advisory
 Allan Syms (Executive Chairman)

 

 Allenby Capital Limited  +44(0) 20 33285656
 John Depasquale
 Alex Brearley

 

 Novum Securities Limited  +44(0) 20 7399 9400
 Colin Rowbury

 Jon Bellis

 

 IFC Advisory Limited  +44(0) 20 3934 6630
 Tim Metcalfe          cizzle@investor-focus.co.uk
 Florence Chandler

 

Notes to Editors:

About Cizzle Biotechnology

Cizzle Biotechnology is developing a blood test for the early detection of
lung cancer.  Cizzle Biotechnology is a spin- out from the University of
York, founded in 2006 around the work of Professor Coverley and colleagues.
Its proof-of-concept prototype test is based on the ability to detect a stable
plasma biomarker, a variant of CIZ1 known as CIZ1B.  CIZ1 is a naturally
occurring cell nuclear protein involved in DNA replication, and the targeted
CIZ1B variant is highly correlated with early stage lung cancer.

For more information, please see https://cizzlebiotechnology.com
(https://cizzlebiotechnology.com)

You can also follow the Company through its twitter account @CizzlePlc and on
LinkedIn.

About CorePath Laboratories

Founded and headquartered  in San Antonio, Texas as one of the few
international laboratories with the ability to offer immunohistochemistry,
cancer cytogenetics, molecular genetics and multicolour flow cytometry
services at one location.  CorePath brings academic expertise, compassion and
state of the art technology to help physicians help their patients and achieve
the most accurate time-sensitive results for early treatment.

Together, they are a highly specialised team with a shared passion: "Caring
for Lives."

CorePath provides an extensive range of haematopathology services to
healthcare providers across the USA and internationally. They work closely
with the biopharma industry through a seasoned project management team with
relevant scientific and therapeutic expertise in cancer drug study needs.
Their team of board-certified pathologists are subspecialised in different
areas of oncology to precisely diagnose cancers using cutting edge technology.
Customers include ICON, Alexion, Covance, Ventana (Roche) and Becton Dickenson

For more information, please see https://www.corepath.us/
(https://www.corepath.us/)

References

* https://www.cancer.org/cancer/lung-cancer/about/key-statistics.html

**Cheung LC, Katki HA, Chaturvedi AK, Jemal A, Berg CD. Preventing Lung Cancer
Mortality by Computed Tomography Screening: The Effect of Risk-Based Versus
U.S. Preventive Services Task Force Eligibility Criteria, 2005-2015. Annals
of Internal Medicine. 2018; 168(3):229-32. doi:10.7326/M17-2067.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCAAMFTMTBMBLT