EXACT Therapeutics Receives Investment from GE HealthCare to Advance Therapeutic Ultrasound in Pancreatic Cancer using ACT®

02 Dec 2024 16:38 CET

Oslo, Norway; December 02, 2024 - EXACT Therapeutics Receives Investment from GE
HealthCare to Advance Therapeutic Ultrasound in Pancreatic Cancer using ACT®

* GE HealthCare to participate as cornerstone investor and invest 7 MUSD in a
private placement in EXACT Therapeutics

* Anticipated that the private placement will fund EXACT Therapeutics’ Phase 2
ENACT study in pancreatic cancer

* GE HealthCare and EXACT Therapeutics to form strategic development agreement
in a 4-year collaboration within abdominal cancers

* GE HealthCare will develop and supply probes and consoles for EXACT
Therapeutics’ clinical studies




EXACT Therapeutics (Euronext Growth: EXTX) today announced a strategic
collaboration with GE HealthCare focused on advancing ultrasound mediated
therapeutic enhancement with Acoustic Cluster Therapy (ACT®) within the field of
abdominal cancer. As part of the agreement, GE HealthCare will participate as a
cornerstone investor, committing 7 MUSD to EXACT Therapeutics' (EXACT-Tx)
planned private placement.

The private placement will be utilized to support the ENACT study, EXACT-Tx’
Phase 2 clinical study in first-line patients with locally advanced pancreatic
cancer. Pancreatic cancer is the 12th most common cancer worldwide with around
510,000 new cases every year (World Cancer Research Fund International). Locally
advanced pancreatic cancer patients make up 30-40% of the overall patient
population (Roalsø, 2022). Pancreatic cancer is one of the deadliest cancers and
in the U.S., after 5 years only 12.8% of patients are alive (SEER).

GE HealthCare, a global leader in medical technology, will enter a 4-year
collaboration with EXACT-Tx leveraging EXACT-Tx’s proprietary and innovative
ultrasound and microbubble mediated ACT. ACT is a novel technology that has the
potential to enable targeted, organ-specific drug delivery to tumors. Under the
agreement, EXACT-Tx will exclusively work with GE HealthCare for development and
supply of probes and consoles for EXACT-Tx’s clinical studies. This
collaboration marks a significant milestone in accelerating the use of
therapeutic ultrasound in oncology.

"This collaboration with EXACT Therapeutics supports our commitment to helping
clinicians deliver more precise and efficient care to patients and expanding the
use of ultrasound beyond screening and diagnosis and into the therapeutic
space," said Sudha Maniam, General Manager, Probes and Emerging Applications, GE
HealthCare. “We look forward to exploring the full potential of this innovative
therapy, which could help transform how we treat people living with cancer.”

EXACT-Tx was spun-out from GE HealthCare in 2012. GE HealthCare will participate
as cornerstone investor and invest 7 MUSD in EXACT-Tx’s upcoming private
placement together with new and existing investors. Today, GE HealthCare does
not own any shares in EXACT-Tx. After a potentially successful closing of the
private placement, GE HealthCare is expected to be a significant minority
shareholder and is proposed to take up a non-executive position at the Board of
Directors.

Per Walday, CEO of EXACT Therapeutics comments, “We are excited about this
strategic collaboration with GE HealthCare which opens a pioneering path to
bring non-invasive ultrasound with microbubbles into the cancer therapy space.
As a global leader in medical technology, GE HealthCare is the perfect partner
and cornerstone investor for the private placement to fund our Phase 2 ENACT
study in pancreatic cancer. Pancreatic cancer is one of the deadliest cancers
and has a growing patient population, in particular in younger population
groups. The ENACT study is planned to be initiated around year-end 2024.” 

EXACT-Tx retains all commercial rights to ACT® worldwide.



About EXACT Therapeutics
EXACT-Tx is a clinical-stage precision medicine company utilizing the power of
ultrasound and microbubbles to enable targeted drug delivery in oncology.
Acoustic Cluster Therapy (ACT®) follows a unique approach and may be applied to
a wide range of therapeutic agents within oncology and across a multitude of
other indications including brain diseases. www.exact-tx.com


For further information, please contact:

Per Walday
CEO EXACT Therapeutics
Email: per.walday@exact-tx.com

More information:
Access the news on Oslo Bors NewsWeb site

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