NEW YORK: In 2019, the American Cancer Society projected 1.76 million new cancer cases diagnosed and the number of deaths to stand at 606,880 in the U.S. Overall, the alarming projection has caused concern within the biotechnology marketspace. In response, biotechnology companies, specifically companies dabbling in the immunotherapy and oncology sector, are working to develop innovative treatments and therapies in order to effectively treat patients diagnosed with cancer.
Mainly, most patients suffer from lung, breast, and prostate cancer, and in 2019, the National Cancer Institute expects 268,000 new breast cancer cases, 228,150 new lung cancer cases, as well as 174,650 new prostate cancer cases. Overall, several new cancer treatments such as immunomodulators, CAR-T cell therapy, and monoclonal antibodies are also becoming more abundant as biotechnology companies further develop and market these therapies. Compared to traditional treatments, these therapies are more technologically advanced, meaning they are more effective at suppressing or possibly even eliminating cancer. However, despite the progress in technology, the demand for cancer therapies isn’t slowing down. Patients and medical institutes are constantly looking for more effective and efficient treatments in order to reduce the number of cases. And according to data compiled by Grand View Research, the global cancer immunotherapy market size is expected to reach USD 126.9 Billion by 2026 while exhibiting a CAGR of 9.6%. Additionally, the industry is expected to grow due to the increasing patient pools and higher mortality rates, while an increasing number of approvals for new immunotherapeutic drugs is also expected to propel the market. Oncology Pharma Inc. (OTC: ONPH), Kadmon Holdings, Inc. (NYSE: KDMN), Advaxis, Inc. (NASDAQ: ADXS), SELLAS Life Sciences Group, Inc. (NASDAQ: SLS), Geron Corporation (NASDAQ: GERN)
There is an ongoing shift from traditional chemotherapies to immunotherapies, which also has an impact on the market by further propelling its growth. In addition to early detection and treatment of cancer, the immuno-oncology industry is also developing post-treatment therapies to better protect patients from recurrence. There has also been an introduction of immunomodulatory drugs such as thalidomide, lenalidomide, and pomalidomide, which were among the best treatment options in the past few years. As well as an influx of newer drug classes like antibodies and HDAC inhibitors which are designed to target specific cancers. “Faced with growing clinical workloads and decreasing margins, oncologists are under a growing amount of pressure at work,” said Joe DePinto, President of Cardinal Health Specialty Solutions. “But, as our research shows, many oncologists are meeting their challenges head-on by proactively investing in tools, technology and additional clinical support staff. And today they are feeling more confident in their ability to adapt to changing trends, such as value-based care.”
Oncology Pharma Inc. (OTC: ONPH) announced yesterday that, “Stefan Gruenwald (MD, PhD), cofounder and president of Diagnomics Inc., has been elected to Oncology Pharma’s supervisory board of directors. Dr. Stefan Gruenwald is a former VP of Research and Development at Becton Dickinson, a conglomerate with a current market capitalization of approximately $68 Billion. He is the co-founder and managing partner of Genautica, established in December of 2010. Genautica is a California LLC located in close proximity to the Biotech Hub of San Diego.
Dr. Stefan Gruenwald, through Genautica, has seed-funded Diagnomics, a biotech company employing a highly qualified team of scientists, including early pioneers in sequencing the human genome. Through its investment in Diagnomics, Genautica has also been a co-founder and early investment partner of the EONE-Diagnomics Genome Center (EDGC) in Korea, which went public in 2018 on KOSDAQ, the major Korean tech stock market for over 400 Million USD.
Part of the IPO proceeds have been used to buy a female health clinic (10,000 patients), build an R&D center in Songdo, Korea, housing 14 biotech and pharmaceutical companies, acquiring one of the major diagnostics distribution companies and expanding the clinical genome center approach to various countries in Asia. EDGC has grown rapidly and annual revenues for 2019 are predicted to be around 50 million USD.
Chuck Wagner, President of Oncology Pharma Inc., commented: “Oncology Pharma conducted an exhaustive search to strengthen the board of directors’ breadth of background and talent. I am delighted to have such an outstanding individual join the board to contribute to our mission, vision and goal of the company. Dr. Stefan Gruenwald is a pioneer with more than thirty years of experience in the biotechnology space and brings vast knowledge and experience in both the clinical, scientific and business fields to the company.”
“I am very excited to join the Board of Directors of Oncology Pharma,” said Dr. Gruenwald. “I’ve been involved in biotech for over a quarter of a century and I’m truly thrilled about this amazing opportunity to help this company to evolve into a world-wide leader in its space.”