november 17, 2022

Ectin Research AB further develops product portfolio

Ectin Research AB (”Ectin” or the ”Company”) announces that its Board of Directors has decided to strengthen the Company’s business development resources and deepen the preclinical validation of its cancer therapy. Ectin already has preclinical results demonstrating that MFA-370 could potentially be used for the treatment of cells from cancer types other than bladder cancer – such as breast, colorectal and prostate cancer. To further advance the understanding of MFA-370’s potential, the Company is initiating a series of preclinical studies to further develop its product portfolio.

The Board of Directors of Ectin decided, as communicated via Press Release on 7 October 2022, to cancel its planned rights issue in view of the current market conditions, as they considered that it was more beneficial for the Company and shareholders to explore alternative financing opportunities. The management of Ectin has now developed a plan for the further business development of the Company which includes, among other things, linking business development competencies to the Company’s operational activities. A plan that the Board of Directors of Ectin has adopted.

Ectin has previously demonstrated the potential use of MFA-370 for the treatment of cells from cancers other than bladder cancer – such as breast, colorectal and prostate cancer. In addition, in June 2022 the Company demonstrated, through contract research with the Sahlgrenska Academy, University of Gothenburg, positive preliminary preclinical data in human experimental models that demonstrated that Ectin’s combination therapy MFA-370 could potentially be used for the treatment of peritoneal carcinomatosis, i.e. a cancer where cells have spread to the peritoneum.

To further evaluate the potential of MFA-370 in multiple cancer indications, and to potentially expand its patent portfolio with additional patent applications through increased knowledge of the substance families, the company is initiating a series of preclinical studies to further develop its product portfolio.

CEO Anna Sjöblom-Hallén: ”The company’s management has recently been working on preparations to facilitate the initiation of the Phase I part of our Phase I/II study. We have put forward plans for the business’ continued business development work and preclinical activities – all with the aim of strengthening our project portfolio and thereby creating value for our shareholders. We look forward to the continued development of MFA-370 for the treatment of patients with metastatic urothelial bladder cancer as well as additional cancer treatments in this hugely important therapeutic area of cancer.”