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Https://www.statista.com/statistics/1197095/clinical-trial-cost-per-patient-by-therapy-area/
Operating results for the first half year were in line with management expectations despite a challenging economic backdrop and unfavorable stock markets which contributed to the deferral of 2023 fundraising plans. The Company has made solid progress toward its two key 2023 corporate objectives:
· Preparing for the upcoming Phase 3 clinical study-a critical component for US market approval of the Company's nasal photodisinfection. ( Steriwave)
· Advancing commercial efforts and geographic footprint into the Canadian, British, Spanish, and Mexican markets.
Financial highlights
· Loss from operations in H1 2023 of $8.03 million (H1 2022:
Steriwave® is a broad-spectrum antimicrobial providing targeted decolonization safely, effectively, quickly.
Broad-spectrum: Kills all pathogens (bacterial, viral, fungal).
Non-resistance forming.
Safe and painless treatment for patients within 5 minutes.
High compliance, clinician administered.
Suitable for repetitive use (e.g. healthcare workers, frequent hospital visitors, long-term care facilities, outpatients, dialysis patients).
Should be out soon
Matt Ross joined Proactive's Stephen Gunnion after the company sealed its first commercial deal with an NHS trust, starting with the Pontefract and Pinderfields hospitals. This follows a successful 500-patient elective hip and knee surgical quality initiative at Pontefract, leading to its adoption across the two hospitals.
The company aims to develop a business case with York health economics group and Mid Yorkshire for broader NHS adoption, based on the successful outcomes and health economics work.
Ross also highlighted Ondine's commercial momentum, including the deployment of Steriwave in eight new healthcare facilities and a growing international presence, now spanning 22 facilities in Canada and expanding in the UK and Spain.
The success is attributed partly to Steriwave's effectiveness in reducing the need for antibiotics, as demonstrated in a UK study, and its alignment with antimicrobial resistance efforts. Ondine plans to continue expanding in European markets, capitalize on its success in Canada, and explore potential in the United States through FDA phase three trials.
William (Bill) Kanz has been appointed as Senior Vice President, Engineering and Operations. In this role, Mr. Kanz will lead the engineering, operations and manufacturing teams, supporting Ondine's rapid commercial growth. Mr. Kanz is a certified quality engineer and lean six-sigma black belt, and brings a wealth of product management, manufacturing, and product development expertise to the company. Building on his operational management capabilities, he has developed some of the world's leading atherectomy devices, ultrasound catheters and blood pumps, and has 47 patents to his name.
Caetano Sabino, Ph.D. has been appointed as Ondine's Director of Research and Development, building on his extensive pharmaceutical sciences background and many years of development of light-activated therapeutics. Dr. Sabino is an expert in photodynamic disinfection, and has authored numerous important publications, textbooks, and patents in the field. He most recently held the position of CEO, BioLambda, Científica e Comercial LTDA, Sao Paulo, Brazil manufacturing industrial equipment for light-based disinfection in hospitals, clinics, and the food industry.
Carolyn Cross, CEO, Ondine Biomedical commented. "We will be providing an update on our upcoming dual priorities of continued significant commercial expansion and initiation of Phase 3 clinical trial in the USA with our partner, HCA Healthcare."
8.6651-9.34p
Should be our primary focus
Ondine Biomedical Inc on Thursday appointed a new interim chief financial officer, following the resignation of former CFO Joseph Errico.
The Vancouver-based life sciences company named Kwong Choo as interim successor. It noted Choo "brings more than 15 years of experience in international public companies on NASDAQ, the Toronto Stock Exchange, and the TSX Venture Exchange", as well as with "a number of private biotechnology and pharmaceutical companies".
Choo has been working with Ondine since 2022, while former CFO Errico was appointed to the role two months ago.
In other appointments, Ondine promoted Nikita Parkhaev to vice president, finance, having most recently held the position of controller.
It also appointed William Kanz as senior vice president, engineering and operations. In this role, Ondone said Kanz will lead the engineering, operations and manufacturing teams, supporting Ondine's rapid commercial growth.
Lastly, Ondine appointed Caetano Sabino as director of research and development, which it said "build[s] his extensive pharmaceutical sciences background and many years of development of light-activated therapeutics".
Looking ahead on an operations front, Chief Executive Officer Carolyn Cross commented: "We will be providing an update on our upcoming dual priorities of continued significant commercial expansion and initiation of phase 3 clinical trial in the US with our partner, HCA Healthcare."
Shares in Ondine Biomedical were down 2.5% to 9.51 pence each in London on Thursday aft
Hazbeen - the prouf in in the pudding
Adastra - do we expext to double like IMM?
RBC says target 60p
Research OBI to be amazed by the potential
Commercialization is now the key focus at OBI
Client accounts with open positions in this market expect the price to rise
Thank you
Mostly I am in OBI
but it has not ski-rocketed yet
So am in here
Only a matter of time
Ross also highlighted Ondine's commercial momentum, including the deployment of Steriwave in eight new healthcare facilities and a growing international presence, now spanning 22 facilities in Canada and expanding in the UK and Spain.
The success is attributed partly to Steriwave's effectiveness in reducing the need for antibiotics, as demonstrated in a UK study, and its alignment with antimicrobial resistance efforts. Ondine plans to continue expanding in European markets, capitalize on its success in Canada, and explore potential in the United States through FDA phase three trials.
Ondine Biomedical Inc - Vancouver-based life sciences company - Announces significant commercial progress to date in 2024, ahead of management's expectations. Says Ondine's Steriwave technology is deploying in eight new healthcare facilities, including six new hospitals. This brings the total number of hospitals to 22, representing a 38% increase year-to-date and nearly quadruple the number a year ago. Two orthopedic surgeon group practices in the Toronto area will also shortly begin offering Steriwave to patients undergoing elective orthopedic procedures.
Current stock price: 9.64 pence, up 4.2% in London on Friday