Genovis acquires exclusive license for upconverting nanoparticles and plans launch within 1 year

Genovis acquires exclusive license for upconverting nanoparticles and
plans launch within 1 year

Genovis has acquired an exclusive license for a new technology that uses
so-called upconverting nanoparticles as contrast agents in optical
biomedical imaging. Genovis is acquiring the license from Lumito, a LUAB
company, including an option to acquire the technology as a whole.

The license grants exclusive rights to upconverting nanoparticles and to
the technology required to detect particles in biological material.
Genovis has already developed a technique for coating nanoparticles with
a nontoxic surface that provides stability and good distribution in
various organs and biological tissues. By combining Genovis' technology
with the acquired license Genovis will soon be able to offer a product
on the technology front. The goal is to commercialize the technology
within one year, primarily for the preclinical market, and ultimately to
evaluate the clinical potential of this technology.

“For Genovis the license means that we can be on the leading edge of a
new growing market with large potential. We will expand our customer
base and complement our portfolio with yet another unique product. We've
had the pleasure of learning about this exciting new technology at an
early stage through Professor Stefan Andersson-Engels and his research
group, who invented the concept. By combining their knowledge of optics
with Genovis' knowledge of nanoparticles within biomedicine we will be
able to create a commercial product relatively quickly. We have already
noticed interest in new optical nanoparticles, so we are truly looking
forward to launching the product,” says Sarah Fredriksson, CEO of
Genovis.

“By combining the technology that we developed at the Division of Atomic
Physics at Lund University with Genovis' extensive expertise in coating
and functionalization of nanoparticles, we foresee the potential for
exciting new opportunities to open up in optical biomedical imaging.
Genovis appears be a highly suitable partner for commercializing this
technology, so we are extremely pleased about this agreement,” says
Stefan Andersson, professor of physics at Lund University.

“We believed in the commercial potential of this invention from
Professor Stefan Andersson and his fellow researchers already at an
early stage. For Lumito, the collaboration and license deal with Genovis
mean a commercial product with large potential can be developed and
fast-tracked to a growing market,” says Christine Widstrand, Senior
Advisor, LUAB.

LUAB, a company wholly owned by Lund University, is tasked with
assisting researchers at the university to bring their research findings
and ideas to the market. LUAB assists and finances startup companies and
licensing deals, but also own, sells and manages shares in companies
that have their origin at Lund University. LUAB currently holds a stake
in about 35 companies.

MORE ON OPTICAL IMAGING

About 15 companies market the equipment required for optical imaging in
the preclinical setting. Approximately 3,000 instruments are installed,
with about 800 added annually. Genovis' new technology for the use of
nanoparticles as contrast in preclinical research mainly focuses on this
customer group. The market for optical contrast agents intended for
molecular imaging in preclinical applications is worth about USD 80
million and expected to grow around 16% annually over the next few
years.

Optical imaging is one of two technologies that make it possible to
follow the progress of a substance in tissue all the way down to the
molecular level, which is used in situations such as studying in detail
how a medication works and acts. Increasingly stringent demands from
regulatory authorities require the mechanism of action of a medication
to be carefully studied and verified. Biomedical imaging is a good
technology for studying mechanism of action and dynamic processes over
time. The dominant methods in the field are SPECT1 and PET1 which use
radionuclides as markers. In the past, optical technology has
demonstrated lower resolution and less sensitivity in deep tissue than
PET and SPECT, but the upconverting technology substantially improves
both properties. Since optical imaging is simpler and less expensive,
and does not depend on radionuclides, the current trend is already
toward a sharp increase in optical methods. Moreover, the upconverting
nanoparticles are not at all as toxic as other optical contrast agents
(quantum dots). With the improved performance associated with the
upconverting technology, optical imaging will capture new market share.

Positron emission tomography (PET) is a medical imaging technique based
on the use of radioactively labeled molecules, used for functions such
as monitoring metabolism in an organ or following how various substances
move throughout the body. SPECT is an alternative to PET, but uses
different radioactive substances.

For more information, please contact: Sarah Fredriksson, CEO, Genovis AB
Tel: +46 46 10 12 35
sarah.fredriksson@genovis.com (sarah.fredriksson@genovis.com)