Prior to the upcoming Phase 2 study, SpectraCure has today extended the agreement with University College London Hospital (UCL) for two years. The agreement is intended to cover the entire phase 2 for treatment of patients with recurrent prostate cancer, using the company's photodynamic therapy (PDT) method. The purpose of the Phase 2 study is continued evaluation of safety and clinical benefit of PDT treatment of prostate cancer according to SpectraCure’s clinical program.
As planned, the contract terms and costs for phase 2 are essentially unchanged compared to the contract terms that have applied to the successful phase 1 study. As before, this means a part with a fixed cost per calendar year, as well as a variable part for each patient who is treated in the clinical study. The funding is covered by the Preferential rights issue made in November 2018.
This was the last agreement that needed to be signed prior to the Phase 2 study. The agreements previously signed with the other study hospitals, the Princess Margaret Cancer Centre in Toronto, and the University of Pennsylvania Hospital in Philadelphia, already include the Phase 2 study.
