WORDS FROM CEO

SpectraCure2207 (kopia)

The second quarter saw several encouraging developments.

 

Dialogues with reputable hospitals that may be included in the ongoing trial are proceeding according to plan. Discussions remain positive, and I am pleased that we have secured contracts with additional hospitals that can start recruitment before the end of the year. Many pieces need to come together before the patient recruitment can commence, and the team is working intensively to ensure that the process moves forward promptly.

 

The urologist Göran Ahlgren was recruited as SpectraCure’s medical advisor. I am proud that Göran wants to be part of our journey and that we will have access to his expertise as an experienced urologist and researcher. We have good working relations where he, among other things, supports us in our work on the clinical trial. 

 

I would also like to welcome SpectraCure’s new board members who were elected at the Annual General Meeting in May: Jörgen Wennberg, Tomas Kramar, Jesper Freij and Masoud Khayyami. Jörgen Wennberg was elected Chairman of the Board. In addition, the board members Homer Pien and Katarina Svanberg were re-elected. The new Board of Directors has a broad competence and we have already established a good cooperation.

 

SpectraCure’s patent application aiming to improve the company’s IDOSE® technology was approved by the European Patent Office, EPO. The patent protects a method of detecting and compensating for bleeding in the tissue, which could otherwise affect how the laser light is directed into the prostate tissue. The patent has already been approved by the US Patent Office.

 

In June, an EU grant of EUR 125,000 was awarded for an industrialization project. The objective of the project is to prepare SpectraCure’s P18 system for series production by shortening the manufacturing time. I look forward to taking important steps together with Philips Innovation and CSEM SA towards a higher future level of automation, significantly reducing the manufacturing cost per system. 

 

In a previously completed project, SpectraCure collaborated with MedComs GmbH to integrate its medical imaging technology with SpectraCure’s IDOSE® system. The integration is now approved by the Food and Drug Administration (FDA) for use in the US clinical trial. The imaging technology simplifies the user’s workflow by facilitating the needle placement in the prostate tissue. It also makes it easier to achieve a higher precision in the treatment.

 

In July, it was announced that I have decided to resign from my position as CEO of SpectraCure. I have always had a long-term ambition for the assignment, and I continue to see SpectraCure as a very exciting company with the potential to fill an important need and purpose. The reason behind my decision is that I was offered a CEO position that, after consideration, I could not turn down. I will remain with the company until a solution is found and a successor is in place.

 

The whole team has now returned after the summer break, and we are looking forward to an autumn where we, among other things, will include more hospitals in the clinical trial to step up the rate of recruitment, continue the industrialization project together with Philips Innovation and CSEM SA, and actively work to raise awareness of SpectraCure’s among reputable hospitals and urologists. The annual Urology Days in October present one such opportunity. Together, we continue the important effort to achieve our common goal – to offer patients with recurrent prostate cancer a better treatment option.


Lund, August 2022

 

Johan Folkunger
CEO of SpectraCure AB (publ)