Ferronova nanotech image-guided therapy to drive new standards in cancer care in Australia, says GlobalData

Australian biotech startup Ferronova has recently secured A$11 million to advance its nanoparticle platform and help surgeons locate and remove complex gastrointestinal and brain tumors. International investment, coupled with government support, is expected to provide a solid foundation to accelerate research and advance nanotechnology frontiers in the treatment of all types of brain and gastric-esophageal cancers in Australia, says GlobalData, a leading data and analytics company.

Ireland’s Renew Pharmaceuticals led the fundraising of A$8 million, with a further A$3 million secured through a CRC-P grant.

Australia has a long history of pioneering medical solutions and Ferronova’s new generation technology, which uses polymer-coated magnetic nanoparticles, has the potential to be a game changer in Australia’s oncology sector. Against this backdrop, GlobalData forecasts Australia’s oncology tests market to grow at a compound annual growth rate of around 2% through 2030.

Shreya Jain, Medical Devices  Analyst at GlobalData, comments: “Cancers of the brain and gastrointestinal tract are known to usually have a poor prognosis and are drug resistant in most cases. Hence, they pose a significant challenge that necessitates quick and accessible innovations that can be tested in a clinical setting for routine patient care.”

Reportedly, Ferronova’s proprietary iron-oxide nanoparticle platform and Renew’s Verdye (Indocyanine Green) infrared dye were successfully tested in first human trials at the Royal Adelaide Hospital, Australia.

Ferronova claims that its new nanotechnology yielded promising preclinical results in a prostate cancer model and has the potential to have a significant impact on the aggressive brain cancers, enabling accurate tumor delineation.

Jain concludes: “Early detection of cancer often provides the best chance of a cure. Accurate diagnostic imaging technology will not only help in precisely defining target volumes and safety margins of complex cancers but also provide a comprehensive approach, allowing for the most effective focal treatment options for each patient.”

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