We are planning a new investment round and are preparing for the submission of European grant proposals.

During its three first years of existence, Convert has been able to: 

• provide strong pre-clinical therapeutic efficacy and biomarker data for >15 different tumor models
• develop CP-506 into a manufacturable drug product 
• successfully meet all pre-clinical requirements for its clinical launch
• protect its innovative drug and the use thereof for cancer treatment in monotherapy and in combination with current standard treatments
• secure non-dilutive funding to accomplish the above and support future Clinical Development activities
• define a winning strategy based on the learnings from past HAPs experiments

The company is now about to launch its first-in-human clinical trial where safety of both monotherapy and combination with immunotherapy will be studied. After successful completion of this trial, a Phase II clinical trial will need to be designed to prove efficacy of the drug.

Based on current preclinical findings, we are confident that CP-506 will yield results in monotherapy as well as in combination with standard treatments, such as radiotherapy, chemotherapy or immunotherapy. A market analysis delivered to Convert Pharmaceuticals by EKLO (July 2020) concluded that for monotherapy alone in major markets and for only five cancer types, CP-506 could face a market of 824.000 potential cases every year. The market for CP-506 in combination with conventional treatments is even larger as the selection based on biomarkers could be less stringent in these cases.

The drug has been successfully developed by Convert Pharmaceuticals and is well protected by two patents.

CP-506 has first been patented as an exemplary compound within a family of compounds disclosed in a PCT application from Auckland University. This patent application has been transferred to Convert Pharmaceuticals in 2019 and has been granted in strategic countries (e.g. EU, US, China, New-Zealand, and Canada) to protect CP-506 and CP-506-like compounds and their use in cancer, alone or in some defined combinations were rapidly obtained.

The company didn’t stop its certification process there and has since then submitted a second PCT application through which it has consolidated its patent position on novel uses of CP-506-like compounds related to:

• Updated process for producing CP-506 and related metabolites
• Animal-/cell-based models data

This application is now going through its national entry phase in major EU countries, the US, Japan and China.

Currently there is no direct competition as no other HAP has arrived to the market. Indirect competition are other tumor-specific drugs and treatments, however, in general these have poor outcomes in tumors with hypoxic fraction. Nevertheless, CP-506 can be used in combination with other types of cancer therapy and will therefore enhance the anti-tumor effect of conventional anti-cancer treatments.