CORRECTION: Biotechs Working on Potential Preventive Measures and Cancer Treatments

NEW YORK, April 22, 2021 /PRNewswire/ -- Cancer research and development are a major part of the biotechnology industry, and there is always room for improvement and growth. Recently, biotech company Perimeter Medical Imaging Al (TSXV: PINK) (OTC: PYNKF) revealed a revolutionary way for surgeons to be able to assess if a cancer has been fully removed, while still in the operating room. Syndax Pharmaceuticals (NASDAQ: SNDX), Nektar Therapeutics (NASDAQ: NKTR), SELLAS Life Sciences Group (NASDAQ: SLS), and Celldex Therapeutics (NASDAQ: CLDX) are also leading companies with an exceptional background in cancer research and are working constantly to introduce their latest innovations in preventing and/or providing solutions for cancer immunotherapies.

Perimeter Medical Imaging (TSXV: PINK) (OTC: PYNKF), a biotech company that specializes in medical imaging and artificial intelligence, is dedicated to transforming the process of cancer surgeries by utilizing advanced, real-time, and ultra-high resolution imaging tools. The company is named after the service they aim to provide: a combination of medical imaging and artificial intelligence that examines the perimeter of the cancer tissue, which best identifies the margin of the removed cancer tissue and sees whether or not cancerous tissue may still be left behind. With evolutionary medical tools, Perimeter Medical hopes to address unmet medical needs and change the process of cancer treatments and prevent the resurfacing of such conditions. Perimeter is beginning with breast cancer, but hopes its technology will be of use for all kinds of different cancers in the future.

Jeremy Sobotta, CEO at Perimeter Medical, stated, "our novel technology is addressing an unmet need in breast cancer surgery. As we have heard from our clinician users, we believe our innovative OCT imaging system addresses an unmet need currently in the OR, and is ideally suited to help surgeons visualize the margins of an excised tissue specimen 'real-time' during a clinical procedure."

Perimeter Medical's latest technology, the Optical Coherence Tomography (OCT) system, can see 1-2mm below the surface of an excised tissue specimen. It has been reported that breast lumpectomy surgeries have a 25% chance for re-operation because the cancer does not get fully removed the first time. This takes a toll both on the patient and the health care system; however, the OCT tool is looking to become an important change to the way cancer operations are done. This tool has the potential to change the future of cancer treatments and reduce the likelihood of a second operation. Additionally, the OCT tool takes only 10 minutes to provide point-of-care to the patient, whereas, historically, standard assessment practices have taken 2 to 7 days. Perimeter Medical has future plans to expand this development but is currently focused on the US due to limited use of the OCT device.

In that line, on March 10, Perimeter announced that it had received 510(k) clearance from the FDA for its OCT Imaging System. This clearance allows the company to offer the commercial-ready OCT system to the US market.

To enhance its AI, Perimeter has initiated a 400-patient study at leading breast cancer centers to collect images of breast cancer tumors. The next step will be a randomized, multi-site pivotal study with about 600 patients to test the company's AI against the current standard of care, as well as to assess the impact on re-operation rates for patients undergoing breast conservation surgeries.

Perimeter Medical also recently announced the successful completion of its warrant acceleration. The company has received approximately $8.3 million from exercising close to 4.3 million warrants since its last quarterly financial report in September 2020.

Other Developments in Cancer Research Could Lead to Important Changes

Syndax Pharmaceuticals (NASDAQ: SNDX) announced last April that the biotech company was in the early stages of a potential blood cancer treatment. When Syndax introduced this study, it was performed on six patients with a complex form of leukemia. The cancer treatment is meant to disrupt the interaction between a protein called menin and a gene referred to as MLL1. Three of the six patients had rearrangements of the MLL1 gene and all three had different responses to the treatment. However, it was noted that clinical activity was achieved quickly after one 28-day cycle and is particularly encouraging for patients with few treatment options and a complex condition. 

Nektar Therapeutics (NASDAQ: NKTR), a clinical-stage biopharmaceutical company, is working on developing novel therapies for cancer and auto-immune disease, along with commercializing its findings. In February 2021, Nektar announced a joint agreement with SFJ Pharmaceuticals to support the development of Bempegaldesleukin (BEMPEG). The joint venture will see the companies work together on a Phase 2/3 registrational clinical study of BEMPEG plus pembrolizumab in patients with certain types of head and neck cancer.

SELLAS (NASDAQ: SLS) is described as a clinical biopharmaceutical company that is invested in the development of novel cancer immunotherapies. A NYC-based company, SELLAS is invested in the development of next-generation immuno-oncology drugs and has recently entered into a licensed agreement with 3DMed. Together, the companies are committed to bringing innovative drugs to the market and are in the approval stage for their most recent discovery.

Celldex Therapeutics (NASDAQ: CLDX), similar to other biotechnology companies, is running a successful operation focused on several immunotherapy technologies, in addition to other cancer-targeting biologics. The company has been involved in several clinical trials for products that target breast cancer, metastatic melanoma, lung cancer, solid tumors, ovarian cancer, and beyond. Most recently, Celldex announced it was expanding clinical development on its candidate for the chronic skin disease prurigo nodularis.

Companies like Perimeter Medical Imaging are working around the clock on new technologies and developments for the cancer industry, giving hope to many as the battle against cancer continues.

For more information on Perimeter Medical Imaging, click here.

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