Convert Pharmaceuticals Company Profile

Background

Convert Pharmaceuticals, founded in 2017 and headquartered in Liège, Belgium, is a clinical-stage biotech company specializing in the development of hypoxia-activated prodrugs (HAPs). These innovative therapies are designed to exploit the unique conditions of the tumor microenvironment, particularly low oxygen levels, to selectively target and destroy cancer cells while minimizing harm to healthy tissues. The company's mission is to overcome cancer treatment resistance by leveraging tumor hypoxia, a common characteristic in approximately 50% of solid tumors, thereby improving patient outcomes in oncology.

Key Strategic Focus

Convert Pharmaceuticals' strategic focus centers on:

• Development of Hypoxia-Activated Prodrugs (HAPs): Creating prodrugs that remain inert until they reach hypoxic tumor regions, where they convert into potent anti-cancer agents.

• Biomarker-Driven Patient Selection: Utilizing proprietary biomarkers to identify patient populations most likely to benefit from HAP therapies, enhancing treatment efficacy and safety.

• Targeting Resistant Solid Tumors: Focusing on cancers such as pancreatic, ovarian, breast, prostate, and head and neck squamous cell carcinoma, which often exhibit hypoxic regions contributing to treatment resistance.

Financials and Funding

Convert Pharmaceuticals has secured significant funding to advance its research and development efforts:

• Seed Funding (July 2017): Raised €500,000 to initiate operations.

• Series A Funding (February 2018): Secured €13.6 million from investors including Droia Ventures, Eurostars, and the Walloon Region, supporting preclinical trials.

• Grant (March 2023): Received a €2.5 million non-dilutive grant from the European Innovation Council (EIC) Accelerator program, facilitating clinical trials and further development of lead candidates.

Pipeline Development

The company's lead candidate, CP-506, is a hypoxia-activated prodrug currently undergoing clinical evaluation:

• TUMAGNOSTIC Phase I-IIa Clinical Trial: Assessing the safety, tolerability, and optimal dosing of CP-506 as a monotherapy and in combination with other cancer treatments.

• Target Indications: Solid tumors characterized by hypoxic regions, including pancreatic, ovarian, breast, prostate, and head and neck cancers.

• Anticipated Milestones: Completion of Phase I-IIa trials and progression to later-stage clinical trials, contingent upon favorable outcomes.

Technological Platform and Innovation

Convert Pharmaceuticals distinguishes itself through its innovative approach to cancer treatment:

• Proprietary Hypoxia-Activated Prodrugs (HAPs): Developing prodrugs that become active specifically in hypoxic tumor environments, enhancing efficacy and reducing systemic toxicity.

• Biomarker Development: Identifying and utilizing biomarkers to select patients most likely to respond to HAP therapies, personalizing treatment approaches.

• Scientific Methodologies: Integrating insights into tumor biology with expertise in drug and biomarker development to create targeted therapies.

Leadership Team

• Philippe Lambin, M.D., Ph.D. – Chief Executive Officer: A clinician and radiation oncologist with extensive experience in tumor hypoxia and precision medicine.

• Ludwig Dubois, Ph.D. – Chief Scientific Officer: Expert in preclinical studies on tumor hypoxia with over 90 publications in the field.

• Jan Theys, Ph.D. – Chief Technology Officer: Specialist in prokaryotic living medicine and tumor microenvironment research, with over 20 years of experience.

• Brice Van Eeckhout – Chief Operating Officer: Entrepreneur with a background in business engineering and international management, experienced in building and managing startups.

• Anke Smets – Clinical Trial Manager: Over 17 years of experience in clinical research, managing global clinical trials from start-up to close-out.

• Hélène Devroye – Clinical Development Manager: Experienced clinical project manager with knowledge in Good Clinical Practice (GCP) and Good Manufacturing Practice (GMP), advising on clinical development strategies.

Competitor Profile

Market Insights and Dynamics

The oncology therapeutics market is highly competitive, with numerous companies developing innovative treatments for solid tumors. The focus on hypoxia-targeted therapies is gaining traction due to the role of tumor hypoxia in treatment resistance.

Competitor Analysis

• EVA Pharma: Manufacturer of pharmaceutical products with a broad portfolio, including oncology treatments.

• Procaps: Pharmaceutical company specializing in drug development and manufacturing, with a presence in the oncology sector.

• Sumitomo Pharma: Global pharmaceutical company involved in the development and sale of pharmaceuticals, including cancer therapies.

• Alkem Laboratories: Pharmaceutical company operating globally, offering a range of products, including oncology drugs.

Strategic Collaborations and Partnerships

Convert Pharmaceuticals has established significant collaborations to enhance its research and development capabilities:

• European Innovation Council (EIC) Accelerator Program: Secured a €2.5 million grant to support clinical trials and product development.

• Droia Ventures: Participated in Series A funding, providing financial support and strategic guidance.

• Eurostars and Walloon Region: Contributed to early-stage funding, facilitating initial research and development activities.

Operational Insights

Convert Pharmaceuticals' strategic considerations include:

• Focus on Hypoxia-Activated Prodrugs: Differentiating itself by targeting tumor hypoxia, a key factor in treatment resistance.

• Biomarker-Driven Approach: Enhancing treatment efficacy through patient selection based on proprietary biomarkers.

• Clinical Development Progress: Advancing lead candidate CP-506 through clinical trials to establish safety and efficacy.

Strategic Opportunities and Future Directions

Convert Pharmaceuticals aims to:

• Advance Clinical Trials: Complete ongoing Phase I-IIa trials and progress to later-stage trials for CP-506.

• Expand Pipeline: Develop additional hypoxia-activated prodrugs targeting various solid tumors.

• Forge Strategic Partnerships: Collaborate with industry leaders to enhance research capabilities and market reach.

• Commercialization: Prepare for the commercialization of successful therapies, bringing innovative treatments to patients.

Contact Information

• Website: Convert Pharmaceuticals

• LinkedIn: Convert Pharmaceuticals

• Headquarters: Liège, Belgium