EXACT Therapeutics (EXTX) Status update summary

Strategic partnership and capital update

• Secured $13 million in private placement, with $7 million from a global medical technology leader, GE HealthCare, as cornerstone investor and partner, supporting clinical and technology development.

• Four-year collaboration with GE HealthCare focuses on abdominal cancers, especially pancreatic cancer, with GE providing probes and consoles for clinical studies.

• Joint development agreement with GE HealthCare covers IP and hardware, positioning both parties for future commercialization.

• Private placement provides funding to reach well beyond proof-of-concept in pancreatic cancer, with warrants for potential additional investment.

Clinical and technology progress

• Acoustic Cluster Therapy (ACT) demonstrated a 10x increase in tumor shrinkage in liver metastasis patients compared to standard care, with excellent safety profile.

• No safety events observed in initial clinical studies, indicating a clean safety profile.

• Phase II EnACT study in pancreatic cancer is funded, with initial safety readout expected in H1 2025, interim analysis in H1 2026, and final results in H1 2027.

• Preclinical models in pancreatic cancer showed 50% complete tumor remission when ACT was added to standard care, compared to 11% with chemotherapy alone.

Technology and innovation

• ACT enables targeted, organ-specific drug delivery using a noninvasive ultrasound platform.

• ACT process involves a two-step ultrasound activation and enhancement, prolonging targeted delivery of therapeutics.

• Broad intellectual property coverage, including a recently granted immuno-oncology patent.