Today’s multi-billion-dollar radiopharmaceutical market is highly commoditized and completely generic. It has seen no significant product innovations in over two decades. The S/C formulation of N1177 promises to be a disruptive technology in the staging of various metastatic cancers. It is hard to consider the sentinel node application for N1177 without emphasizing the larger “platform” opportunities: a) General imaging agent to replace most intravascular indications for water soluble, iodinated contrast agents (e.g. Blood pool imaging agent); b) Organ perfusion imaging agent; c) Identification of areas of vascular inflammation / plaque / vulnerable plaque; d) Liver specific (Kupffer cell) imaging agent; e) Also CNS and autoimmune diseases where inflammation plays a central role.
NanoScan Imaging (“NSI”) was formed to continue the clinical development of N1177, a novel iodinated nanoparticulate CT (computed tomography) contrast agent targeting the $5.3 billion radiopharmaceutical market. With over $50 million invested in its development by Sterling Winthrop and Nycomed-Amersham for subcutaneous (S/C) administration, a significantly improved version of N1177, marked by a nearly two-thirds reduction in particle size, is now preparing to re-enter clinical trials. N1177 has an open, expandable investigational new drug (IND) application and newly filed IP that promises protection through mid 2028. Management believes its regulatory path will be straightforward. NSI is already talking to acquisition candidates and plans to sell N1177 to a major diagnostic pharmaceutical company in as little as two to three years. The Company’s value at that time could exceed $100 million, providing investors with an ROI of > 10X.