R600m deal to develop theranostics cancer treatment
A breakthrough in cancer diagnosis and treatment and the subsequent R600m deal to take it to market proves not only that drug research and development is alive and well in South Africa, but that collaboration between the government and the private sector is not only possible but can deliver positive results.
BGM Pharma has entered into a landmark partnership with the South African Nuclear Energy Corporation (Necsa) and the University of Cape Town (UCT), to bring GluCABTM, a new theranostic, to market.
Taking a molecule from doctoral thesis to clinical testing for the global market is a huge milestone for the country and indeed the local healthcare market, says co-founder and president of BGM Pharma, Martin Magwaza.
“Although we are a few years from market readiness, the initiation of clinical studies for a local technology is a significant development and represents progress in an area of healthcare that remains a major threat to people throughout the world.”
Initially the new theranostic will be used to seek, identify and treat solid mass tumours such as those found in breast and ovarian cancer.