Renew Pharmaceuticals Ltd.

ADELAIDE, Australia--(BUSINESS WIRE)-- Australian biotech company Ferronova announced today that it has signed a licensing agreement with the Purdue Research Foundation (PRF) for the application of PRF’s patented Fibroblast Activation Protein (FAP) inhibitor in magnetic resonance imaging (MRI) and MRI-guided therapies. The licensing agreement will bring together Ferronova’s patented FerroTrace® platform, a super-paramagnetic iron-oxide nanoparticle (SPION) formulation, and PRF’s patented FAP inhibitor in a combination to be applied in targeted radiotherapy of difficult cancers with complicated treatment margins such as glioblastoma, prostate cancer and pancreatic cancer. “Purdue researchers are the driving force behind world changing innovations, and our partnership with Ferronova serves as yet another testament to our dedication to partnering with companies that can improve the world and save lives with Purdue technologies,” said Brooke Beier, senior vice president of Purdue Innovates. “This is an example of intellectual property protection from the laboratory of a world-renowned Purdue innovator, and we are excited about the boundless potential of many more Purdue technologies that will make an impact.” In recent years, FAP has received increasing attention as a cancer treatment target, due to its prominent expression in solid tumours but virtual absence from healthy tissues.1 Led by renowned researcher Philip Low, the Presidential Scholar for Drug Discovery and Ralph C. Corley Distinguished Professor for Chemistry at the Purdue University College of Science’s Department of Chemistry, researchers at Purdue University developed an FAP inhibitor that works by inhibiting a pathway associated with the formation of cancer-associated fibroblasts (CAFs), cells that regulate tumour growth. In addition to reducing CAF formation, the inhibitory agent also reduces collagen I formation, a protein that is associated with tumour growth.2 “This licensing and collaboration agreement is great news as it signals a new approach in targeted radiotherapy for the treatment of glioblastoma,” said Associate Professor Hien Le, a radiation oncologist at South Australia (SA) Health, Head of Research at the Department of Radiation Oncology at Royal Adelaide Hospital (RAH), and Associate Professor at the University of South Australia. “We look forward to the collaboration and progressing the new approach to the clinic to see how the combination of FerroTrace® and the FAP inhibitor will impact practice in glioblastoma.” Ferronova is collaborating with the University of South Australia and the University of Sydney on the development of FerroTrace® and the FAP inhibitor. The program is funded by a Cooperative Research Centres Project (CRC-P) grant with other partners including Siemens, The Australian Bragg Centre for Proton Therapy and Research, the South Australian Health and Medical Research Institute (SAHMRI) and the University of Sydney. Glioblastoma is the most common and aggressive primary malignant tumour of the central nervous system, and the current standard of care comprises cytoreductive surgery followed by adjuvant chemoradiotherapy. However, despite aggressive chemoradiotherapy and maximum surgical resection, survival in patients with glioblastoma remains poor with a median overall survival of 13.5 months, and 5-year survival rates of only 5.8%.3 “There is an urgent need for glioblastoma-specific agents to distinguish between glioblastoma and surrounding normal tissue,” noted Ferronova CEO, Stewart Bartlett. “We are hopeful that this collaboration will change that, and in future, have a positive impact on the management of patients with this tragic disease.” About Ferronova Ferronova is an Australian biotechnology company with a vision to give everyone diagnosed with cancer their best chance to become cancer free. Its shareholders include Renew Pharmaceuticals, Uniseed, Artesian Ventures, the South Australian Venture Capital Fund (SAVCF), Australian Unity, the University of South Australia, PAN Ventures, Powerhouse Ventures, the University of Wellington in New Zealand, and the University of Sydney. Grant assistance has been provided by the SA Government since 2016, the Federal Government’s BioMedTech Horizons Program operated by MTP Connect, and the Australian Government CRC-P program. For more information go to: About Purdue Research Foundation Purdue Research Foundation is a private, nonprofit foundation created to advance the mission of Purdue University. Established in 1930, the foundation accepts gifts; administers trusts; funds scholarships and grants; acquires and sells property; protects and licenses Purdue's intellectual property; and supports creating Purdue-connected startups on behalf of Purdue. The foundation operates Purdue Innovates which includes the Purdue Office of Technology Commercialization, Incubator, Startup Foundry and Ventures. The foundation manages the Purdue Research Park, Discovery Park District, Purdue Technology Centers and Purdue for Life Foundation. For more information on licensing a Purdue innovation, contact the Office of Technology Commercialization at otcip@prf.org. For more information about involvement and investment opportunities in startups based on a Purdue innovation, contact Purdue Innovates at purdueinnovates@prf.org. 1 Lindeman SD, et al. J Nucl Med 2023;64(5):759-766. 2 Purdue Research Foundation – Fibroblast Activation Protein (FAP)-Targeted Antifibrotic Therapy. Available at . Accessed of 3 August 2023. 3 Marenco-Hillembrand L, et al. J Neurooncol 2020;147:297-307.

ADELAIDE, Australia, Jan. 22, 2023 /PRNewswire/ -- Australian biotech company Ferronova announced today it has secured a further A$11 million to progress the company's nanoparticle platform to assist surgeons to more accurately locate and remove malignant cells during treatment of gastrointestinal and brain tumors. Irish company Renew Pharmaceuticals Limited (Renew) led an A$8 million capital raise, with a further A$3 million secured via an Australian Government Co-operative Research Centers Project (CRC-P) grant.* Existing Ferronova shareholders, led by Uniseed with Artesian Venture Partners also participated. The latest round of funding for the Adelaide, South Australian headquartered company builds on seed capital and Series A funding of $4.6 million. Ferronova Chair Dr John Parker said the international investment from Renew Pharmaceuticals and existing investors, and the CRC-P grant has created a strong platform to accelerate trials in gastrointestinal and brain cancers. "Research now shows one in two people will develop cancer in their lifetime and thanks to new technology, awareness and screening programs cancers are being detected earlier. Improvement in precision imaging, surgery, and therapy are now essential to improving long term outcomes. Australia has a strong track record in developing ground-breaking medical solutions and I believe Ferronova has the capability to be a game changer in this field. "We are delighted to welcome Renew Pharmaceuticals as a shareholder. They are a world leader in the provision of dye-based contrast agents for image guided cancer surgery, and this collaboration will help us to progress our trial program and ultimately deliver our products to the 80+ countries that Renew's distribution network supports." Ferronova CEO Stewart Bartlett said raising capital in a challenging environment and winning a CRC-P grant was a credit to the strength of Ferronova's technology. "Surgery continues to be the only curative therapy for most solid tumor cancers, with the best outcomes when they are confined to a primary tumor and nearby lymph nodes. However, even in these early-stage patients, identifying and removing high-risk lymph nodes is a challenge, especially in upper gastrointestinal cancers which have high rates of cancer recurrence and poor survival. "Ferronova's proprietary iron-oxide nanoparticle platform and Renew's Verdye (Indocyanine Green) infrared dye were successfully tested in first human trials at the Royal Adelaide Hospital, Australia. The new funding will be applied to expanding the trial program to brain and gastric-esophageal cancers, which have among the poorest outcomes of all solid tumors." Declan Cassells, Managing Director at Renew, said Ferronova's novel approach to address the most challenging gastrointestinal and brain cancers was one of the elements that attracted Renew to invest in Ferronova. "Ferronova and Renew have a common mission to improve patient outcomes through image guided surgery. We believe that through this investment we will accelerate the clinical programs and approvals of Renew's fluorescence dye combined with Ferronova's magnetic nanoparticles for surgical use in the treatment of cancers which have some of the worst survival rates, so that we can make this unique solution available to patients through our global distribution network." Notes to Editors: *partnering with: Australian Bragg Centre for Proton Therapy and Research Limited; Siemens Healthcare Pty Ltd; South Australian Health and Medical Research Institute Limited; The University of Sydney; and the University of South Australia. About Ferronova Ferronova is an Australian medical technology company with a mission to improve outcomes in early stage cancer patients. Its shareholders include leading early stage commercialisation investor Uniseed, the University of South Australia, Artesian Ventures and the South Australian Venture Capital Fund (SAVCF), Powerhouse Ventures, the University of Wellington in New Zealand, the University of Sydney, PAN Ventures, and ex-Macquarie Bank executive Allan Moss. Grant assistance has been provided by the SA Government since 2016 and through the Federal Government's BioMedTech Horizons Program, operated by MTP Connect. In 2023, Ferronova was awarded an Australian Government CRC-P grant to progress a nanoparticle formulation through to a Phase 1b brain cancer clinical trial. For more information go to: About Renew Pharmaceuticals Limited Renew Pharmaceuticals Limited is a wholly owned subsidiary of Renew Health Limited. The award winning, healthcare company established in 2014 in Ireland by founders who have a vision to discover, develop and commercialise pioneering technologies and solutions to improve lives. Renew Health Limited, Renew Pharmaceuticals Limited, and Diagnostic Green are all members of the Renew Group. Renew's Verdye is sold by the Diagnostic Green business worldwide. For more information on our fluorescence portfolio, go to SOURCE Ferronova Pty. Ltd

Irish company Renew Pharmaceuticals Limited (Renew) led an A$8 million capital raise, with a further A$3 million secured via an Australian Government Co-operative Research Centers Project (CRC-P) grant Ferronova CEO Stewart Bartlett said raising capital in a challenging environment and winning a CRC-P grant was a credit to the strength of Ferronova's technology. (Credit: National Cancer Institute on Unsplash) Australian biotech company Ferronova announced today it has secured a further A$11 million to progress the company’s nanoparticle platform to assist surgeons to more accurately locate and remove malignant cells during treatment of gastrointestinal and brain tumors. Irish company Renew Pharmaceuticals Limited (Renew) led an A$8 million capital raise, with a further A$3 million secured via an Australian Government Co-operative Research Centers Project (CRC-P) grant. Existing Ferronova shareholders, led by Uniseed with Artesian Venture Partners also participated. The latest round of funding for the Adelaide, South Australian headquartered company builds on seed capital and Series A funding of $4.6 million. Ferronova Chair Dr John Parker said the international investment from Renew Pharmaceuticals and existing investors, and the CRC-P grant has created a strong platform to accelerate trials in gastrointestinal and brain cancers. “Research now shows one in two people will develop cancer in their lifetime and thanks to new technology, awareness and screening programs cancers are being detected earlier. Improvement in precision imaging, surgery, and therapy are now essential to improving long term outcomes. Australia has a strong track record in developing ground-breaking medical solutions and I believe Ferronova has the capability to be a game changer in this field. “We are delighted to welcome Renew Pharmaceuticals as a shareholder. They are a world leader in the provision of dye-based contrast agents for image guided cancer surgery, and this collaboration will help us to progress our trial program and ultimately deliver our products to the 80+ countries that Renew’s distribution network supports.” Ferronova CEO Stewart Bartlett said raising capital in a challenging environment and winning a CRC-P grant was a credit to the strength of Ferronova’s technology. “Surgery continues to be the only curative therapy for most solid tumor cancers, with the best outcomes when they are confined to a primary tumor and nearby lymph nodes. However, even in these early-stage patients, identifying and removing high-risk lymph nodes is a challenge, especially in upper gastrointestinal cancers which have high rates of cancer recurrence and poor survival. “Ferronova’s proprietary iron-oxide nanoparticle platform and Renew’s Verdye (Indocyanine Green) infrared dye were successfully tested in first human trials at the Royal Adelaide Hospital, Australia. The new funding will be applied to expanding the trial program to brain and gastric-esophageal cancers, which have among the poorest outcomes of all solid tumors.” Declan Cassells, Managing Director at Renew, said Ferronova’s novel approach to address the most challenging gastrointestinal and brain cancers was one of the elements that attracted Renew to invest in Ferronova. Source: Company Press Release