Invion Limited has partnered with Protect Animal Health to explore Photosoft™, a novel photodynamic therapy, as a treatment for cancer in companion animals, targeting a booming pet cancer market.
- Collaboration agreement signed between Invion and Protect Animal Health
- Protect to fund and conduct cancer treatment studies in pets using Photosoft compounds
- Companion animal cancer market projected to reach US$12.1 billion by 2034
- Invion retains all rights to Photosoft technology and new intellectual property
- Potential for future co-development and commercialisation partnership
A New Frontier in Pet Cancer Care
Invion Limited (ASX, IVX), an Australian life-sciences company known for its innovative Photosoft™ photodynamic therapy technology, has announced a strategic collaboration with Taiwanese veterinary pharmaceutical company Protect Animal Health Inc. This partnership aims to evaluate Photosoft's potential in treating cancer in companion animals, a rapidly growing market segment driven by increasing pet ownership and rising cancer incidence among aging pets.
Protect Animal Health will fund and conduct a series of in vitro, in vivo, and clinical studies using Photosoft compounds supplied by Invion. These studies will assess the efficacy and safety of this novel therapy in pets, particularly dogs, where nearly half over the age of 10 are diagnosed with cancer. The collaboration could pave the way for a co-development agreement, potentially accelerating commercialisation of Photosoft in veterinary oncology.
Capitalising on a Booming Market
The global pet cancer therapeutics market is forecast to grow at a compound annual growth rate of 9.7%, expanding from an estimated US$4.8 billion in 2024 to approximately US$12.1 billion by 2034. This growth reflects both the increasing prevalence of cancer in companion animals and the demand for advanced, less invasive treatment options.
Photosoft’s photodynamic therapy offers a promising alternative to traditional cancer treatments. By using non-toxic photosensitisers activated by light to selectively destroy cancer cells and stimulate an immune response, Photosoft aims to achieve complete tumour regression with minimal side effects. This approach could address the limitations of current therapies, which often involve lengthy treatment courses and suboptimal outcomes.
Strategic Synergies and Future Prospects
Invion’s Executive Chairman and CEO, Prof Thian Chew, highlighted the strategic value of this collaboration, noting that expanding Photosoft’s application beyond human health aligns with the company’s broader partnership-driven strategy. Protect’s CEO, Haolin Sung, expressed optimism about Photosoft’s unique mechanism of action and its potential to open new treatment pathways in veterinary medicine.
Invion retains all rights to the Photosoft technology and any new intellectual property arising from the collaboration, positioning the company to benefit from future commercial opportunities. This partnership complements Invion’s existing collaborations in human oncology and infectious diseases, underscoring Photosoft’s versatility as a platform technology.
As the studies progress, the market will be watching closely to see if Photosoft can deliver on its promise in the companion animal space, potentially transforming cancer care for pets and opening a lucrative new revenue stream for Invion.
Bottom Line?
Invion’s partnership with Protect could accelerate Photosoft’s entry into a lucrative pet cancer market, but success hinges on upcoming study results.
Questions in the middle?
- What are the timelines and expected milestones for Protect’s evaluation studies?
- How might a co-development agreement shape Invion’s commercial strategy in veterinary oncology?
- Could Photosoft’s success in pets influence its adoption or development in human cancer therapies?