Toronto, Ontario--(Newsfile Corp. - August 17, 2022) - Telo Genomics Corp. (TSXV: TELO) (OTCQB: TDSGF) (the "Company" or "TELO") announces the completion of the laboratory processing and analysis of patient samples related to its multiple myeloma drug resistance clinical study. The patient samples were provided by the Mayo Clinic as part of an ongoing collaboration to evaluate the Company's prognostic technology for multiple myeloma ("MM"). TELO's study results have now been submitted back to the Mayo Clinic for review and analysis. This is the second study being carried out in collaboration with the Mayo Clinic to evaluate the Company's prognostic technology to address multiple unmet clinical needs across the spectrum of MM.
TELO's ongoing collaboration with the Mayo Clinic includes clinical studies in the development of prognostic tools to address two specific unmet clinical needs in the management of MM including: 1) assess the risk of precursor smouldering myeloma (SMM) patients who may benefit from either immediate intervention for high-risk SMM or active continual monitoring for stable SMM; and 2) identify MM patients who will develop resistance to first-line treatment within two years, and may benefit from an alternative treatment regimen. In July 2022, TELO announced the completion of processing the patient samples related to its lead product for SMM patients. The Company announces herein the completion of processing the samples for the second clinical study for MM patients who will develop resistance to first-line treatment.
MM is a challenging and potentially deadly blood cancer that affects plasma cells, a type of blood cell that helps to fight infection. It is the second most common blood cancer with 35,000 new cases every year in the US, with approximately 180,000 patients receiving treatment at any given time. MM treatment usually includes various combinations of drugs, each having different mechanisms of action at a cost of up to US $150,000 per year per patient for the standard of care. However, most patients will develop resistance to treatment and relapse within a median of 2 years. Identifying these patients who will develop drug resistance, relapse early and would benefit from altering their treatment, remains an unmet need in the management of MM.
Once relapsed, MM patients are commonly transitioned to a different treatment regimen, where they will continue to benefit from active monitoring to identify the risk of further relapses. The identification of patients at high-risk of relapse presents the opportunity for closer patient monitoring and consequently, dynamic real-time tailoring of treatment, likely leading to improved survival, longer-remission in patient outcomes, and potentially decreased requirement of more costly interventions like the newly approved CAR-T cell treatment that exceeds $400,000 per treatment.
In the US, the incidence rate and number of patients currently receiving treatment provides an estimated addressable market of over 500,000 tests per year for ongoing patient monitoring at 3 month intervals.
"We are very pleased to announce the completion of processing the drug resistance patient cohort in record time, as we await the completion of the statistical analysis of the SMM cohort," said Sherif Louis, TELO's CEO. "The completion of processing of these two successive cohorts of MM patient samples highlights TELO's team's increased efficiency and readiness to scale up to commercial laboratory productivity and bringing the TeloView technology to the market."
Telo Genomics Corp. is a biotech company pioneering the most comprehensive telomere platform in the industry with powerful applications and prognostic solutions. These include liquid biopsies and related technologies in oncology and neurological diseases. Liquid biopsy is a rapidly growing field of significant interest to the medical community for being less invasive and more easily replicated than traditional diagnostic approaches. By combining our team's considerable expertise in quantitative analysis of 3D telomeres with molecular biology and artificial intelligence to recognize disease associated genetic instability, TELO is developing simple and accurate products that improve day-to-day care for patients by serving the needs of pathologists, clinicians, academic researchers and drug developers. The benefits of our proprietary technology have been substantiated in 160+ peer reviewed publications and in 30+ clinical studies involving more than 3,000 patients with multiple cancers and Alzheimer's disease. Our lead application, TELO-MM is being developed to provide important, actionable information to medical professionals in the treatment of multiple myeloma, a deadly form of blood cancer. For more information please visit www.telodx.com.
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Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "intends", "will", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements regarding the clinical efficacy of products, commercial viability of products, use of proceeds, and the ability of the TeloView® platform to deliver personalized medicine resulting in better treatments and outcomes are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward- looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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