RenovoRx announced today that it plans to increase the production of its RenovoCath catheter-based delivery system.
The Los Altos, California-based company cited increased demand for the delivery of diagnostic and/or therapeutic agents. It signed a new project work order with its principal manufacturing partner, Medical Murray, providing for an expanded relationship. The company looks to explore more commercial opportunities beyond its ongoing clinical programs.
RenovoRx plans to create performance incentives for Medical Murray buy issuing a warrant to purchase up to 709,500 shares of its common stock. The warrant vests over time and only if Medical Murray achieves certain manufacturing milestones.
In parallel, the company plans to continue its commitment toward the ongoing pivotal Phase III TIGer-PaC clinical trial. The study evaluates the company’s trans-arterial micro-perfusion (TAMP) therapy platform in treating advanced pancreatic cancer. It utilizes a drug-device combination product candidate (intra-arterial infusion of chemotherapy, gemcitabine HCl) to target tumors.
“We announced in our most recent SEC quarterly report that we are actively exploring commercial opportunities to meet what we see as growing demand for our proprietary RenovoCath technology,” Shaun Bagai, CEO of RenovoRx, said. “Beyond [pancreatic cancer], we believe there are many clinical applications for RenovoCath to improve targeted delivery of diagnostic and therapeutic agents. Securing the manufacturing capacity for this strategy with our partner Medical Murray is a great first step. We are also in active discussions with many interested customers to purchase supplies of RenovoCath as well as potential distribution partners.
Bagai hopes to see revenue generation in 2025. In preparation for its commercialization efforts, the company promoted Robert Strasser to VP of R&D and operations.
