October 15, 2020
Voximetry Awarded $1.8 Million Grant from National Cancer Institute to Advance the Development of its Radiopharmaceutical Therapy Dosimetry Software
MADISON, Wis.--Voximetry Inc., an early stage medical software company with unique technology for personalized Radiopharmaceutical Therapy (RPT) planning, has been awarded a substantial grant from the U.S. National Institutes of Health (NIH)’s National Cancer Institute (NCI) to advance development of its proprietary software for RPT dosimetry.
According to Voximetry CEO, Dr. Sue Wallace, “We are grateful to the NCI. This grant will accelerate our work to provide a tool that enables clinicians to personalize care for individual patients and thereby achieve better outcomes, including better quality of life after treatment.”
The field of RPT is expanding rapidly in the U.S. with procedure volumes increasing in multiple specialty areas including Nuclear Medicine, Radiation Oncology and Interventional Radiology departments. A March 2020 review by top experts published in the Lancet indicates the field of RPT will exceed $5B in the next 5 years. In addition to currently approved treatments, at least 100 clinical trials using new RPT agents are currently underway, focused primarily on Prostate, Lymphoma, Thyroid, Liver, and Neuroendocrine tumors.
“Our TORCH software will provide the information needed to help physicians prescribe the right number of therapy cycles and the right therapy dose per cycle,” said Dr. Joe Grudzinski, Chief Innovation Officer at Voximetry. “After treatment, our users will know how much therapeutic dose was delivered to the targeted disease sites, as well as to healthy tissue and critical organs. Torch information can help doctors prescribe just enough dose to treat the disease and still protect important organs like the kidneys, lungs, or salivary glands.”
The $1.8 Million Phase II Small Business Innovation Research (SBIR) grant from the NCI will fund commercial development of Voximetry’s Torch software and demonstration of safety and efficacy.
As part of this grant, University of WI collaborators will use Voximetry’s software for retrospective assessment of RPT treatments.
About Voximetry: Based in Madison, Wisconsin, Voximetry is a is an early stage healthcare technology company specializing in commercialization of complex algorithms on high speed Graphic Processing Units (GPUs). Currently focused on radiation transport science and voxel-level dosimetry, Voximetry is pioneering patient-specific treatment planning in advanced stage cancer patients. Voximetry leverages intellectual property developed at the University of Wisconsin - Madison, which has a rich history of fostering successful biotechnology companies.
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