FluoGuide develops surgical solutions that are expected to reduce suffering for the patient and increase the likelihood of cure as well as reducing costs for the health care system.

Selected as best IPO in 2019

FluoGuide won the 2019 share price development award in the micro-cap category and also received the honorary quality award (Affärsvärlden’s IPO Guide).

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What is the difference between the technology of FluoGuide and Curasight?

Prof. Andreas Kjær is heading a research group with 40+ people working with imaging and diagnostics within cancer. Over the years, he has produced a substantial amount of scientific results (>500 research articles) and innovations (16 patents). Curasight was created many years ago in 2013, and long before FluoGuide. Curasight develops PET tracers and with these PET tracers, Curasight has conducted clinical trials including scans of more than 400 patients and through that we gained an in-depth understanding of uPAR expression in several human cancer patient populations.  FluoGuide was created based on this knowledge combined with the evolving field of image-guided surgery.

Whereas Curasight develops PET tracer-based diagnostics of different human cancers and therapy based on radiation, FluoGuide develops fluorescent image-guidance of surgery.

A PET tracer (link) emit a low dose radiation that is detected by an external PET scanner.  PET tracers cannot be used to guide surgery in real-time (radioactive and low resolution). A fluorophore targeted product emits light that is detected by eyes or cameras. Fluorophore targeted products cannot be used as whole body diagnostics (only visible 1-3 cm into the tissue). Accordingly, there is no overlap of the fields of the two technologies or products the two companies are based on.

Treatment of cancer in general and glioblastoma in particular, are treated with combination therapy, i.e. combination of surgery, radiation therapy and chemotherapy. Accordingly, the technologies of FluoGuide and Curasight are expected to work in synergy.

How to trade FluoGuide shares in Danske Bank?

FluoGuide share can be found using the ISIN codes (Share: DK0061123312; TO1: DK0061138773).

How does the light and FG001 work technically?

FG001 contains a molecule with fluorescent properties (a fluorophore). Fluorophores absorb light of a specific wavelength and re-emit light of a longer wavelength. Typically, a laser will create the light and a camera will detect the re-emitted light. Lasers and camera are built into microscope, robotic surgery equipment and endoscopes, and available today at the surgery rooms with the specifications needed for FG001.

What is the expected sales price to hospitals for FG001?

The price of FG001 will depend on the clinical benefit it provides to patients, hospitals and society, and the extent to which we manage to demonstrate this. Thus, the results of the clinical phase I/II trial for FG001 in patients with glioblastoma undergoing surgery will give the first indication of the magnitude of benefit FG001 provides to these patients.

Does the FDA have clear guidelines or endpoints regarding the FG001?

Yes. FG001 is a medical product (drug) per definition and there are clear guidelines for medical products. Interactions with the regulatory agencies, such as FDA and EMA, are nevertheless important during the development. This shall secure that the specific issues related to FG001 and guiding of cancer surgery are discussed with the regulatory agencies during the development of FG001. The overall aim is to secure that new important products are brought to patients safely and quickly.

What is a good way of measuring the surgical success of the FG001?

Post-surgery pathohistological examination is the golden standard and is a good measure for the surgical success. The pathologist investigates if the margins of the removed tissue contain cancer (termed ‘positive margins’) or the margins are clear of cancer (‘negative margins’). A surgical success is removal of all local cancer plus minimally normal tissue with a cancer free (‘negative’) margin. For glioblastoma specifically is post-surgery MRI the golden standard.

When to start the clinical trial for FG001?

We will announce updates through press releases when we can give more precise predictions. Until then, we want to refer to page six in our latest quarterly report (Q2), which contains a description of the design of the clinical trial and key events. The Q2-report is available here.

When to start phase I for FG002?

We anticipate developing 2-3 uPAR target products to guide surgery to fully explore its potential. Every time we initiate development of a new product, we have to invest to secure adequate manufacturing followed by a full toxicological testing program before human trials. The decision regarding the number of products to develop has to be balanced against the additional value it provides to patients and shareholders. We are generating data for an informed decision in mid 2021.

Move to another exchange?

Spotlight Stock Market is a marketplace for growth companies and typically companies move to different stock exchanges following sustained growth. We are however pleased to have our shares traded on Spotlight Stock Market and have no current plans to change stock exchange.

Will FluoGuide require more capital to become cash flow positive?

As previously communicated in our IPO prospectus, the costs to bring FG001 to market will require more capital than we currently have in our possession. Our vision is to create a company that fully utilizes the potential of uPAR target guided oncological surgery to the benefit of patients. Possible financing options include: Commercial partnerships, grants or issuing shares. We will always evaluate how we can create long term value to our shareholders and help cancer patients in the best possible way. So far, we have managed to create ample value to shareholders while perusing our vision of maximizing outcome in oncology surgery.

Lock up for larger shareholders

In relation to the directed share issue that was conducted in February 2020, Life Science IVS (owned by Board Member and CSO Andreas Kjaer) and Wexotec ApS (owned by CEO Morten Albrechtsen) prolonged their lock-up of 100% of their shares until 31 December 2020. Both Andreas Kjaer and Morten Albrechtsen have great expectations of the company and see their engagement as long term.