BRIDGEWATER, NJ / ACCESSWIRE / April 12, 2023 / A surge in oncology drug development, coupled with increased patient access and early diagnosis, has resulted in a massive increase in global spending on cancer treatments. Due to this, the global oncology market has been growing at an unprecedented pace over the past few years.
According to a report published by Precedence Research, the global oncology market was valued at $286.04 billion in 2021 and is expected to reach over $581.25 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 8.2% from 2022 to 2030.
One company that is capitalizing on this growth opportunity and making an impact in this field is Hillstream Biopharma Inc. (NASDAQ:HILS). The biotechnology company is developing novel therapeutic candidates targeting ferroptosis, an emerging anti-cancer mechanism resulting in iron-mediated cell death for drug-resistant and devastating cancers.
Hillstream is at the forefront of developing cutting-edge oncology medicines. Their most advanced candidate HSB-1216, an iron-mediated cell death (IMCD) modulator, is a next-generation cancer immunotherapy designed to fight solid tumors.
HSB-1216's key feature is its use of Hillstream's proprietary tumor-targeting platform, Quatramer, designed to enhance the uptake of HSB-1216 in the tumor microenvironment while minimizing off-target toxicity. This targeted approach is important as it allows for more effective cancer treatment while minimizing damage to healthy cells.
Standing Out From Cancer Treatments On The Market
The drug stands out from other cancer treatments on the market from players like Beigene Ltd., Sanofi SA , Illumina Inc., Johnson & Johnson and others in several ways.
Firstly, it targets solid tumors, which are among the most difficult cancers to treat. Secondly, using Quatramer helps minimize off-target toxicity, reducing the risk of side effects commonly associated with chemotherapy and other cancer treatments. Furthermore, Hillstream's use of IMCD modulation as a mechanism of action for HSB-1216 is relatively unique in the market, with promising results in early clinical trials.
The importance of HSB-1216 cannot be understated. Solid tumors account for approximately 90% of all cancer cases and are notoriously difficult to treat. The current standard of care for solid tumors can be painful, invasive, and have numerous side effects. HSB-1216 offers a more targeted and manageable approach to treating solid tumors, saving patients from unnecessary toxicity and discomfort.
The drug has already shown promising results in preclinical trials. Hillstream notes that early compassionate use study showed that the active drug in HSB-1216 is effective in treating several types of devastating cancers, including triple-negative breast cancer and epithelial carcinomas.
Experienced Management Driving Growth And Innovation
Leading the team developing this innovative cancer drug is Randy Milby, CEO of Hillstream Biopharma, who has over 30 years of experience in the biopharmaceutical industry and has held leadership positions in several successful companies.
Milby, a pharmacist by training, began his career in the military. He joined Bristol-Myers Squibb after completing his MBA at Washington University in St. Louis, and later held positions at several other companies, including DuPont-Merck Pharmaceuticals, Goldman Sachs Group, DuPont de Nemours. Prior to Hillstream, he was the CEO and board member at CorMedix. In 2017, he founded Hillstream Biopharma as the CEO, bringing extensive experience in research, business development, commercialization, and strategic planning. Under his leadership, Hillstream has made significant progress in developing its lead product candidate, HSB-1216, and has completed an IPO to raise additional funds for its research and development efforts. In addition, Hillstream is now advancing Quatrabodies, attaching antibodies on the exterior of the Quatramer.
He has ensured that Hillstream's innovative use of Quatramer and IMCD modulation in developing HSB-1216 sets it apart from other cancer treatments on the market, making it an attractive candidate for further study and potential investment opportunities in the biotech industry.
The growth of the global oncology market and the emergence of groundbreaking drugs like HSB-1216 signify a brighter future for cancer patients worldwide. As the demand for effective cancer treatments continues to rise, the need for innovative solutions like HSB-1216 will become increasingly apparent. It could save countless lives and revolutionize how the world approaches cancer treatment.
SOURCE: Hillstream BioPharma
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