Spago Nanomedical AB is a Swedish company performing research and development within nanomedicine. The focus is the development of nanomaterials for tumour diagnostics and treatment of cancer. The main development projects SpagoPix and Tumorad are both built on proprietary nanomaterials.
How many staff do you have currently on the team and do you find it difficult to find quality local and international staff?
We currently have 15-16 staff members with a mixed background in science, including chemists, biologists, physicists, and engineers. I’m saying 15-16 since we’re just about to hire a new staff member, a senior scientist within chemistry who is very qualified. We have been reasonably successful in recruiting staff so far and maintain a high level of competence internally.
Do any of the staff and or management team hold shares within the company?
Yes, I hold shares myself. Our CSO who has been with the company from the very beginning has a significant holding also. The staff also hold some shares, and there are some who hold options also. There is quite a strong ownership within the company.
During your time at the company, what has been your greatest achievement thus far?
Well, being able to actually set a specification of a nanomedical product candidate, and taking that product candidate through quite a laboursome production campaign internally. And using that material for preclinical studies in a regulated setting, which turned out well. It was actually a major achievement for the company, and I was very happy when we managed to do that. That has paved the way for the clinical trials that we are planning now.
What is your medium to long-term goal & has it been consistent for some time?
The overall goal for the company has always been to develop projects that are unique and that have a meaning in the sense that they target a patient population that is big enough to make a real difference and have the prospect to generate major revenues. High-quality projects that fill medical needs that lends themselves to out-licensing to international players. So we are targeting international companies with established sales forces and established clinical development departments that can take our projects from early clinic to market-authorisation and finally to sales. So that’s the out-licensing that is the ultimate goal.
In the midterm yes, obviously completing the first clinical trial with SpagoPix. According to our minds, successful data from that trial will form the basis for out-licensing of that project. We are targeting the available players already, and pursuing that.
In the long term, I think that Spago Nanomedical is going to be more of a therapeutics company than diagnostics, which is really what we are right now. So our second project Tumorad holds promise as a new radionuclide therapy in several different cancer-forms actually, and in the long run that’s our main assets.
What sets your company apart from those within your industry? What is your X-factor per say?
I think we are always trying to make things as easy as possible when it comes to the mechanism of the products that we are developing. Although the material itself is quite complicated from a chemical point of view, the mechanism of action in the human body is quite simple to understand. And we are trying to build on that, and not trying to complicate our compounds too much. Trying and to find the easy ways to make them work in the human body. So I think that’s really one of our guiding stars here when we are planning new projects and going forward.
Could you please share with us your favourite memory and or event since you joined the company?
I would say that my favourite memory would be when we finally established the specification for our product candidates, SpagoPix, because that was really a major milestone for the company. That was the first time that we really had something, a compound that could eventually become a product.