Regulatory press release

SpectraCure has been awarded an additional EU grant for industrialisation of the company's treatment system Q-PRO®

SpectraCure has been awarded an additional EU grant of 125,000 euros for the ongoing industrialisation project regarding the company's system Q-PRO® for treatment of prostate cancer using interstitial photodynamic therapy (PDT). The funding is awarded as part of MedPhab, a so-called "pilot production line" financed by grant from the EU's Horizon 2020 program.

SpectraCure has been awarded an additional EU grant of 125,000 euros for the ongoing industrialisation projects in collaboration with Philips Innovation Services in the Netherlands and CSEM SA in Switzerland. The grant has been awarded with the aim of demonstrating that SpectraCure´s manufacturing concept works, with assured quality, in a simulated production line.

In June 2022, SpectraCure received an initial grant of 125,000 euros aimed to shorten the manufacturing time of the treatment system for industrial production. In May of this year, SpectraCure announced that the sub-project was completed with good results and that a concept had been developed that has more than halved manufacturing time and reduced component costs.

The budget for this part of the project amounts to approximately 175,000 euros, of which 125,000 euros are funded through EU grants. The project is planned to continue until the first quarter of 2024.

"In the continued collaboration with Philips Innovation Services and CSEM SA, we are taking further important steps towards industrial production of our treatment system Q-PRO® while maintaining fast assembly and reduced costs from the first part of the project. As the project is necessary for future launch, it is very positive that we receive additional EU grants to cover large parts of the budgeted costs", says Johannes Swartling, CTO, SpectraCure.

SpectraCure is developing a treatment system for the elimination of internal solid cancer tumors. We are initially focusing on recurrent prostate cancer, with the hope of being able to treat other cancers such as primary prostate cancer, breast cancer, pancreatic cancer, and head and neck cancer in the future. The approach is based on a proprietary and patented treatment system, Q-PRO®, consisting of a hardware device, a laser unit, which performs PDT treatment and treats the prostate itself, combined with a software device, the patented IDOSE® dose planning platform. The method allows the laser light dose to be controlled so that the tumour is exposed to an optimal dose to achieve sufficient treatment effect. The treatment system has the potential to make interstitial PDT treatment accurate, precise, safe for every patient. The goal is that in addition to being tumor free, the patient will be able to maintain their quality of life, with limited side effects. We are conducting clinical trials as an important part of the continued development of the company's treatment system.

The company is listed in the Premier segment of the Nasdaq First North Growth Market with G&W Fondkommission as Certified Adviser, and trades under the short name SPEC.