Oncology Pharma, Inc. is pleased to announce that it has extended a world-wide Licensing Agreement with NanoSmart Pharmaceuticals, Inc. for use in the growing Veterinary Oncology market.
Nanosmart possesses proprietary technology and intellectual property rights for the development of liposomal and/or emulsion-based drug formulations that incorporate anti-nuclear antibodies (ANA).
The global veterinary oncology market size was estimated at USD 199.9 million in 2019 and is anticipated to witness a Compound Annual Growth Rate (CAGR) of 10.7% over the next decade. A major driver of the market growth is the increasing prevalence of cancer in the pet population paired with the rising adoption of veterinary cancer therapy. Additionally, developed economies are spending more on animal healthcare due to pet owners’ rising willingness to spend on pet healthcare and government initiatives for veterinary cancer treatment.
ANA may be utilized as a targeting agent in pharmaceutical compounds to deliver active pharmaceutical ingredients to tumour sites, potentially resulting in safer and more effective cancer therapies. ANA-conjugated formulations like those licensed from NanoSmart present an opportunity to deliver better healthcare options for a growing and receptive market.
Oncology Pharma is currently engaging in research and development of therapeutics for oncology and prides itself for having a world-class Advisory Board that keeps the Company in the forefront of developing technologies in cancer research, biotechnology, and healthcare.