Since the clinical application of MRI for cancer imaging, there has been a continuous effort in developing tumor-specific contrast agents for accurate cancer detection. To date, there is no targeted contrast agent available for clinical use. The MT218 contrast agent is a disruptive product that fills a market niche and addresses the clinical need of a tumor-specific cancer using MRI imaging. It is a universal targeted MRI contrast agent that can be used in the diagnosis and treatment of many types of human cancers.
Since the first gadolinium-based contrast agent (GBCA) was approved by the FDA in 1988, the market for MRI contrast agents has been expanding. The advantages of MRI over other medical imaging modalities (e.g., X-ray, CT, PET) as well as the availability and ease of use of its contrast agents have contributed to global market growth. In the United States, the total GBCA sales from manufacturers to hospitals and clinics was 8.8 million vials and syringes in 2016. Revenue from three macrocyclic agents (ProHance, Doteram and Gadavist) increased from 6% to 51% in 5 years after 2 FDA approvals in 2011 and 2013, respectively. This shows the trend that macrocyclic GBCA are gradually taking over the market, which has been recognized by the FDA and the public to be more stable with fewer side effects. MT218 is a macrocyclic agent. More importantly, MT218 generates robust contrast-enhanced images of aggressive tumors using a mere 40% of dosage of the approved GBCAs. MT218 has a strong competitive edge over the existing contrast agents in the market due to its tumor specificity, high relaxivity, low minimal effective dose, and better safety profile.
The global contrast media market size is estimated to reach USD 6.93 billion by 2027 and is expected to witness a CAGR of 3.5%, according to a new report by Grand View Research, Inc. For prostate cancer diagnostic and screening alone, the global market is estimated to be $15 billion with an average of 1.1 million worldwide prostate cancer cases per year. Therefore, MT218 is at the intersection of multibillion-dollar opportunities.
In 2015 alone, the PET probe global market was $400 million for pancreatic cancer diagnosis and is expected to reach a value of $510 million by 2020. In 2015 the US conducted approximately sixty thousand PET/CT scans for the diagnosis of pancreatic cancer. The US PET probe market in 2015 was estimated by the Frost & Sullivan market research firm to be $120M. The market is increasing annually and is propelled by the increasing demand for diagnostic imaging, image-guided intervention, non-invasive assessment of therapeutic outcomes, and monitoring disease progression. Based on the cancer biology of MT’s PET probe, MTP219 can also be used for the diagnosis of many types of aggressive cancers. When combined with the global PET probe market, MT’s PET probe is also at the intersection of multibillion-dollar opportunities.