MedTrace Pharma

MedTrace Pharma seeks to bring 15 O-water production inside hospitals with its P3 automated point-of-care chemistry system. [Image courtesy of  MedTrace Pharma]MedTrace Pharma announced today that it has raised €18.2 million (roughly $19 million) to fund the completion of its Phase 3 trial of its tech to make PET with oxygen-15 labeled water widely available.

15 O-water has a reputation as a gold-standard radioactive tracer for PET imaging, but supply chain problems around the substance have hindered adoption. Hørsholm, Denmark–based MedTrace, which opened a U.S. headquarters in downtown Minneapolis last year, seeks to solve the problem by moving 15 O-water production inside hospitals with an automated point-of-care chemistry system. A Phase 3 clinical trial of the system kicked off last year. 

The investments surpassed MedTrace Pharma’s goal of raising €15 million — an achievement in a challenging fundraising environment that shows investors are confident i…

MedTrace Pharma has secured a U.S. patent for a software algorithm that will play an important role in its efforts to make PET with oxygen-15 labeled water widely available in clinical settings.

15 O-water has a reputation as a gold-standard radioactive tracer for PET imaging, but supply chain problems around the substance have hindered adoption. Hørsholm, Denmark–based MedTrace, which opened a U.S. headquarters in downtown Minneapolis last year, seeks to solve the problem by moving 15 O-water production inside hospitals with an automated point-of-care chemistry system. A Phase 3 clinical trial of the system is presently underway. 

The new patent covers the algorithm that is the foundation of aQuant, the company’s software currently under development. It protects MedTrace’s unique way of modeling the human heart via PET flow signals.

Rune Wiik Kristensen — co-founder, COO and U.S. VP at MedTrace — described the patent as an important milestone.

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MedTrace Pharma seeks to bring 15 O-water production inside hospitals with its P3 automated point-of-care chemistry system. [Image courtesy of  MedTrace Pharma]MedTrace Pharma announced the first person scanned in its Rapid-Water-Flow Phase 3 clinical trial, further testing its tech to bring 15 O-water to imaging.

The first subject scan took place at Aarhus University Hospital in Denmark, using 15 O-water produced, dosed and injected through MedTrace’s P3 automated delivery system. The clinical trial aims to evaluate the use of 15 O-water in PET scans to diagnose coronary artery disease. The trial kickoff, announced on May 20, comes about two months after MedTrace received FDA approval of the company’s Investigational New Drug (IND) application and the approval to commence the trial.

Denmark–based MedTrace is holding a grand opening in August for new U.S. offices in the IDS Center in downtown Minneapolis.

Read the full story on our sister site Medical…