March 17th. 2022
In the summer of 2020, XSUNX converted its management team and business plan from a solar energy company of 20 years to a biopharmaceutical cancer therapeutic company. XSUNX changed its management team to include its new CEO, Dr. Dwain Irvin, a cancer stem cell biologist of 20 years, and new CFO, Mike Yukich, who served as CFO for over 20 years for a multi-billion-dollar company. XSUNX has also changed its name to NovAccess Global Inc. NovAccess Global has now embarked upon a very focused and accelerated mission to bring novel therapeutics and diagnostics to better serve cancer patients moving forward.
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As part of NovAccess Global’s business plan, it acquired StemVax Therapeutics Inc. in the fall of 2020, which holds patent protected, third-generation platform immunotherapy technology to treat the most common adult brain tumor, glioblastoma multiforme (GBM), with no cure and a 15-month median survival after diagnosis. There has been no change in survival for over 50 years, despite advances in chemotherapy and radiation therapy. This platform-based technology is a continuation of earlier generation immunotherapy which has shown improvement in overall and progression-free survival in previous GBM human clinical trials. The technology is currently at the pre-IND stage, and the company is aggressively working with the FDA to obtain approval for orphan drug status and approval to begin Human clinical trials in the near future. We have our first pre-IND meeting with the FDA June 16th, 2021. NovAccess Global has also contracted Dr Christopher Wheeler to lead these investigations as President of StemVax Therapeutics Inc. Dr. Wheeler has over 25 years of experience in leading human clinical trials and interacting with the FDA to move human clinical trials forward with the earlier versions of this technology.
As part of NovAccess Global’s accelerated growth strategy, we are developing a pipeline of cancer related platform-based therapeutics and diagnostic assets at the human clinical trial phase, some of which will be obtain through future acquisitions and/or licenses, including products in-market or near market entry. We are focused on expanding our pipeline to include advanced cancer diagnostics and cutting-edge medical devices to improve the quality of health for cancer patients. In the near future, we will continue to build our management team, advisory board and executive board with experts that will help accelerated bringing our assets to market, including experts in commercializing biopharmaceuticals and subsequent market growth.
This has been a very exciting first two quarters for the company, as we have acquired fantastic assets and managers to execute our business plan. We look forward to completing the fiscal year with some direction from the FDA as part of our IND process, up-listing in the OTC markets and collaborating with other experts to bring novel assets in cancer therapeutics and diagnostics to market. GBM therapeutics and immunotherapy has a current United States market size of roughly $700MM and is expected to grow to over $2BN over the next five years. Our core values are focused on accountability, integrity, excellence and teamwork. These core values combined with cutting-edge assets and top-performing management teams will be the formula for our continued success moving forward.
Revolutionary advances in the understanding of how our bodies can fight cancer, and how to put that information to use in treating existing tumors. NovAccess Global’s team of experts is working to strengthen the capability of the human body’s defense against cancer.
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