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Headline : Top Five Cancer Types Dominate New US Cases as Biotech Sector Eyes $314B Market by 2032

Read more from the original article on here at www.prnewswire.com.




Tags : #top #five #cancer #types #dominate #new #us #cases #biotech #sector #eyes #314b #market #2032


No. of Paragraph 27

USA News Group CommentaryIssued on behalf of Oncolytics Biotech Inc.

VANCOUVER, BC, May 3, 2024 /PRNewswire/ -- According to a "highly troubling" new study, the rising number of cancer cases in young people is being attributed to "accelerated aging." Further alarm is being spread by the United Nations, whose health authorities are predicting global cancer cases to rise around 77% by 2050, with richer countries expected to have the greatest absolute increase in cancer, with an additional 4.8 million new cases predicted in 2050. With the global cancer immunotherapy market projected by analysts at Custom Market Insights to reach US$314.4 billion by 2032, growing at a 7.2% CAGR, the biotech sector continues to make significant developments in cancer treatment and diagnostics, with recent updates coming from Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC), Celcuity Inc. (NASDAQ: CELC), Olema Pharmaceuticals, Inc. (NASDAQ: OLMA), Bio-Rad Laboratories, Inc. (NYSE: BIO), and AstraZeneca PLC (NASDAQ: AZN).

Since receiving Fast Track Designation from the FDA in late 2022 for its leading cancer treatment, pelareorep, in the treatment of pancreatic cancer, Oncolytics Biotech Inc. (NASDAQ: ONCY) (TSX: ONC) has maintained strong progress. The company recently announced that it has requested a Type C meeting with the FDA to discuss an upcoming registration-enabling trial of pelareorep for treating HR+/HER2- metastatic breast cancer (mBC) patients.

"A key focus for Oncolytics in 2024 is defining the regulatory path for pelareorep in breast cancer treatment," said Matt Coffey, President and CEO of Oncolytics. "We are optimistic that pelareorep, in combination with paclitaxel, could significantly enhance clinical outcomes for patients with HR+/HER2- metastatic breast cancer. Our position is strengthened by encouraging data from two randomized studies (BRACELET-1 and IND-213) and the AWARE-1 study, paving the way for the next phase of pelareorep's development and registration."

Read more from the original article on here at www.prnewswire.com.


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