TriSalus Goes SPAC Way To Fund Pressure-Enabled Drug Delivery Tech Based Cancer Trials

TriSalus Life Sciences has identified a special purpose acquisition company (SPAC) path for its NASDAQ debut, with a deal to merge with MedTech Acquisition Corporation MTAC
The company's business is built on TriNav, an infusion system that enables the modulation of pressure and flow to overcome tumoral pressure and thereby improve the delivery of anti-cancer drugs.
The pressure-enabled drug delivery (PEDD) technology was launched in 2020.
In 2021, TriNav achieved $8.4 million in net sales and is on track to achieve $12.6 million in 2022.
TriSalus also uses the technology in its internal drug development pipeline, led by SD-101, a toll-like receptor 9 agonist delivered by PEDD to enable deeper and more durable responses to other immunotherapeutics in various liver and pancreatic cancers.
Across two clinical trials, over 100 infusions of SD-101 have been delivered at several dose levels as monotherapy and in combination with checkpoint inhibitors in more than 20 patients, with safety data indicating treatments were well-tolerated.
TriSalus is "assuming significant redemptions," leading it to predict it will exit the merger with $60 million. One investor is providing $50 million from a convertible note.
TriSalus expects the money to fund it into late 2024, taking it past key data readouts on its device and immunotherapy platform.