EuroGen Partners With Israeli Intragel to Expand Cancer Drug Delivery Technologies
Israeli-American pharmaceutical company EuroGen, valued at approximately $2.5 billion on Nasdaq, announced a collaboration with Israeli firm Intragel, which developed a biodegradable gel for sustained drug release. EuroGen will invest $7 million in Intragel, with $4 million paid immediately and $3 million contingent on upcoming milestones, as part of Intragel's current fundraising round. If Intragel's product successfully passes a Phase II clinical trial starting soon, EuroGen may exercise an option to continue development and commercialization, with additional milestone payments and royalties.
EuroGen's existing products use a gel for delayed drug release in the urinary tract, but Intragel's injectable and biodegradable gel remains inside the body, enabling treatment of various solid tumors beyond EuroGen's current focus on open areas like the urinary and digestive tracts. This technology could allow EuroGen to broaden its market. EuroGen currently generates about $100 million annually from its first product, Jelmyto, and recently earned $50 million in one quarter from its newly launched Zusduri. The company employs around 250-300 people, including 45 in Israel.
EuroGen CEO Liz Barrett emphasized the search for a biodegradable gel to complement their products and extend similar treatments to other cancer types. Intragel's lead indication is head and neck cancer, where the gel containing chemotherapy drug cisplatin is injected directly into tumors to maximize efficacy while minimizing systemic side effects. EuroGen's business development VP Tim Simon noted that direct tumor injections have long been an unfulfilled promise in cancer therapy.
Intragel Therapeutics was founded by CEO and polymer expert Dr. Peter Simean, motivated by his mother's lung cancer. Established in 2021, the company has raised about $5 million from NGT group funds and private investors, with initial innovation support from Israel Innovation Authority and NGT incubator. The gel technology, developed by Dr. Avi Domb and co-founder Avner Geva, has already demonstrated preclinical proof and entered human trials within two years.
Beyond cancer, Intragel aims to enable sustained release of complex drugs like peptides (e.g., GLP-1 therapies) and biologics via subcutaneous injections, potentially replacing frequent and painful dosing regimens. The company has completed proof-of-concept trials with a major pharmaceutical partner for subcutaneous biologic delivery. This collaboration marks a significant step in advancing injectable, sustained-release cancer treatments and expanding EuroGen's therapeutic reach.
