Proactive Investor: Oncology outlook: ASX small caps driving innovation in cancer treatment
The global oncology drug market, valued at USD 231.56 billion in 2024, is expected to grow to USD 532.91 billion by 2031, driven by demand for targeted therapies, biomarker-based treatments, and immunotherapies.
Several ASX-listed companies are contributing to this innovation:
Arovella Therapeutics Ltd: Developing its invariant Natural Killer T (iNKT) cell therapy platform to treat blood cancers and solid tumours. Lead product ALA-101 uses CAR19-iNKT cells to target the CD19 antigen. The company recently raised $20 million to fund a phase 1 trial for CD19-positive blood cancers.