Cyclopharm Limited (ASX: CYC) has announced a new clinical research collaboration with Macquarie University that could significantly expand its Technegas technology into the chronic obstructive pulmonary disease (COPD) market. The initiative marks a strategic milestone in the company’s “Beyond PE” strategy, targeting a disease burden that causes 3 to 4 million deaths annually and affects hundreds of millions of people worldwide. The study will enrol 34 patients with severe COPD, with first treatments commencing in the coming weeks.
The collaboration addresses a substantial unmet medical need: approximately 70% of severe COPD patients currently have no effective interventional treatment options due to anatomical constraints that exclude them from existing valve-based therapies. By integrating Technegas functional lung imaging with artificial intelligence analytics from global imaging leader Thirona, the study aims to enable personalised treatment for this previously underserved patient population.
What is the ESSA Study and Why Does it Matter?
The Endoscopic Segmental Sealant Ablation (ESSA) Study will evaluate a novel minimally invasive bronchoscopic treatment for patients with severe chronic obstructive pulmonary disease. Led by Professor Alvin Ing, Professor of Respiratory Medicine at Macquarie University and an internationally recognised leader in advanced lung disease and interventional respiratory therapies, the study targets the majority of severe COPD patients who cannot benefit from current treatments.
The Treatment Gap in Severe COPD
COPD represents one of the top five leading causes of death globally, affecting hundreds of millions worldwide. Existing minimally invasive lung volume reduction procedures using endoscopic valves have demonstrated strong clinical outcomes, but only approximately 30% of patients with severe COPD are eligible due to anatomical constraints. The remaining 70% currently have no effective interventional treatment options available, representing a substantial underserved market opportunity.
The ESSA procedure is a minimally invasive bronchoscopic treatment that targets damaged parts of the lung at a segment-by-segment level, rather than treating an entire lung lobe. The aim is to induce segmental lung volume reduction with the instillation of polymer foam. By selectively treating the most diseased lung segments, the procedure aims to:
- Improve breathing efficiency
- Reduce lung over-inflation
- Improve exercise tolerance and quality of life
This approach has the potential to treat patients who are not suitable for existing valve-based therapies, materially increasing the addressable market for interventional COPD care.
Technegas at the Centre of Next-Generation COPD Care
A key feature of the ESSA Study protocol is the use of Technegas functional lung imaging combined with advanced artificial intelligence analysis. Technegas’s unique gas-like properties enable it to show how air moves through different parts of the lung, providing true functional information rather than purely anatomical images that traditional scans produce.
How Technegas Guides Treatment
Technegas technology creates a structured ultra-fine dispersion of radioactive labelled carbon, produced by using dried Technetium-99m in a carbon crucible heated to approximately 2,700°C for a few seconds. The resultant gas-like substance is inhaled by the patient via a breathing apparatus, allowing detailed imaging under a gamma or SPECT camera. This functional data will be critical in three key areas:
- Identifying which lung segments are contributing least to breathing
- Guiding where treatment should be applied
- Measuring functional improvement following the procedure
“The information gained from the true functional imaging that Technegas will provide will be instrumental in establishing a new procedure to meet a significant unmet demand,” said Professor Alvin Ing, Professor of Respiratory Medicine at Macquarie University.
The functional imaging capabilities of Technegas distinguish it from anatomical imaging methods, enabling clinicians to assess not just lung structure but actual airflow and ventilation patterns at a segmental level.
AI Partnership Adds Precision Medicine Capability
To enhance the functional imaging analysis, the study will integrate AI-based lung imaging technology from Thirona, a global leader in advanced lung imaging analytics. Thirona’s technology will be applied to nuclear medicine ventilation-perfusion (V/Q) SPECT-CT scans generated using Technegas, enabling detailed, segment-level assessment of lung function and treatment response.
This combination of nuclear medicine hybrid imaging, Technegas functional data, and AI-driven analytics represents a next-generation approach to personalised respiratory care. The integration positions Technegas as a platform technology compatible with emerging precision medicine trends, potentially increasing its long-term value proposition as healthcare increasingly shifts toward data-driven, personalised treatment protocols.
Study Design and Timeline
The ESSA Study has received ethics approval and is structured as a parallel group-controlled study at Macquarie University Hospital in Sydney. The study will evaluate 34 patients with severe or very severe COPD, with recruitment expected to occur over approximately 12 months. First patients are expected to commence treatment in the coming weeks, providing a near-term catalyst for progress updates.
| Parameter | Detail |
|---|---|
| Location | Macquarie University Hospital, Sydney |
| Study Design | Parallel group-controlled |
| Patient Cohort | 34 patients with severe or very severe COPD |
| Recruitment Period | Approximately 12 months |
| Status | Ethics approved; first patients commencing in coming weeks |
Strategic Significance for Investors
The initiative represents tangible progress on Cyclopharm’s stated growth strategy to expand Technegas applications beyond pulmonary embolism diagnosis. The study supports four strategic pillars that could materially expand the company’s total addressable market:
- Enable new clinical applications
- Support emerging interventional lung procedures
- Integrate with AI-driven analytics and precision medicine
- Expand long-term market opportunity in major respiratory diseases
“COPD represents one of the largest unmet needs in global respiratory medicine, and the majority of patients with advanced disease currently have no interventional treatment options available. Together, these capabilities have the potential to unlock new clinical pathways and materially expand the long-term value of Technegas beyond pulmonary embolism,” said James McBrayer, Managing Director & CEO of Cyclopharm.
The study demonstrates concrete execution of the “Beyond PE” strategy, with potential to unlock a significantly larger addressable market for Technegas in one of the world’s largest disease categories. COPD is one of the top five leading causes of death worldwide, affecting hundreds of millions of people globally and causing an estimated 3 to 4 million deaths each year. Successfully demonstrating Technegas’s utility in guiding COPD interventions could position the technology as an essential component of next-generation respiratory care.
Understanding Technegas Technology
Technegas is a radiopharmaceutical imaging agent used in functional lung ventilation imaging. The technology produces a structured ultra-fine dispersion of radioactive labelled carbon by heating dried Technetium-99m in a carbon crucible to approximately 2,700°C for a few seconds. This process creates a gas-like substance that patients inhale via a breathing apparatus.
Once inhaled, the ultra-fine carbon particles distribute throughout the lung based on airflow patterns. Because Technegas behaves like a gas rather than an aerosol, it reaches even poorly ventilated areas of the lung. A gamma camera or single photon emission computed tomography (SPECT) camera then captures multiple views and tomography images, allowing clinicians to evaluate functional ventilation patterns.
This functional imaging capability is what makes Technegas particularly valuable for the COPD application. Traditional anatomical scans show lung structure but cannot reveal which lung segments are contributing effectively to breathing and which are damaged or inefficient. Technegas functional imaging provides this critical information, enabling clinicians to identify precisely which lung segments should be targeted for treatment to achieve optimal patient outcomes. Historically used in the diagnosis of pulmonary embolism, Technegas is increasingly being utilised in other disease states, including COPD, asthma, pulmonary hypertension, and certain interventional applications.
What to Watch For
The ESSA Study provides several near-term catalysts for investors to monitor. First patients are expected to commence treatment in the coming weeks, marking the study’s operational commencement. Recruitment will progress over approximately 12 months, with 34 patients enrolled in total. Cyclopharm has indicated it will provide updates as the study progresses and clinical outcomes become available.
The study’s progress will offer insight into both the technical feasibility of the ESSA procedure and Technegas’s effectiveness in guiding segment-specific lung interventions. Positive outcomes could validate the broader “Beyond PE” strategy and support regulatory and reimbursement discussions for expanded Technegas applications. The integration of AI analytics from Thirona also positions the study as a proof point for next-generation precision medicine approaches in respiratory care, potentially opening additional commercial pathways beyond the immediate COPD application.
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