Sapu Nano, a 45‑percent owned joint venture of Oncotelic Therapeutics, announced on December 2, 2025 that its Deciparticle platform can consistently formulate a diverse array of hydrophobic drugs into sub‑20 nm nanoparticles for intravenous delivery. The announcement was made during the San Antonio Breast Cancer Symposium, where the company presented data showing the platform’s polymer can produce monodisperse particles around 15 nm that encapsulate macrolide mTOR inhibitors, cyclic and linear peptides, ascomycin macrolactams, and polyketides.
The Deciparticle technology uses a single mPEG polymer to achieve the 15‑nm size, enabling the encapsulation of multiple therapeutic classes while maintaining stability and manufacturability. The platform was highlighted in the presentation “Deciparticle™ Platform Demonstrates Broad Formulation Capability Across Therapeutic Classes” and the abstract “Deciparticle™ Everolimus (Sapu003): From Cytostasis to Cytotoxicity via a Single mPEG Polymer and Clinic‑Ready Manufacturing.”
Sapu Nano’s ISO‑5 cGMP facility in San Diego is already capable of scaling production for Phase 1 clinical trial supply. The company has begun scaling for its lead candidate, Sapu‑003 (Deciparticle Everolimus), which entered Phase 1 in Australia. The facility’s capacity supports the joint venture’s plan to launch a Hong Kong IPO in 2026, providing a potential liquidity event for Oncotelic shareholders.
Oncotelic Therapeutics reported a Q3 2025 net loss of $1.05 million, a sharp improvement from the $3.30 million loss in the same quarter a year earlier, largely because the company avoided a goodwill impairment that hit the prior year. Service revenue remained zero, and the company continues to face a going‑concern warning due to cumulative losses and negative working capital. The Deciparticle breakthrough therefore represents a critical growth engine that could help the JV unlock valuation upside and provide a path to liquidity for Oncotelic shareholders.
Dr. Vuong Trieu, CEO of Sapu Nano, said the platform “has emerged as a broad, modular nanomedicine engine capable of formulating multiple classes of hydrophobic drugs that were previously constrained by solubility and delivery barriers.” The technology expands the JV’s pipeline beyond a single asset, positioning it to pursue oncology, immunology, and peptide therapeutics. An independent third‑party valuation of the JV’s pipeline at approximately $1.7 billion, announced in November 2025, underscores the market’s recognition of the platform’s value and fuels expectations for the 2026 IPO.
While Oncotelic’s financials remain fragile, the platform’s success and the upcoming IPO are likely to attract investor attention. Analysts have noted that the valuation of the JV and the platform’s scalability are key drivers of potential upside, even as the parent company’s cash burn and debt load remain concerns. The announcement signals that the joint venture is moving from proof‑of‑concept to commercial‑ready manufacturing, a transition that could materially alter the company’s long‑term prospects.
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