Who definitely deserves credit in the fight against cancer: NetraMark, Moderna, BioNTech

BioNTech and Moderna in the oncology race

We Germans often view the biotech market a bit one-sidedly - the success of Mainz-based mRNA pioneer BioNTech still resonates. The Company won the race to develop the first mRNA vaccine against COVID-19 during the pandemic. But just as close as that race was against its US biotech rival Moderna back then, the competition remains tight today when it comes to developing new products, such as those for cancer. It seems that Moderna currently has a slight edge: Together with Merck, the Company is developing the personalized mRNA cancer vaccine mRNA-4157/V940, which, in combination with the immunotherapy drug Keytruda, was able to reduce the risk of relapse in melanoma patients by up to 49% in a Phase II study. This cancer vaccine is considered the first mRNA therapy with proven efficacy in a randomized cancer study, has been granted "Breakthrough Therapy" status by the US Food and Drug Administration (FDA), and is currently in Phase 3. Moderna expects to launch the vaccine in 2027. Moderna is also testing other mRNA candidates against cancer, such as mRNA-4359, which achieved a response rate of 67% in certain melanoma patients in an earlier study and is considered "unique and promising" by the Company.

BioNTech is also active in this field, but has not been able to generate such headlines recently: BioNTech's pipeline includes the individualized mRNA vaccine BNT122 against various tumors, developed jointly with Roche, which is currently in Phase 2. Another project is BNT111, a fixed antigen mRNA vaccine against skin cancer. The Mainz-based company is focusing on combination therapies – CEO Uğur Şahin believes the future lies in combinations of mRNA vaccination, cell therapy, and chemotherapy to first shrink tumors and then destroy them immunologically.

Fierce competition in cancer drugs – NetraMark makes studies better and faster

According to asset manager APO Asset, spending on cancer drugs is expected to rise significantly by 2028, with over 100 new cancer drugs expected to be available by then. In addition to Moderna and BioNTech, many other companies are also competing in the race to develop the most effective therapies. Of course, time is of the essence – whoever is first to market often prevails. This is especially true when drugs or vaccines are similarly effective. The Canadian company NetraMark supports drug studies with its own AI technology. The goal: to make research faster, more precise, and more cost-effective. Every year, research companies spend around USD 240 billion on innovation – NetraMark helps companies achieve greater success with less expenditure. Specifically, NetraMark offers NetraAI, an AI platform that is specifically trained to analyze clinical trial data to uncover hidden patterns and patient subgroups. Unlike many AI companies that focus on screening massive datasets for potential active ingredients, NetraMark specializes in understanding limited, complex study datasets. The core idea here is that in almost every clinical trial, there are heterogeneous patient subgroups - such as non-responders to the drug or subjects who respond strongly to placebos. These "hidden" groups can dilute results and lead to the failure of a therapy that is actually effective. NetraMark's AI identifies such subpopulations in a mathematically robust and explainable way to optimize study design and evaluation. This focus on explainable subgroup identification sets NetraMark apart from many competitors.**

In a study published in June, NetraAI was tested against established AI models using real clinical data sets (schizophrenia, depression, and cancer). While generic AI models failed to produce clear results, NetraAI was able to identify precise and interpretable patient groups and significantly increase prediction accuracy. For research, this translates into concrete savings: by optimizing inclusion and exclusion criteria in studies, efficacy signals can be detected more clearly, and costly failures can be effectively avoided. This unique selling point has already convinced several of NetraMark's partners in recent quarters. Among others, the Company is collaborating with the renowned contract research organization Worldwide Clinical Trials, which offers NetraAI to its clients. This helps to raise awareness of the solution and paves the way for further collaborations.

NetraMark solves problems, making the stock attractive

While it is difficult for investors to predict the upcoming winners in the race to fight cancer, NetraMark offers a comprehensible investment story. As a service provider, the Company helps save costs and accelerate research timelines. As was the case during the gold rush, the business of such solution providers is likely to be more stable than that of biotech adventurers who may rely on a single product in the pipeline. NetraMark's stock has been trading sideways for months, giving investors the opportunity to study the business model at their leisure. However, potential investors should not take too long to decide - with the Company valued at only EUR 65 million, a single corporate announcement could change everything.