PharmAust closer to multi-billion dollar cancer market

ASX listed biotech company PharmAust has notched up a major milestone on its journey to develop an anti-cancer drug known as PPL-1.

 In a ‘first in man” clinical trial held at the Royal Adelaide Hospital recently the company said that their anti-cancer drug had showed “meaningful suppression” of a key cancer marker.

Importantly the drug also demonstrated a very good safety profile when compared to other established ant-cancer drugs according to the company.

During the trial, seven patients were treated with PPL-1 for various time periods and measurements were successfully taken for anti-cancer activity through cancer marker suppression.

PharmAust’s Executive Chairman Dr Roger Aston said “We have now completed the first stage of studies with PPL-1 in humans and canines and we have shown that in both cases PPL-1 is well tolerated and importantly is active against cancer.”

The company said that it was now looking to initiate discussions for licensing of the human cancer applications of PPL-1 as it seeks to enter the multi-billion dollar anti-cancer market.

Mr Aston also said that Pharmaust was looking to finalize agreement of a major commercialisation strategy relating to joint patents with a large Japanese group.