On January 9, 2017 DelMar Pharmaceuticals, Inc. (NASDAQ: DMPI) ("DelMar" and the "Company"), a biopharmaceutical company focused on the development and commercialization of new cancer therapies, reported an increase in funding of up to CDN$413,000 from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) to support ongoing research with VAL-083 (Press release, DelMar Pharmaceuticals, JAN 9, 2017, View Source [SID1234517323]).
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This increased funding will support additional research into VAL-083’s mechanism of action including validation of molecular targets responsible for the drug’s activity against cancer, investigation of combination therapies and pivotal in vivo models in new indications.
Research will be conducted in collaboration with the University of British Columbia, the Vancouver Prostate Centre and the B.C. Cancer Agency.
"We are very pleased with NRC-IRAP’s continued support of our non-clinical research of our lead product candidate VAL-083," said Jeffrey Bacha, chairman & CEO of DelMar Pharmaceuticals. "NRC-IRAP’s support to date has been instrumental in the progress our team has made in understanding VAL-083’s unique mechanism of action and to broadening the focus of our research into new indications."
About VAL-083
VAL-083 is a "first-in-class," small-molecule chemotherapeutic. In more than 40 Phase I and II clinical studies sponsored by the U.S. National Cancer Institute, VAL-083 demonstrated clinical activity against a range of cancers including lung, brain, cervical, ovarian tumors and leukemia both as a single-agent and in combination with other treatments.
DelMar’s research has demonstrated that VAL-083 is active against GBM cell lines that are resistant to standard-of-care chemotherapy due to features such as high expression of MGMT, in vitro.
DelMar presented data from its Phase I/II clinical trial in refractory GBM at the 2016 American Association of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual meeting demonstrating that the median survival of 22 patients receiving an assumed therapeutic dose of VAL-083 (≥20mg/m2) was 8.35 months following Avastin (bevacizumab) failure compared to published literature where survival of approximately two to five months has been reported.
VAL-083 has received an orphan drug designation in Europe for the treatment of malignant gliomas and the U.S. FDA Office of Orphan Products has granted an orphan designation to VAL-083 for the treatment of glioma, medulloblastoma and ovarian cancer.
Further details can be found at View Source