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Pharmaceutical firm Viventia Biotech has released an update on the phase III clinical trial of its drug Proxinium for head and neck cancer.
The medication is currently undergoing a global TARGET trial in around 300 patients with advanced head and neck cancer.
Viventia has now completed an interim assessment of survival data, and claims this shows the drug demonstrates a clear survival advantage.
The company said it is now considering “potential strategic opportunities” which may include the firm being sold off or merged with another business.
Dr Nick Glover, president and CEO of Viventia Biotech, said: “”We have successfully advanced three antibody programs into clinical trials, and are about 12 months from expected final efficacy data for our pivotal phase 3 TARGET trial of Proxinium.
“We believe that our recently performed interim efficacy analysis of survival data from TARGET strongly supports the future prospects for this drug.
“In addition to our clinical programmes, we have generated a broad pipeline from our antibody discovery platform, which has yielded a number of compelling novel targets, including several that have expression profiles consistent with cancer stem cells, an exciting new area of cancer research.
“We believe it is important to explore all options to ensure adequate resources are available for the advancement of our products through to commercialisation and to further recognise the value of our proprietary discovery platform.”
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