Clavis receives cash injection
Oslo – Norwegian drug delivery specialist Clavis Pharma ASA has received an unsecured loan of NOK20m (EUR2.4m) from the governmental body Innovation Norway to kick-off a Phase III registration trial with elacytarabine in 350 patients with late-stage acute myeloid leukaemia (AML). The trial will start in the first half of 2010. Elacytarabine is a lipid-conjugated form of the anti-cancer drug cytarabine that is aimed at improving treatment of patients with AML and other haematological malignancies. Clavis Pharma announced that it has also received approval to enroll patients in a Phase II study for elacytarabine in combination with idarubicin in AML patients who have failed their first course of treatment. At the end of November, Clavis licensed out its pancreatic cancer drug CP-4126 for US$380m to US-based Clovis Oncology.