Clavis Pharma ASA gets cash injection
Oslo – Norwegian drug delivery specialist Clavis Pharma ASA has received an unsecured loan of NOK20m ($3.2m) from Innovation Norway to kick-off a phase III registration trial with elacytarabine in patients with late-stage acute myeloid leukaemia (AML). The lipid-conjugated form of the anti-cancer drug cytarabine (Ara-C) prolonged median survival by 5.3 months compared to 1.5 months with standard treatment in a phase II study with 594 volunteers. Remission rates significantly increased (14.8% vs. 2.5%), and short-term mortality was substantially lowered (13% vs. 25%). The registration trial will start in the first half of 2010. Clavis Pharma announced that it has also received approval to enrol 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 $380m to US-based Clovis Oncology (more…).