Faron Pharmaceuticals Limited (AIM:FARN) said the "excellent data" from its BEXMAB trial of cancer drug bexmarilimab has "intensified numerous ongoing partnering discussions", which it will advance over the coming year.
The trial was particularly significant as it targeted a patient group with MDS, an aggressive form of leukaemia that typically has limited treatment options. The early cohort comprised 10 and was split into two: higher-risk frontline MDS patients and those who had failed to respond to hypomethylating agents (HMAs).
Bexmarilimab, which has now entered phase II trials, achieved an overall response rate of 100%. Most responses were deep and durable with 7 out of 10 MDS patients achieving complete remission/marrow complete remission and two demonstrating partial remission.
Finding a partner or partners for bexmarilimab would fast-track its development.
"I am excited for the company's future in 2024," said chief executive Markku Jalkanen.
"The latest stage of the BEXMAB trial will provide important data to support our continued discussions with the FDA and, we hope, provide us with a clear pathway to bringing bexmarilimab to patients.
"Our confidence grows in the potential of this novel therapy to provide better patient outcomes and improve the quality of life of those suffering from aggressive haematological cancers.
"The excellent BEXMAB data have intensified numerous ongoing partnering discussions, and we are looking forward to advancing these discussions over the coming year."
The loss for the 12 months ended December 31 was €30.9 million, while it exited 2023 with €6.9 million in the bank. Since then it has raised a further €3.2 million and is in discussions to find further short- and long-term funding.