IQ-AI Ltd (LSE:IQAI, OTCQB:IQAIF), the medical technology and pharmaceutical company, saw its shares pop 5% after it revealed its subsidiary had received US Food & Drug Administration approval to launch an expanded access programme (EAP) for its therapeutic drug.
Imaging Biometrics said its therapeutic candidate gallium maltolate has been approved to be used in an EAP for adult patients suffering from recurrent or refractory glioblastoma.
EAPs are programmes used to help patients who cannot access clinical trials by providing them with access to potential treatments before their regulatory approval.
When patients suffer from serious or life-threatening diseases which have no known treatment, doctors can provide them with therapy through an EAP.
Trevor Brown, chief executive of IQ-AI, said: “Considering the dismal prognosis of high-grade brain tumours, and following the encouraging safety profile and tolerance demonstrated in the ongoing phase 1 clinical trial at the Medical College of Wisconsin, we believe it is appropriate to initiate an EAP.
“This will enable more patients to potentially benefit from the treatment.”