Imaging Biometrics Ltd (LSE:IBAI, OTCQB:IQAIF) has announced a soft close to its phase I trial of oral gallium maltolate for adults with relapsed or treatment-resistant glioblastoma, signalling that the study has reached sufficient enrollment to progress to the next stage.
The company said no new patients will be recruited at this point, but the trial remains active for those already participating.
This approach allows the team to consolidate data, analyse clinical endpoints and finalise the design for a phase II study. Final internal approvals from the Medical College of Wisconsin Cancer Center are still pending.
Oral gallium maltolate, which is taken once daily at home, is designed to disrupt iron metabolism in tumour cells.
Imaging Biometrics highlighted its favourable safety profile and tolerability, suggesting it could offer a new approach in the treatment of glioblastoma, a form of brain cancer that is often difficult to treat.
Management is weighing options for funding the next phase of development, including the possibility of independently financing the phase II trial or entering into new partnerships.
The company said it would provide further updates as the study moves towards formal closure and results publication.