Race Oncology Ltd (ASX:RAC, OTC:RAONF) earlier this week highlighted its quarter milestones, noting it had treated the first patient in a clinical study of RC220, its reformulated version of bisantrene. The company said RC220 resolves solubility issues that limited the original compound’s use in clinical settings and now enables broader application beyond leukemias to include solid tumours. CEO Daniel Tillett sat down with Proactive to discuss the company's quarterly milestones.
Highlights
- Race Oncology treated its first patient with RC220, a reformulated version of bisantrene.
- RC220 resolves prior solubility issues, enabling broader clinical use beyond leukemias.
- The drug is now being trialled with doxorubicin to enhance anti-cancer effects and protect the heart.
- RC220 carries 20 years of patent life and maintains the original drug’s biological properties.
- Dr Jose Iglesias appointed as Chief Medical Officer; Dr Simon Fisher appointed as Vice President Medical.
- Over 83% of the quarterly spend went to R&D and manufacturing, reflecting Race’s focus on scientific development.
- RC220’s dual mechanism will be presented at the ESMO conference in Berlin later this year.
- Further trial updates and protected discoveries are expected throughout 2025.
Improving cancer efficacy
RC220 is being trialled in combination with doxorubicin, a standard chemotherapeutic, with the aim of improving cancer efficacy while also reducing the cardiotoxicity associated with doxorubicin. It said the reformulated drug retains the biological activity of the original bisantrene but is now stable in blood, which significantly expands its potential use. The company noted the new formulation carries a 20-year patent life.
Dr Tillett said the company is exploring a rare mechanism of action: “To be able to find a drug that can target the cancer better and also protect the organs in the body you don’t want damaged — that’s a very unusual combination.”
Appointments strengthen the team
Race also confirmed the appointment of Dr Jose Iglesias as Chief Medical Officer. The company said Iglesias will guide clinical development strategy given his experience with similar oncology compounds. It has also appointed Dr Simon Fisher as Vice President Medical to support clinical trial operations.
Race reported that over 83.00% of the quarter’s expenditure was allocated to research and development and drug manufacturing. Tillett said the company is committed to maximising shareholder value by focusing spend on drug development and minimising overheads.
What's next?
Looking ahead, Race said it expects to release further updates on the RC220 trial and disclose other research initiatives later in the year, pending intellectual property protection. Tillett commented that patent timing remains a critical factor in announcing discoveries.
The company also confirmed it will present new data on RC220’s cardioprotective and anti-cancer mechanism at the European Society of Medical Oncology (ESMO) conference in Berlin in October.