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ValiRx (LON:VAL) has appointed clinical trial specialist Clinical Accelerator to carry out the work on a Phase IIB study for lung cancer treatment VAL 401.
The drug is being developed through a joint venture with Tangent Profiling to target patients with non-small-cell lung adenocarcinoma, the most common form of the disease.
The trial’s parameters are the drug’s effectiveness against the disease, absorption and movement through the body and safety and tolerability.
Satu Vainikka, ValiRx's chief executive, said: "As the second ValiRx product to enter the clinical trial process, I look forward to seeing the potential of the VAL401 project being crystallised through the collection of a first set of real world patient data."
The company also has a phase I/II trial underway for VAL201, to treat people with advanced or metastatic prostate cancer and other advanced solid tumours at UCH in London.
Broker Northland said VAL401 is a novel reformulation of a generic drug that has over twenty years of clinical use in the treatment of mental disorders.
As such, the drug’s safety profile is well established.
ValiRx is now reformulating the drug for the treatment of lung cancer, given strong pre-clinical data supporting this new indication.
Shares eased to 35.4p.