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ValiRx (LON:VAL) is to increase the dose of cancer treatment VAL201 to an expected therapeutic level after no adverse effects in the Phase I/II trial in advanced prostate cancer.
The drug developer believes the next dose escalation may show anti-tumour activity, which it said would continue a trend seen throughout the clinical trial.
Higher dosages over the past month returned similar results in delaying the progression of advanced or metastatic prostate cancer to those in pre-clinical studies.
Satu Vainikka, chief executive, said: "Again it is good to be reporting that the VAL201 trial continues to proceed well and as planned.
"I am pleased to say that, at this stage, a good safety profile has been seen and potential efficacy continues to be noticed.
"We are now nearing dose levels that we originally projected would be therapeutically significant.”
VAL201 selectively prevents tumour growth by specifically inhibiting the proliferation of tumour cells; as a result, tumour growth is suppressed and metastasis is significantly reduced.
Earlier in the week, ValiRx announced a second drug, non-small cell lung cancer treatment VAL401, would be put through a Phase IIb trial by specialist firm Clincial Accelerator.
This drug is being developed through a joint venture with Tangent Profiling.
ValiRx shares jumped 27% to 42.1p.