Bionomics Limited's (ASX:BNO; ADR:BMICY) partner, the Cancer Therapeutics Cooperative Research Centre, will receive a further $34 million in Government funding over six years.
Bionomics is developing compounds targeting metastatic melanoma, in conjunction with the research centre
Its BL-011256 compound is being evaluated as an inhibitor of tumour metastasis, and has achieved proof of concept in an animal model.
The drug inhibits the VEGFR3 receptor, which mediates the formation of tumour lymphatic vessels that serve as conduits for metastasis to lymph nodes.
Around 90% of cancer deaths are caused by the cancer spreading from its original location, so mechanisms addressing metastasis are a key to saving lives.
Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.