GlaxoSmithKline PLC (LON:GSK) was among the top blue chip risers on Tuesday Morning after the UK drugs giant said it was encouraged by new data from a study of a potential treatment for multiple myeloma.
The FTSE 100 group said in the dose expansion phase of its DREAMM-1 Phase I/II study of GSK2857916, the antibody-drug conjugate demonstrated a 60% response rate and median progression-free survival of 7.9 months in MM patients who had been heavily pre-treated.
Multiple myeloma is second most common blood cancer in the US
"The patients participating in the DREAMM-1 trial had very limited options for further treatment, so we are encouraged by the response rate seen in this trial,” said GSK’s SVP Oncology R&D Axel Hoos.
“GSK2857916 is the leading asset in our emerging pipeline of potentially transformative Oncology medicines and we plan to rapidly progress its development programme, initiating pivotal monotherapy studies as well as new combination studies in 2018.”
Multiple myeloma is the second most common blood cancer in the US and affects blood cells in the bone marrow.
GSK shares rose 0.9% to £13.14 on Tuesday.