Redx Pharma Plc (LON:REDX) saw its shares jump on Monday after the firm said it had received the regulatory green light to re-commence its phase I/II clinical trial of RXC004 on people with solid tumours.
It means the company is on track to restart the study as planned in the first-half.
RXC004 is a new breed of cancer drug called a porcupine inhibitor, with this particular formulation targeting the Wnt signalling pathway, which known to be heavily involved in cell growth and division.
Patients receiving the oral medication will do so at much lower starting doses than originally planned.
“We have learnt a significant amount from the first patient treated with RXC004, and this provides the basis for an optimised RXC004 development plan as well as the confidence to evaluate the clinical potential of RXC004 in cancer patients,” said Natalie Cook, consultant oncologist and principal investigator from the Christie Hospital in Manchester.
Redx chief executive Lisa Anson said she believes the putative treatment has potential used on its own and in combination with standard of care treatments.
“We look forward to working closely with our expert clinical oncology colleagues across the U.K. on this exciting programme,” she added.
In early morning trading, Redx shares were 10.7% higher at 7.75p.
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