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FastForward Innovations' investee unit to start clinical trials on cancer candidate

Last updated: 16:31 16 Apr 2020 BST, First published: 14:31 16 Apr 2020 BST

FastForward Innovations Limited - FastForward Innovations' investee to start clinical trials on cancer candidate

FastForward Innovations Limited (LON:FFWD) has announced that a portfolio company of its investee company Portage Biotech has entered clinical trials for its lead candidate to treat solid cancer tumours.

The group noted that Portage Biotech - in which FastForward holds 1.18% stake - said that Intensity Therapeutics will evaluate the safety and efficacy of INT230-6 when dosed in combination with Yervoy, a treatment developed by its partner Bristol-Myers Squibb Co (NYSE:BMY).

READ: FastForward Innovations updates on progress of portfolio firms

"We are delighted that Intensity has entered into this collaboration agreement with Bristol Myers Squibb Company, a leader in the cancer immunotherapy space,” said FastForward’s chairman Lorne Abony in a statement.

“This follows Intensity's announcement of 30 March 2020, confirming that the safety led portion of its initial patient dosing using a combination of its own INT230-6 drug and Merck's Keytruda as part of a clinical trial collaboration agreement with Merck to kill tumours and increase immune system recognition has been successfully completed,” he added.

FastForward shares were up 10% to 6.85p on Thursday afternoon.

Portage shares to resume trading shortly

FastForward Innovations also noted a separate statement on Thursday from Portage Biotech in which it said the Ontario Securities Commission had revoked its Failure-to-File Cease Trade Order issued against the company on August 2, 2019, effective from April 15.

It noted that, as a result, trading in Portage's common shares on the CSE was expected to resume shortly

The group also noted that Portage also said that the coronavirus (COVID-19) pandemic has resulted in delays for some of its operating companies, however, it is expected that these will be short-lived and when quarantines are lifted, activities will quickly return to normal.

 -- Adds second statement on Portage --

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