Evgen Pharma PLC (LON:EVG) said its lead compound has been shown to inhibit a protein associated with a number of different cancers.
Research carried out by Professor Philip Eaton, of Queen Mary University of London, showed SFX-01 was able to decrease the activity of SHP2.
This is a non-receptor protein tyrosine phosphatase that is associated with breast cancer, leukaemia, lung cancer, liver cancer, gastric cancer, laryngeal cancer and oral cancer.
"SHP2 has been a target of some interest for a while, but to date attempts to develop an inhibitor have had limited success,” said Evgen chief executive, Dr Huw Jones in a statement.
“We are delighted that the data generated by Professor Eaton demonstrates that SFX-01 acts on SHP2 in a novel manner and offers the potential for its use in a number of cancers with great clinical need."
The latest data follows hard on the heels of another pre-clinical landmark, which suggested SFX-01 could also potentially provide a potent treatment for glioma and glioblastoma.
Evgen is developing medicines based on sulforaphane, a sulfur-rich compound found in vegetables such as broccoli, bok choy, and cabbage.
Its core technology is Sulforadex, a method for synthesising and stabilising the naturally occurring compound.
The group's lead product, SFX-01, is a patented composition of synthetic sulforaphane and alpha-cyclodextrin.
Evgen has successfully completed a phase IIa trial of its drug in women with certain forms of advanced breast cancer.