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(Alliance News) - Avacta Group PLC said Friday that the first patient has been dosed in its trial evaluating a novel pro-drug of Doxorubicin, a chemotherapy medication used to treat cancer.
The AVA6000 phase 1 trial is studying patients with locally advanced or metastatic selected solid tumours and will see patients receive ascending doses of the drug to determine the maximum dose and recommended phase 2 dosage.
Cancer therapies developer Avacta reiterated that the dose escalation phase of the trial is anticipated to complete by the second quarter of 2022 followed by completion of the dose expansion phase by the second quarter of 2023.
The first patient received the dose of AVA6000 at The Royal Marsden NHS Foundation Trust.
Chief Executive Alastair Smith commented: "The initiation of the first in human phase I clinical study for AVA6000 marks the transformation of Avacta into a clinical stage biopharmaceutical company. It is an outstanding achievement by the team and we are extremely proud of what has already been achieved."
If the study shows that the AVA6000 drug is effective in reducing systemic toxicity of Doxorubicin in humans, then it would open up an "extensive and proprietary pipeline" for Avacta of pro-drug chemotherapies with "significant clinical and commercial advantages in a chemotherapy market that is expected to exceed USD74 billion by 2027", Avacta said.
Avacta shares were up 4.6% at 128.60 pence in London on Wednesday before midday.
By Will Paige; willpaige@alliancenews.com
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