(Sharecast News) - Clinical-stage drug developer Evgen Pharma announced on Thursday that it has partnered with Dr Marjolein Geurts, a neuro-oncologist at Erasmus University Medical Centre, to start a ground-breaking research initiative in glioblastoma.
The AIM-traded firm said the project had received crucial support from a grant awarded by the KWF Dutch Cancer Society and officially began on 1 October after fulfilling all grant start conditions and documentation requirements.
It said the research, funded with grant money totalling €1.1m, would encompass preclinical investigations of SFX-01 in glioblastoma models, followed by a clinical investigator-sponsored study (ISS).
The ultimate goal was to ascertain the presence of the drug within human brain tumours and its interaction with pertinent molecular targets within excised tumour tissue.
Evgen said Dr Geurts and her team at Erasmus had also appointed a dedicated PhD student, supported by the grant, who would start their work in early November.
The project was slated to span three years, during which continuous data generation would be a primary focus.
Evgen Pharma said glioblastoma, though classified as a rare disease, had seen an increase in cases partly attributed to advancements in diagnosis and the ageing population.
The current standard of care for glioblastoma patients includes surgery, radiotherapy and chemotherapy.
However, the disease remained a significant unmet medical need, with patient survival rates between one and three years from diagnosis.
"Commencing this study is a significant step in determining the potential of SFX-01 as a therapeutic option for glioblastoma patients," said chief executive officer Dr Huw Jones.
"Previous preclinical studies with SFX-01 on glioblastoma have been striking so we look forward to this further validation and entry into the clinic in due course."
At 1149 BST, shares in Evgen Pharma were up 7.38% at 2.094p.
Reporting by Josh White for Sharecast.com.