(Alliance News) - Tiziana Life Sciences PLC on Friday said it has acquired an antibiotic which can be used to treat acute myeloid leukemia, a type of bone marrow cancer.
Tiziana will pay Rasna Therapeutics Inc an initial USD120,000 for Actinomycin D technology but could part with USD630,000 in milestone payments.
Tiziana said: "Act D, an antibiotic drug, was approved initially for infectious diseases in the United States in 1964. Subsequently, this antibiotic was shown to exhibit anti-cancer activity in 1974.
"Since then the drug has been used to treat various types of cancer, including Wilms tumour, rhabdomyosarcoma, Ewing's sarcoma, trophoblastic neoplasm, and testicular cancer."
Recent studies have found that, as an inhibitor of RNA synthesis, Act D may also have the potential to treat Covid-19 patients.
Shares in Tiziana closed 5.3% higher at 50.00 pence each in London on Friday.
By Eric Cunha; ericcunha@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.