The Starpharma Ltd (ASX: SPL) share price has jumped 8% higher in early trade after the company provided an update on its phase 1/2 clinical trial for its colorectal cancer drug, DEP irinotecan.
What did Starpharma say in its latest update?
Starpharma said that it has received the necessary regulatory and ethics approvals and will commence its phase 1/2 clinical trial for DEP irinotecan.
According to the release, the objectives of the trial are to evaluate the safety, tolerability, and pharmacokinetics (looking at the way the drug moves through the body) of DEP irinotecan to define a recommended phase 2 dose (RP2D) and to determine anti-tumour efficacy of the product in select tumour types.
DEP irinotecan is the third DEP product to enter the clinic from Starpharma's internal portfolio with a fourth, partnered DEP candidate, AZD0466, also set to enter the clinic later this year.
The company said that the DEP irinotecan trial will be conducted at multiple leading UK cancer centres including The Christie, The Royal Marsden and Newcastle Freeman Hospital as the initial trial sites.
Additional sites in the UK and Australia will open and commence recruitment as the trial progresses and for the phase 2 part of the trial. Approximately 40-45 patients will be enrolled across the combined phase 1/2 trial.
What does the drug do?
lrinotecan, a widely used cancer drug marketed by Pfizer as Camptosar or Campto, is used alone or in combination with other drugs for the treatment of colorectal cancer (CRC).
Despite United States Food and Drug Administration (FDA) "Black Box" warnings for some adverse side effects, Starpharma said that Camptosar achieved peak annual sales of US$1.1 billion.
The Aussie pharmacy group said DEP irinotecan has shown a number of benefits compared to the original form of irinotecan, including significant improvements in anti-cancer efficacy and improved survival in multiple human cancer models.
CRC is one of the most common cancers in the world, affecting more than 1 million individuals annually, and is the fourth-leading cause of cancer-related death.
Foolish takeaway
Starpharma is making strong progress on a number of its drug trials and could soar if it can demonstrate strong clinical results and commercialise its cancer treatment products.
The Starpharma share price is currently trading at $1.33 per share prior, 10 cents higher than the closing price on Wednesday.
