- Pharmaceutical company Telix and AusHealth will partner up to trial a new drug to combat lung and ovarian cancer
- Both companies will invest A$300,000 to fund a human clinical trial
- The drug could be used to treat other forms of cancer in the near future, however, lung and ovarian cancer remains the current focus
- Telix stocks dipped slightly to A$1.62 this morning, recording a fall of 0.31 per cent
Telix will partner with AusHealth to trial a new drug used to combat lung and ovarian cancer.
The treatment uses Molecularly Targeted Radiation (MTR) on a new antibody platform known as APOMAB to fight cancerous tumours.
Telix and AusHealth's new partnership will fund a human clinical trial for the drug to help researchers get a better sense of how targeted radiation therapy affects cancer patients.
Royal Adelaide Hospital oversaw the development of the new MTR drug, where AusHealth was involved as a research partner.
The company is also expected to oversee the trial process, with each partner investing A$300,000 to fund the evaluation.
AusHealth Managing Director and CEO Greg Johansen said Telix brought important radiochemistry knowledge and commercial expertise to the table.
"The combined capability of Telix and Professor Brown’s world-class team at RAH represents the best possible collaborative effort to bring this important technology to patients," Greg said.
The MTR technology uses antibodies to target cancerous cells with radiation. Each antibody identifies a specific protein which exists on the outside of the tumorous cells, delivering a targeted radiation dose.
Both companies have indicated there's potential for the drug to treat other forms of cancer in the future, but for now, lung and ovarian cancer remains the current focus.
Telix CEO Dr Christian Behrenbruch said targeted radiation therapy has been proven to be tremendously effective in treating multiple forms of cancer.
"The APOMAB approach may enable the use of this treatment modality in several new cancer indications that are not currently covered by Telix’s pipeline," Dr Christian continued.
Telix stocks dipped slightly to $1.62 this morning, recording a fall of 0.31 per cent. The pharmaceutical's market cap sits just under $412 million.