Global oncology provider GenesisCare has extended its agreement with biotech company Radiopharm Theranostics (ASX:RAD) to support a second clinical trial in Australia.
The first trial which is slated in the coming months will use Radiopharm’s prostate kallikreain targeting antibody to start a Phase 1 trial in prostate cancer.
The proprietary monoclonal antibody used to target free human prostate kallikreain in prostate cancer cells was discovered by Professor David Ulmert, previously at Memorial Sloan Kettering and now the University of California, Los Angeles.
The antibody platform enables a radiotheranostic applicable therapy of prostatic cancer through radioimmunotherapy and diagnosis of advanced prostate cancer.
In addition to this, Radiopharm has a trial targeting non-small cell lung cancer which means that there are two projects in the pipeline locally. Offshore, there are also two planned trials in the US to focus on HER2 breast cancer and pancreatic cancer.
Meanwhile, the biotech company has been building a team with its recent appointment being Dr Susann Brady-Kalnay PhD to the company’s scientific advisory board. Prior to this, the company welcomed an additional four people with extensive experience in clinical development to join their chief medical officer who is a professor of nuclear medicine from Cornell University in New York.
“GenesisCare is a leader in cancer care and to further the relationship with the Company adds to our confidence as we move through the various steps in our clinical development”.
“We look forward to getting to work on these trials and bringing updates to the market as they progress,” said chief executive officer and managing director Riccardo Canevari.
Shares are up 10 per cent to 16.5 cents.