Nedlands-based biotech com- pany PharmAust has taken a crucial step in the commercialisation of one of its cancer drugs, announcing the approval of human clinical trials.
Its PPL-1 drug, which the company hopes will slow the growth and cause regression in types of late-stage tumours, will start phase one and two clinical trials at the Royal Adelaide Hospital with between 12 and 15 people.
PharmAust said it hoped to start the trial in May and expected about three patients to become suitable each month.
PharmAust, which was yesterday valued at $17.2 million, had a small share price kick on the back of the announcement, rising 0.1ï¿½ to 1.1ï¿½.
The company said the trial would include patients suffering from a variety of late-stage cancers, such as lung cancer or breast cancer, but ovarian cancer was expected to be its more suitable fit.
PharmAust executive chairman Roger Aston said the first priority of the trial was to show the product was safe.
The biotech company, which had $2.7 million in the bank at December 31, has been flagged by market observers as a stock worth watching in the sector.