VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 3, 2011) - DelMar Pharma today announced it has been awarded a non-refundable financial contribution from the National Research Council of Canada Industrial Research Assistance Program (IRAP).
IRAP funding will be used to partially support research related to the molecular mechanism of DelMar Pharma's lead anti-cancer therapy, VAL-083. DelMar Pharma plans to conduct this work in collaboration with the University of British Columbia and the BC Cancer Agency.
VAL-083 is a first-in-class small molecule chemotherapeutic that has demonstrated anti-cancer activity in previous clinical studies sponsored by the National Cancer Institute in the United States. DelMar Pharma has filed an investigational new drug (IND) application with the United States Food & Drug Administration (FDA) to conduct clinical trials with VAL-083 in patients suffering from glioblastoma multiforme (GBM) the most common and aggressive form of brain cancer.
"To rapidly develop and commercialize VAL-083, we are leveraging previous human clinical trial data demonstrating activity in GBM, including in patients having failed prior therapies. Based on these data, we believe that VAL-083 has potential to offer a new treatment option to physicians and patients," stated Jeffrey Bacha, President & CEO of DelMar Pharma.
Published data suggest that VAL-083 operates through a mechanism of action different from other chemotherapies approved for the treatment of GBM.
Bacha continued, "We are grateful for this financial contribution from the National Research Council of Canada Industrial Research Assistance Program. The important research being supported by IRAP will help to differentiate VAL-083 from currently available therapies and may assist in directing care toward patients most likely to benefit from this novel therapy."
About DelMar Pharma
DelMar Pharma was founded in 2010 to develop and commercialize proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments. Our lead asset, VAL-083, benefits from extensive clinical research sponsored by the US National Cancer Institute, and is currently approved as a cancer chemotherapeutic overseas. Efficacy has been demonstrated in a range of tumor types, including glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.