Platinum today: (Picoplatin - Phase 1) Platinum-based cancer treatment moves to clinical trial phase

Platinum-based cancer treatment moves to clinical trial phase 1st March 2011

Chinese authorities have given the go-ahead for clinical trials of a new platinum-based cancer treatment.

Poniard Pharmaceuticals was granted Clinical Trial Application (CTA) approval by the Chinese State Food and Drug Administration (SFDA) to progress with two Phase III clinical studies of picoplatin for the treatment of small cell lung cancer and ovarian cancer.

The biopharmaceutical company said picoplatin has already shown promise in treating both these types of cancer.

It is designed to overcome platinum resistance associated with chemotherapy in solid tumours, the company explained.

Ronald A Martell, chief executive officer of Poniard Pharmaceuticals, described the SFDA decision as a "milestone", which combined with two recent draw downs totalling $3.4 million (£2.1 million), will provide the company with additional leverage as it works towards completing its strategic review.

"We believe that CTA approval from the SFDA enhances picoplatin's value proposition to potential partners in two important disease settings in which picoplatin has demonstrated strong clinical potential," he added.

Source:

Poniard Pharmaceuticals Receives Chinese State FDA Approval for Clinical Development of Picoplatin (01/03/11)