Cancer drug program lift
SHARES in Australian biotech Prima Biomed have surged more than 40 per cent after it received European endorsement for the development program of a drug to treat breast cancer.
Prima is planning a Phase IIb clinical trial of its lead product, IMP321, on about 200 patients with metastatic breast cancer due in the later part of this year.
Prima said yesterday it had received positive scientific advice from the London- based European Medicines Agency ( EMA) on the development path for IMP321. The EMA is responsible for the scientific evaluation of medicines developed by pharmaceutical companies for use in the European Union.
Scientific advice is a procedure offered by the EMA to pharmaceutical firms to clarify questions arising during the development of medicinal products.
Prima shares closed 2.6¢, or 44.07 per cent, higher at 8.5¢.