DelMar Pharmaceuticals, Inc. is developing a new drug intended to treat various forms of cancer
Vancouver, BC -- (SBWIRE) -- 09/09/2014 -- DelMar Pharmaceuticals, Inc. (OTCQB: DMPI) is developing a new drug intended to treat various forms of cancer, including a recurrent form of Brian Cancer, glioblastoma multiforme. The DelMar treatment VAL-083 is in Phase l/ll trials and showing promising results.
DelMar reported results of their ongoing clinical trial with VAL-083 at the annual meetings of both the American Association of Cancer Research (AACR) and the American Society of Clinical Oncology (ASCO). Data presented indicates that VAL-083 is safe, effective, and well tolerated. DelMar points out that some patients are already showing positive results, demonstrated stable disease, after only one or two cycles of low-dose treatment.
With these promising successes, DelMar has sought permission from the FDA to allow testing with increased dosage. The company believes that higher doses may enhance the potential of VAL-083 to impact a patient’s tumor and improve patient outcomes.
Ultimately, DelMar believes advancing to higher doses will increase the chance of success in achieving the longer-term goal to commercialize VAL-083 as a new chemotherapy for glioblastoma patients, especially patients who have failed or are unlikely to respond, to currently available treatments.
Jeffrey Bacha, president and CEO of DelMar, stated, “Patients being enrolled in our current clinical trial have a growing brain tumor that has failed to respond to any other approved treatment. The correlation between tumor progression and death in this patient population is well documented; therefore, our interim results demonstrating that VAL-083 can either stabilize disease progression by halting tumor growth or shrink the tumor is expected to result in longer patient survival and improved quality of life. We anticipate enhanced response rates as we progress to higher doses and keep patients on treatment longer during future registration-directed clinical trials.”
DelMar plans to advance clinical trials with VAL-083 as a potential treatment for GBM patients who have failed therapy with both Temodar® and Avastin®. Currently, there is no available or approved therapy for these patients and their prognosis is very poor, with a life expectancy of only weeks to months. DelMar is currently conducting a Phase I/II clinical trial at three centers: The Brain Tumor Center at University of California, San Francisco (UCSF), The Sarah Cannon Cancer Research Center (SCRI) in Nashville, Tenn., and the SCRI affiliate site at the Florida Cancer Specialist Research Institute in Sarasota, Fla. Details of the clinical trial can be found at:
Mr. Bacha reiterated, “The goal of the current Phase I/II clinical trial is to reestablish the maximum tolerated dose of VAL-083 under our modernized dosing regimen for advancement into registration directed trials in the United States as a potential new therapy for the treatment of refractory GBM as soon as possible.”
DelMar has received four nonrefundable grants from the National Research Council of Canada (NRC), totaling CDN $327,000, and DelMar Pharmaceuticals, Inc (OTCQB: DMPI) has also attracted the attention of long time Wall Street analyst, Jason Kolbert of Maxim Group.
DelMar will be presenting to prospective investors this week at Rodman Renshaw 2:55 pm EDT at the New York Plaza Hotel and the SeeThru Equity Microcap Conference at 11 am EDT at Convence Time Square, both in New York City
About DelMar Pharmaceuticals
DelMar Pharmaceuticals 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. The Company’s lead asset, VAL-083, is currently undergoing clinical trials in the United States as a potential treatment for recurrent glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer. VAL-083 benefits from extensive clinical research sponsored by the U.S. National Cancer Institute (NCI) and is currently approved for the treatment of chronic myelogenous leukemia (CML) and lung cancer in China. Published pre-clinical and clinical data suggest that VAL-083 may be active against a range of tumor types via a novel mechanism of action. DelMar’s scientific presentations can be viewed on the company’s website at http://www.delmarpharma.com.
Safe Harbor Statement
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any forward-looking statements contained herein are based on current expectations, but are subject to a number of risks and uncertainties. The factors that could cause actual future results to differ materially from current expectations include, but are not limited to, risks and uncertainties relating to the Company’s ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company’s products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company’s business, research, product development, regulatory approval, marketing and distribution plans and strategies. These and other factors are identified and described in more detail in our filings with the SEC, including, our current reports on Form 8-K. We do not undertake to update these forward-looking statements made by us.
For further information, please visit http://www.delmarpharma.com; or contact
Jeffrey A. Bacha, President & CEO (604) 629-5989 or Booke & Company Investor Relations, firstname.lastname@example.org