Race Oncology Signs Nearly AU$9 Million Contract to Support Drug Candidate Development

MT Newswires Live

03-05

Race Oncology (ASX:RAC) signed an AU$8.6 million contract with the Contract Research Organization, George Clinical International, to support the RAC-010 Phase 1 trial of its RC220 bisantrene drug candidate in combination with doxorubicin in adult patients with advanced tumors across sites in Australia, Hong Kong, and South Korea, according to a Wednesday Australian bourse filing.

This covers all outsourced trial-related services, investigator grants, and pass-through costs for up to 53 patients for the dose escalation and dose expansion stages of the trial.

After an interim analysis, the optimal dosage of RC220 bisantrene in combination with doxorubicin will be evaluated in further patients for safety, tolerability, and preliminary cardioprotective and anti-cancer efficacy properties.

Its shares rose 3% on market close on Wednesday.

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