ASX-LISTED Race Oncology says it is on the verge of commercialising a cancer drug that was "developed and shelved by big pharma in the United States".
The company is working on chemotherapy medication Bisantrene, with the aim of bringing it to market in countries that allow pre-FDA approved drugs on a compassionate basis.
Bisantrene is used to treat Acute Myeloid Leukaemia, and Race Oncology ceo Peter Molloy estimates at least US$100 million was invested in the drug prior to it being "cast aside".
Race Oncology has filed new patents on the drug, been granted USA Orphan Drug designation and is also exploring additional cancer uses for Bisantrene via a proposed joint venture with Swiss firm TargImmune Therapeutics to use the drug in combination with 'targeted cancer therapy' technology.
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