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Print Edition StoriesMonday, March 24, 2008
Pro-Pharmaceuticals gets OK for human trial of cancer drug
U.S. regulators will allow Pro-Pharmaceuticals Inc. to conduct a human test of the biotech company's lead drug to treat breast cancer, company officials said.
The U.S. Food and Drug Administration has granted the Newton-based Pro-Pharmaceuticals (AMEX: PRW) a "compassionate use" approval to treat a single breast cancer patient with its polymer-based drug, Davanat, in combination with chemotherapy and anti-cancer biologic Avastin, according to the cancer drug maker.
Davanat is designed to reduce toxicity of chemotherapy. Avastin, which is marketed by Genentech Inc., of South San Francisco, is a protein drug recently approved to be used with chemotherapy to treat breast cancer.
Pro-Pharmaceuticals (Amex: PRW), which is testing Davanat in Phase 2 trials for colon and biliary cancers, reported a 2006 net loss of $3.2 million with no revenue. The firm had eight workers as of September 2007.
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