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Affimer biotherapeutics and reagents group Avacta said it had received approval from UK health authorities to move ahead with with its trial of its lead drug candidate to treat cancer.
The approval, for a phase I clinical study, was the first-in-human, study to be carried out in the UK in patients with locally advanced or metastatic solid tumours, which are known to be fibroblast activation protein (FAP) positive.
In animal models, the company's drug candidate AVA6000 had been shown to 'significantly increase the amount of active drug in a tumour compared with the heart and has significant potential to improve tolerability and achieve better clinical outcomes for patients,' it added.
The company said it would provide a further update on teh timing of the dosing of the first patient and on the clinical data in due course.
At 9:55am: (LON:AVCT) Avacta Group PLC share price was 0p at 111.5p