VANCOUVER, BC — The National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP) is increasing its funding by up to CDN$413,000 in support of DelMar Pharmaceuticals ongoing research with its lead product VAL-083.
DelMar Pharmaceuticals is a biopharmaceutical company focused on the development and commercialization of new cancer therapies. VAL-083 is a “first-in-class,” small-molecule chemotherapeutic.
The new funding will support additional research into VAL-083’s mechanism of action including validation of molecular targets responsible for the drug’s activity against cancer, investigation of combination therapies and pivotal in vivo models in new indications.
Research will be conducted in collaboration with the University of British Columbia, the Vancouver Prostate Centre and the B.C. Cancer Agency.
“NRC-IRAP’s support to date has been instrumental in the progress our team has made in understanding VAL-083’s unique mechanism of action and to broadening the focus of our research into new indications,” said Jeffrey Bacha, chairman & CEO of DelMar Pharmaceuticals.
According to the company, VAL-083 has demonstrated clinical activity against a range of cancers including lung, brain, cervical, ovarian tumours and leukemia both as a single-agent and in combination with other treatments. The company has conducted more than 40 Phase 1 and 2 clinical studies sponsored by the U.S. National Cancer Institute.
VAL-083 has also received an orphan drug designation in Europe for the treatment of malignant gliomas and the U.S. FDA Office of Orphan Products has granted an orphan designation to VAL-083 for the treatment of glioma, medulloblastoma and ovarian cancer.