The trading halt on shares of Lorus Therapeutics (TSX:LOR) was lifted this morning after the company announced it will partner with Cancer Research U.K.’s Drug Development Office.
The pair will take IL-17E, a treatment with the potential to treat tumours, into its first clinical trial.
Lorus CEO, Dr Aiping Young, said the partnership validates the potential of IL-17E and give the company a pathway for other treatments in its roster.
“At Lorus our primary focus is to discover and develop novel therapies to treat some of the most important and hard-to-treat cancers. IL-17E fits all the criteria to potentially qualify as a truly unique, first-in-class cytokine-based approach to treating a range of solid tumours. Cancer Research UK is world renowned for its cancer research and has done similar partnership deals through its CDP initiative with some of the world’s largest pharmaceutical companies. We believe this partnership with Cancer Research UK is not only a validation of our IL-17E technology, but it also offers Lorus an innovative avenue to develop this programme, and affords us the opportunity to progress as many of our programmes as possible into the clinic. We are excited about collaborating with Cancer Research UK and its important network of academic and clinical collaborators in the immunotherapy field and look forward to the outcome of some key studies in the next 24 months.”
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Toronto-based Lorus Therapeutics, which was founded in 1986, develops novel anticancer therapies. The company’s pipeline of treatments includes its lead anticancer drug candidate LOR-2040, and its anti-cancer drug LOR-253, which is in phase 1 clinical trial.
The Cancer Research UK Drug Development Office, which was founded in 1982 has brought five compounds to market and has nine others in are in late development phase III trials.
At press time, shares of Lorus Therapeutics were even at $.35 cents.