Actinium Pharmaceuticals
specializes in the development of cancer drugs based on the company’s patented
technology co-developed with Memorial Sloan Kettering Cancer Center (MSKCC).
Aside from product candidate Iomab-B, the company’s business strategy is to
develop its products through phase 2 clinical trials and then partner with a
third party for completion of development and commercialization.
Iomab-B is Actinium’s lead
product candidate developed for patients age 55 or older who suffer from Acute
Myeloid Leukemia (AML), one of the deadliest of blood cancers for which there
are no approved drugs. Most patients die within six months of diagnosis, though
for the few that buck the statistic, a bone marrow transplant offers a chance
at being cured. However, even this is a risky procedure for these patients and
most do not survive beyond six months. Iomab-B has shown in many cancers during
several phase 1 and 2 trials with more than 300 patients that its use can
meaningfully increase survival of bone marrow transplant patients. Actimab has
chosen to initially develop Iomab-B for AML because it is the fastest path to
market.
The company recently closed
on approximately $6.6 million in a private placement, the proceeds of which
will be used primarily for further development of Iomab™-B’s phase 3 clinical
trial, as well as for Actimab-A for first line treatment of AML. Actimab-A is
currently in a phase 1/2 trial. The company estimates that it will take
approximately three to six months to complete the phase I portion of the trial
and an additional one to one-half years to complete the phase 2 portion of the
trial.
Aside from a strong clinical
portfolio, Actinium’s market potential is strengthened by the fact that its
highly patented platform technology could be used to target a wide variety of
cancers. Preclinical and clinical work has already focused on Non-Hodgkin
Lymphoma (NHL), brain cancer, bladder cancer, ovarian cancer, breast cancer,
prostate cancer, and a number of other cancer related indications.
For more information, visit
www.actiniumpharmaceuticals.com
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