29 January 2020 | News
Noxopharm has developed a well-reasoned commercial strategy - the successful launch of Veyonda® into the market
image credit: Dolatest
Headquartered in Australia, Noxopharm Limited (ASX: NOX) is a clinical-stage drug development company that has been in the limelight for its potential industry disruptive and revolutionary cancer therapy in late-stage prostate cancer where no life-extending therapies currently exist.
With around 14 million new cases of cancer diagnosed worldwide each year, approximately 7 million patients are believed to possibly receive benefits from radiotherapy. Noxopharm is targeting this potential market opportunity with an objective to bring onboard its first-to-market, versatile, well-tolerated, effective enhancer of radiotherapy - Veyonda® which aims to restore the ability of the body’s immune system to fight and eradicate cancer.
Noxopharm has developed a well-reasoned commercial strategy - the successful launch of Veyonda® into the market if possible, in the safest, quick and least expensive way, eyeing global level collaborations and research-oriented programs.
Noxopharm has the vision to become a major drug discovery and drug development company, strongly underpinned by the encouraging outcomes from its DARRT-1 and LuPIN trials, primarily focused on prostate cancer. Noxopharm is further pushing the boundaries to explore cancer via strategically planned new studies that are in the research and development pipeline, including a potential brain cancer treatment drug program and an early cancer stem cell drug program.
Noxopharm marked its 3rd Anniversary on the ASX (Australian Securities Exchange) in 2019. It is all set to step onto the international stage with its DARRT-2 trial in planning, presenting its clinical data at various conferences, while proactively engaging with U.S based clinicians for study development.
Noxopharm also initiated its engagement with the US FDA through the IND process, which is a regulatory requirement to carry out clinical studies in the US. Moreover, the Company has lodged 6 patent families around Veyonda® and has received funding in excess of $A30 million through capital raising programs over the past three and a half years since its public listing.
Noxopharm’s clinical and scientific teams, executive management and Board of Directors have been the backbone to its success so far. The Company has established a strong alliance with prominent experts in the prostate cancer field from both Australia and U.S., providing expert guidance on the clinical development of Veyonda® and the prospects to further build on these vital relationships and potential collaborations along the way to market approval.