The Chinese Bureau of Foreign Experts has approved the application for a grant to Guangxi Wuzhou Pharmaceutical Company to support DelMar Pharmaceuticals' collaboration with Guangxi Wuzhou Pharmaceutical Company, a subsidiary of publicly traded Guangxi Wuzhou Zhongheng Group Co., Ltd.
In October 2012, DelMar and Guangxi Wuzhou Pharmaceuticals announced a collaboration for the development of VAL-083, known as "DAG for Injection" in China.
The collaboration between DelMar and Guangxi Wuzhou Pharmaceuticals includes development and an exclusive supply relationship of VAL-083 for the Chinese market and all markets outside China. Wuzhou Pharmaceuticals is the exclusive supplier of VAL-083 and DelMar Pharma is responsible for development and commercialization.
As part of the collaboration, DelMar Pharma and Guangxi Wuzhou Pharmaceuticals are working together to insure the product specifications meet global standards in order to accelerate international development and to enable Guangxi Wuzhou Pharmaceuticals to obtain certification as manufacturer of VAL-083 from international regulatory authorities including the US Food and Drug Administration. Funding from the grant, which will be paid by Chinese Bureau of Foreign Experts, will directly offset a portion of DelMar Pharma's expenditures related to the project.
Jeffrey Bacha, president & CEO of DelMar Pharma said, "We are pleased to have the financial support and recognition of this important collaboration."
VAL-083 represents a 'first-in-class' small-molecule chemotherapeutic. VAL-083 has been assessed in multiple NCI-sponsored clinical studies in various cancers including lung, brain, cervical, ovarian tumours and leukaemia. Published pre-clinical and clinical data suggest that VAL-083 may be active against a range of tumour types.
VAL-083 is approved as a cancer chemotherapeutic in China for the treatment of chronic myelogenous leukaemia and lung cancer. In addition, DelMar is conducting a phase I/II clinical trial to assess the safety and efficacy of VAL-083 in refractory glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.
Guangxi Wuzhou Pharmaceutical (Group) Co. is principally engaged in the manufacture of pharmaceuticals. The Company's main products include cardiovascular drugs, medicine for bruises, and gynaecology medication, among others.
DelMar Pharmaceuticals develops and commercialise proven cancer therapies in new orphan drug indications where patients are failing modern targeted or biologic treatments.