Aura Biosciences, a portfolio company of venture capital firm Arix Bioscience (AIM:ARIX) unveiled on Monday new clinical data from its phase 1b/2 trial which is focused on eliminating early cancer cells in the eye.
The group believes that its product candidate, AU-011, has the potential to be the first targeted therapy for the primary treatment of ocular melanoma, the most common primary cancer of the eye.
The clinical-stage biopharmaceutical company presented the data from the ongoing clinical trial at the 43rd Annual Macula Society Meeting which took place last week in San Diego.
The phase 1b/2 data was recognised as continuously “well tolerated, with a statistically significant reduction in tumour growth rate and vision preservation.”
Cadmus Rich, CMO and Head of R&D at Aura Biosciences said that high tumour control rates alongside the high rate of vision preservation “continue to support AU-011’s significant potential to change the treatment paradigm for patients battling choroidal melanoma.”
Shares in Arix Bioscience were trading flat at 88.5p during Monday trading.
There currently exists a high unmet need for targeted therapies that could enable early treatment intervention for the life-threatening disease, the group highlighted.
The company added that the data is supportive of the planned Phase 3 registration trial which Aura expects to initiate during the second half of 2020.
AU-011 has been granted orphan drug and fast track designations by the U.S. Food and Drug Administration and is currently in clinical development.
Aura Biosciences is one of sixteen investee groups backed by Arix Bioscience which is focused on investing in and building breakthrough bioscience companies.
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