Norwegian cancer drug goes global
June 12, 2012
Oslo Cancer Cluster member Algeta recently had the opportunity to present updated results of the medication Alpharadin (radium-223 dichloride) at ASCO cancer seminars. Presenting data at ASCO is not an everyday event for a Norwegian pharmaceutical company.
"This is huge," says Jónas Einarsson, Acting Director of Oslo Cancer Cluster. "The annual conference of the American Society of Clinical Oncology (ASCO) is one of the most important forums in cancer research, and it is closely followed by analysts and the global media. Presenting research at ASCO is a unique opportunity to speak to leading specialists and communities within cancer research and treatment." Einarsson has followed Algeta for a long time and says that the expectations for the company and the cancer drug Alpharadin are high:
"Algeta’s development is very exciting for us in the Norwegian cancer research community. The fact that they have presented data at ASCO is a confirmation that we may be about to achieve something great in Norwegian cancer research.”
The updated phase III trial data confirms that the Norwegian drug improves overall survival by 44 percent in advanced prostate cancer that has spread to the bone. The analysis was presented at ASCO sessions where specially invited participants could share important news and advances.
Algeta is a company focused on developing novel targeted therapies for patients with cancer based on its alpha-pharmaceutical platform. Algeta's lead product Alpharadin (radium-223 chloride) is being evaluated as a potential new treatment for cancer patients with bone metastases. Alpharadin is under clinical investigation in castration-resistant prostate cancer (CRPC) patients with bone metastases.
Alpharadin is partnered with Bayer Schering Pharma AG, a major pharmaceutical company, and is in a global phase III clinical trial (ALSYMPCA) to treat bone metastases resulting from prostate cancer. Alpharadin is being evaluated and will be commercialised, if approved, under a global agreement with Bayer Pharma AG.
The company is headquartered in Oslo, Norway, and is listed on the Oslo Stock Exchange (Ticker: ALGETA).