Sillajen to launch phase 1 clinical trial in U.S. for its licensed oncology drug

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bio firm-anti-cancer drug

Sillajen to launch phase 1 clinical trial in U.S. for its licensed oncology drug

SEOUL, Dec. 13 (Yonhap) -- South Korean bio firm Sillajen Inc. said Tuesday it is planning to take the first step in testing its licensed new oncology drug.

Three U.S. institutions --the OHSU Knight Cancer Institute, the Mary Crowley Cancer Research and the Montefiore Medical Center -- will carry out the phase 1 clinical trial for BAL0891 later this month, the company said.

Sillajen said it is also in talks with Korean hospitals to carry out clinical trials in South Korea.

BAL0891 is a potential first-in-class mitotic checkpoint inhibitor (MCI) that disrupts cell division and leads to tumor cell death.

Sillajen acquired a license for the drug from Switzerland-based Basilea Pharmaceutica International for US$14 million in September.

The company said it found BAL0891 more effective in disrupting cancer cells when taken by injection into a vein than taken by mouth in animal testing. It also demonstrated efficacy when administered with the anti-cancer therapy Paclitaxel, sold under the brand name Taxol.

"We are striving to become a big global pharmaceutical firm by expanding our research and development workforce, and focusing on clinical studies," Sillajen CEO Kim Jae-kyung said in a press conference. "We will do our best to improve our corporate value."

The trading of shares in Sillajen resumed on Oct. 13 after 2 1/2 years of suspension over its former executives being charged with embezzlement and breach of trust.

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