"Both breast and ovarian trials are funded by US government grants"
"Commercial risks minimised with GMP drug manufactured, IND active and clinical trial sites actively recruiting and dosing patients"
They have a close connection with the Lee Moffitt Cancer Center which have been involved with dosing patients with this drug they are acquiring so there may be more than what we are told.
As for toxicity most drug have this problem , you just have to find the right dosing level to stay under that toxic limit.
They are not overpaying for this , $300,000 cash and 134 million shares at 1c with a further 100m shares at 1c upon milestone clinical success.
They should have over $3m cash post acquisition representing 44% of their market value post acquisition at the current price. I have taken a small position based on their existing drug and their low valuation compared to their peers on the asx, any success from this acquisition is just a bonus.
GGTI-2418 is expected to enter Phase 1b/2 clinical trials in breast cancer and multiple myeloma in early 2015.
In addition, the company has granted a license to major French biotechnology company Transgene for access to its Co-X-Gene™ technology for use in two of Transgene’s immunotherapeutic products. These are TG4001 – a treatment for pathologies relating to human papilloma virus (HPV) infection that can lead to oropharyngeal (head and neck) cancer and TG4010 – a treatment for non-small cell lung cancer (NSCLC).
