DelMar enters into partnership with Accurexa

DelMar Pharmaceuticals Inc. recently partnered with Accurexa Inc. for the development of a novel formulation that will treat brain cancer and other solid tumors.

The formulation will be local delivery and contain a combination of chemotherapy.

"Working together with Accurexa will allow DelMar to explore a promising new product opportunity that is complementary to our existing portfolio of systemic drug development programs established around VAL-083 without significant cash outlay or impact on our near-term cash burn rate," DelMar Pharmaceuticals Chairman and CEO Jeffrey Bacha said. "This research collaboration will take advantage of our knowledge regarding the unique cytotoxic mechanism of VAL-083 to deliver combination chemotherapy directly to patients' cancer. Combining drugs with distinct mechanisms for local delivery provides an opportunity to overcome chemoresistance while minimizing potential systemic toxicity."

Under the agreement made by the two companies, DelMar will provide VAL-083 (dianhydrogalactitol) to Accurexa so it can be formulated within its proprietary ACX-31 implantable polymer wafer. VAL-083 will then be delivered locally as part of a combination with temozolomide and BCNU to treat brain cancer. The collaboration agreement also states that DelMar will have exclusive license and commercialization options for all product candidates.