Plus Therapeutics Awarded $17.6M From State Of Texas For Continued Development Of Co.'s Lead Investigational Targeted Radiotherapeutic Rhenium-186 NanoLiposome For Treatment Of Patients With Leptomeningeal Metastases
5:49 pm ET August 17, 2022 (Benzinga) Print
Funding from the Cancer Prevention and Research Institute of Texas (CPRIT), the second largest global public funder of cancer research, will support the majority of the development costs of 186RNL for leptomeningeal metastases.
Plus Therapeutics, Inc. (Nasdaq: PSTV) (the "Company"), a clinical-stage pharmaceutical company developing innovative, targeted radiotherapeutics for rare and difficult-to-treat cancers, today announced that it was awarded a $17.6 million Product Development Research grant by the Cancer Prevention and Research Institute of Texas (CPRIT) to fund the continued development of the Company's lead investigational targeted radiotherapeutic, Rhenium-186 NanoLiposome (186RNL), for the treatment of patients with leptomeningeal metastases (LM).
"The Plus team is honored to receive this significant and esteemed award from CPRIT," said Marc H. Hedrick M.D., President and Chief Executive Officer of Plus Therapeutics. "We expect that the non-dilutive funding from CPRIT will come on-line next month once the award agreement is finalized and this will significantly offset our longer-term, three-year capital requirements for the advancement of our LM program."
In the second quarter of 2022, the Company completed enrollment of Cohort 1 in the ReSPECT-LM Phase 1/2a dose escalation trial (NCT05034497). 186RNL was delivered without dose limiting toxicities in this initial cohort, and the independent Data and Safety Monitoring Board has approved the plan to move ahead with Cohort 2.
"LM is one of the most devastating and aggressive late-stage cancer complications, in which the primary cancer spreads to the central nervous system. The most common solid tumor giving rise to LM is breast cancer and LM affects 3% to 5% of women already suffering with breast cancer," stated Jamil Rivers, President of METAvivor Research and Support, Inc. "The continued investment in clinical research and development for metastatic breast cancer, including leptomeningeal
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