Axelar obtains financing for Phase I/II study of tumor drug

The insulin-like growth factor-1 (IGF-1) receptor is said to be a promising target for treatment of cancer, since the IGF-1 receptor is crucial for the survival and growth of cancer cells. In contrast, the IGF-1 receptor is not necessary for growth of normal cells.

AXL1717 is a targeted small-molecule IGF-1 receptor inhibitor with no effect on the important and almost identical insulin receptor. AXL1717 may therefore provide a new treatment option for patients with incurable cancer.

Pre-clinical data show an extraordinary anti-tumor efficacy, including tumor extermination, in animal models for a wide range of human cancers such as breast and prostate cancers, malignant melanoma, multiple myeloma, glioblastoma, and sarcoma. In addition, AXL1717 has shown a favorable preclinical tolerability profile and the medication is given orally.

Johan Harmenberg, CEO of Axelar, said: “I am very pleased that we have received the funding that allows us to start a clinical trial with AXL1717 in cancer patients. Targeting cancer cells with AXL1717 instead of conventional cytotoxic chemotherapy is a new and exciting treatment alternative.”