Formula to raise financing for leukemia vaccine Phase II trials

The leukemia vaccine will be used during first remission for acute myeloid leukemia and other aggressive cancers.

Earlier Phase I study showed a survival benefit of 54 months when the vaccine was added to the standard of care, reports medcitynews.com.

Formula co-founder Giorgio Mosconi said if approved, the vaccine would be the first on the market to keep Acute Myeloid Leukemia in remission.

"We believe we are approaching cancer treatment in a new way," Mosconi added.

Formula Pharmaceuticals develops vaccines for elderly acute lymphocrytic leukemia, mesothelioma and ovarian cancer.