(RTTNews) - Basilea Pharmaceutica Ltd. (BPMUF.PK) announced the FDA has approved the company's Investigational New Drug application for the kinase inhibitor BAL0891. This allows the company to initiate the phase 1 clinical study in the first quarter of 2022. The IND approval triggers a milestone payment of 1.85 million Swiss francs to NTRC, from which Basilea in-licensed BAL0891.
Laurenz Kellenberger, Chief Scientific Officer of Basilea, said: "The drug candidate offers the potential for a targeted development strategy in multiple cancers. We are looking forward to adding this potential first-in-class mitotic checkpoint inhibitor to our clinical oncology pipeline."
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