OncoVista Innovative Therapies Inc., Tuesday announced that the U.S Food and Drug Administration, or the FDA, has granted approval for the company's investigational new drug application for L-nucleoside conjugate drug candidate.
The biopharmaceutical company engaged in the development and commercialization of targeted cancer therapeutics stated that the L-nucleoside conjugate, or OVI-117, is a Thymidylate Synthase inhibitor with enhanced pharmacological properties resulting in the retention of efficacy and the reduction of toxicity. It has particular promise for colon, breast, gastric and prostate tumors.
"The FDA's swift approval of our IND provides validation of OncoVista's mission to be a leader in the development of more efficacious and less toxic targeted cancer therapies," said Alexander Weis, PhD., Chairman, President and CEO of OncoVista.
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