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Sermonix will launch the ELAINE-1 study at Exactis Innovation network sites across Canada to study the activity of its drug in ESR1-mutated breast cancer.
Adding Verzenio to hormone therapy reduced the risk of relapse by 25 percent, while the PALLAS study, testing another CDK4/6 inhibitor, failed.
The drug giant will be responsible for globally developing and commercializing the compound, called Erso, currently in preclinical development.
The funding will be used to advance the firm's lead drug candidate, OP-1250, into a Phase I/II trial of ER-positive, HER2-negative breast cancer.
The open-label, multi-center trial will start enrolling patients in the third quarter to evaluate the safety of lasofoxifene combined with abemaciclib.
A Phase I trial of the combination produced a higher response rate in fulvestrant-pretreated patients than capivasertib alone.
Such prognostic information could aid clinicians in making decisions about radiotherapy for postmenopausal women with breast cancer.
Meeting presentations supported tweaking the clinical interpretation of Genomic Health's Oncotype DX and bolstered Biotheranostics' Breast Cancer Index.