Businessman and scientist Dr Henry Lowe, who has a series of cancer drugs in various stages of development under different partnerships, announced his second deal to conduct clinical trials in as many months.
The latest will see Educational and Scientific LLC, ESL, conduct stage three clinical trials covering some 1,000 persons across several countries to test a drug called Galeterone, which was developed by the University of Maryland along with a private entity formerly called Tokai Pharmaceuticals, for treatment of prostate cancer. ESL is a Baltimore, Maryland-based commercial venture established by Lowe to conduct research and development of medicines.
The trials, being done in collaboration with the University of Maryland-Baltimore (UMB) should run for 24 months starting in early 2019, while the cost could range anywhere from US$10 million to US$100 million, depending on the locations and parameters for the study, said Lowe, who is currently in the United States.
“We are closer to the lower end of that range,” he said on Tuesday.