Faron Pharmaceuticals Ltd on Monday said results from a probe of a cancer drug were promising.

Faron shares were up 10% at 364.00 pence each in London on Monday around midday.

The Turku, Finland-based drug development company presented phase 1 findings from the Bexmab probe ahead of an industry event. The research is focused on the company’s bexmarilimab drug, which is designed to treat patients with aggressive myeloid leukaemias.

According to Faron, every patient in two key groups responded positively to the treatment. The groups included those with severe forms of blood cancer, as well as those for whom previous treatments had failed.

Faron’s Chief Executive Offer Markku Jalkanen also said that the results ‘continue to improve over time’ courtesy of the drug’s ability to generate ‘strong and durable leukaemic blast eradication and immune responses’.

Jalkanen added: ‘With this compelling evidence we are well positioned to advance to the phase 2 part of the Bexmab study.’

Copyright 2023 Alliance News Ltd. All Rights Reserved.