Israeli drug development company VBL Therapeutics(Nasdaq:VBLT) today announced the failure of a Phase III clinical trial in patients with recurrent glioblastoma (brain tumor). The trial evaluated VB-111 in combination with bevacizumab (Avastin) compared with the bevacizumab control arm. The study did not meet its pre-specified primary endpoint of overall survival (OS).
VBL Therapeutics CEO Dror Harats said, "We are disappointed that our encouraging Phase II data were not replicated in the GLOBE Phase III study, and once we receive the full and final data we will be analyzing them carefully to better understand the outcome of the study."
He added, "We believe that VB-111 may still hold promise for other indications we currently or may study in the future.”
VBL Therapeutics recently signed a commercialization agreement in Japan with NanoCarrier for this drug. The agreement could have reached $100 million and included an advance of $15 million.
The share price is down 63.24% in premarket trading on Nasdaq.
Published by Globes [online], Israel business news - www.globes-online.com - on March 8, 2018
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