Noxopharm Ltd. (AU:NOX) has released an update.
Noxopharm Limited, an Australian biotech firm, has been awarded a $100,000 grant from Tour de Cure to further their research on a new brain cancer drug, matched with another $100,000 from the company itself. The promising preclinical work conducted with the University of South Australia focuses on a novel first-in-class glioblastoma drug developed from Noxopharm’s Chroma™ platform. This research could potentially offer new treatment options in a global market valued at US$2.5 billion, addressing the urgent need for effective therapies in a disease with limited current treatments and a high mortality rate.
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