VANCOUVER, British Columbia and
MENLO PARK, Calif., July 10, 2019 /PRNewswire/ -- DelMar
Pharmaceuticals, Inc. (NASDAQ: DMPI) ("DelMar" or the
"Company"), a biopharmaceutical company focused on the development
of novel cancer therapies, announced today that it has initiated
the process of relocating the Company's headquarters from
Vancouver, British Columbia to
San Diego, CA. The move is
intended to optimally position DelMar to expand its corporate
development, and its operational and scientific teams as the
Company prepares for its next phase of growth.
"We believe now is the appropriate time to relocate our
headquarters to an internationally recognized center of excellence
for biotechnology as VAL-083's multiple Phase 2 clinical trials for
recurrent, adjuvant, and first-line GBM patients advance to the
latter stages of development, and we explore other solid tumor
oncology indications for our first-in-class, small molecule,
chemotherapeutic," commented Saiid
Zarrabian, DelMar's Chief Executive Officer.
The transition to San Diego,
which is expected to occur by September 30,
2019, will not impact the Company's clinical operations
which are based in Menlo Park, CA.
About VAL-083
VAL-083 (dianhydrogalactitol) is a "first-in-class",
bifunctional DNA-targeting agent that introduces inter-strand DNA
cross-links at the N7-position of guanine leading to DNA
double-strand breaks and cancer cell death. VAL-083 has
demonstrated clinical activity against a range of cancers including
GBM and ovarian cancer in historical clinical trials sponsored by
the U.S. National Cancer Institute (NCI). DelMar has demonstrated
that VAL-083's anti-tumor activity is unaffected by common
mechanisms of chemoresistance, including MGMT, in cancer cell
models and animal studies. Further details regarding these
studies can be found at:
http://www.delmarpharma.com/scientific-publications.html.
VAL-083 has been granted orphan drug designations by the U.S.
FDA Office of Orphan Products for the treatment of glioma,
medulloblastoma and ovarian cancer, and in Europe for the treatment of malignant gliomas.
VAL-083 has been granted fast-track status for the treatment of
recurrent GBM by the U.S. FDA.
About DelMar Pharmaceuticals, Inc.
DelMar is focused on the development and commercialization of
new therapies for cancer patients who have limited, or no,
treatment options. By focusing on understanding tumor biology
and mechanisms of treatment resistance, the Company identifies
biomarkers to personalize new therapies in indications where
patients are failing, or are unable to tolerate, standard-of-care
treatments.
The Company's current pipeline is based around VAL-083, a
"first-in-class", small-molecule chemotherapeutic with a novel
mechanism of action that has demonstrated clinical activity against
a range of cancers including central nervous system, ovarian and
other solid tumors (e.g. NSCLC, bladder cancer, head & neck) in
U.S. clinical trials sponsored by the NCI. Based on DelMar's
internal research programs, and these prior NCI-sponsored clinical
studies, the Company is conducting clinical trials to support the
development and commercialization of VAL-083 to solve significant
unmet medical needs.
VAL-083 is being studied in two collaborator-supported,
biomarker-driven, Phase 2 clinical trials for MGMT-unmethylated
GBM. Overcoming MGMT-mediated resistance represents a significant
unmet medical need in the treatment of GBM. In addition,
DelMar has announced the allowance of a separate IND for VAL-083 as
a potential treatment for platinum-resistant ovarian cancer.
Further information on DelMar's clinical trials can be found on
clinicaltrials.gov:
https://www.clinicaltrials.gov/ct2/results?cond=&term=val-083&cntry1=&state1=&recrs
For additional information, please visit
http://delmarpharma.com/; or contact DelMar Pharmaceuticals
Investor Relations: ir@delmarpharma.com / (604) 629-5989.
Connect with the Company on Twitter, LinkedIn, and Facebook.
Safe Harbor Statement
Any statements contained in this press release that do not
describe historical facts may constitute forward-looking statements
as that term is defined in the Private Securities Litigation Reform
Act of 1995. Any forward-looking statements contained herein are
based on current expectations but are subject to a number of risks
and uncertainties. The factors that could cause actual future
results to differ materially from current expectations include, but
are not limited to, risks and uncertainties relating to the
Company's ability to develop, market and sell products based on its
technology; the expected benefits and efficacy of the Company's
products and technology; the availability of substantial additional
funding for the Company to continue its operations and to conduct
research and development, clinical studies and future product
commercialization; and, the Company's business, research, product
development, regulatory approval, marketing and distribution plans
and strategies. These and other factors are identified and
described in more detail in the Company's filings with the SEC,
including, the Company's Annual Report on Form 10-K for the year
ended June 30, 2018, the Company's
Quarterly Reports on Form 10-Q, and the Company's Current Reports
on Form 8-K.
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SOURCE DelMar Pharmaceuticals, Inc.