Phio Pharmaceuticals Corp (NASDAQ:PHIO) announced it has entered into a drug substance development services agreement with a U.S. manufacturer for its lead compound PH-762.
The agreement covers analytical and process development as well as cGMP manufacturing of PH-762, representing a critical advancement for Phio’s intratumoral program targeting cutaneous carcinomas. The clinical-stage siRNA biopharmaceutical company is currently enrolling patients for the fifth and expected final cohort in its Phase 1b dose escalation study for cutaneous squamous cell carcinoma, Merkel cell carcinoma, and melanoma.
"We are delighted to be partnering with an organization known for its quality and expertise in oligonucleotide chemistry sequencing," said Mr. Bitterman, Phio’s President and CEO. "Additionally, we value the strategic advantages to our management team of working with a U.S. based organization."
Phio Pharmaceuticals specializes in developing therapeutics using its proprietary INTASYL® gene silencing technology, which aims to eliminate cancer. The manufacturing agreement marks an important milestone as the company progresses its clinical development pipeline.
The company did not disclose the name of the U.S. manufacturer or financial terms of the agreement in its announcement.
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