An already-approved drug used to treat excess facial hair and sleeping sickness may have an important new purpose: Treating brain cancer.
Palo Alto-based Orbus Therapeutics will be kicking off Phase 3 trials to study the effect of FDA-approved eflornithine on a rare form of brain cancer. It just raised an impressive new $32.5 million Series A to conduct the trials.
Funding for this round comes from Longitude Capital, H.I.G. BioVentures and Adam Street Partners. Notably, Dr. Ernest Mario, former deputy chairman of Glaxo Holdings and chairman and CEO of ALZA Corp., participated in the round as well.
Orbus has found that eflornithine can improve survival rates among patients with newly diagnosed or recurrent anaplastic astrocytoma – a rare and malignant form of brain cancer. It works, ostensibly, by slowing down the rapid division of cancer cells. It received breakthrough therapy designation from the FDA last year. About 3,600 patients are diagnosed with this rare form of brain cancer each year – and have a median survival rate of just three years.
The small molecule drug’s actually currently approved for two indications. It treats African trypanosomiasis, or sleeping sickness, with an oral formulation marketed by Sanofi under trade name Ornidyl. Topically, it can treat hirsutism. Since it’s already got the FDA stamp of approval, the drug’s been sped through the regulatory process and is able to conduct Phase 3 trials with its first round of financing.
[IMAGE: Flickr user Liz Henry]
