Novogen Ltd. terminated further development of its preclinical stage cancer drug ATM-3507, or Anisina.
The company made the decision on the basis of a review of the internal scientific committee of the board, which concluded that the balance of available preclinical data did not support a transition into clinical trials, and that the future commercial potential of the asset was likely to be low.
The company also cited safety concerns, based on toxicity levels observed, along with potential regulatory and commercial barriers, as factors.
Further, under the terms of a license deal with Genscreen Pty Ltd, the intellectual property associated with Anisina will go back to Genscreen.
The program's termination will lead to a cut in headcount and the reallocation of employees to new responsibilities, the Australian biotechnology company said in a news release.
Novogen will focus on two clinical-stage programs, GDC-0084 in glioblastoma multiforme and TRXE-002-01 in ovarian cancer, which are "entirely independent of Anisina in scientific terms," CEO James Garner said.