Biodexa shares rally 126% on rapamycin licensing deal

seekingalpha04-26

Shares of Biodexa (NASDAQ:BDRX) soared 126% in early trading Friday after the company announced it had entered into an exclusive worldwide license to develop and commercialize eRapa, also known as ...

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Biodexa licensed the rights from Rapamycin Holdings, which is doing business as Emtora Biosciences. The rights come with $17M in non-dilutive funding for a pivotal Phase 3 study of the drug in the treatment of Familial Adenomatous Polyposis, or FAP, a genetic orphan disease that can cause precancerous polyps that require surgical removal of the colon or rectum. The company added that the $17M grant for the Phase 3 study is from the Cancer Prevention and Research Institute of Texas.  ERapa is a proprietary oral formulation of the drug rapamycin, also known as sirolimus. Rapamycin is also sold under the brand name Rapamune for the prevention of organ transplant rejection.  The license also includes a $3M grant from the National Cancer Institute for a Phase 2 study of the drug in the treatment of non-muscle invasive bladder cancer, according to the company. Biodexa said Phase 2 results for the drug in the treatment of FAP will be presented at two medical conferences in Q2 2024. A data readout from the Phase 2 study in bladder cancer is expected in Q2 2025.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2430520899"}