Italy's MolMed close to announcing cancer drug results

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Italy's MolMed close to announcing cancer drug results

Italy's MolMed is close to presenting results from Phase III clinical trials of a new cancer treatment that could represent a turning point for the biotech company, its founder said on Wednesday. The Milan-based company has developed the NGR-hTNF molecule to treat mesothelioma, a cancer caused by asbestos, and expects to announce results of the trials by the end of June, Claudio Bordignon told Reuters. "There is no competitor, there is no drug for the cure of mesothelioma," Bordignon said, adding that MolMed is likely to seek a partner to produce and market the product. In a note broker Jefferies said it believed NGR to be an attractive asset that could attract partners to fund further development.

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