Cyclacel Receives $1.9M Grant
Cyclacel Pharmaceuticals (NASDAQ: CYCC) (NASDAQ: CYCCP announced today the award of a grant of approximately £1.2 ($1.9) million from the UK Government's Biomedical Catalyst to complete IND-directed preclinical development of CYC065, its novel, orally available, second generation, cyclin-dependent kinase (CDK) inhibitor.
"For over a decade Cyclacel has been a leader in the study of cell cycle biology and the identification of novel anticancer drugs that exploit mechanisms of cell cycle control" said Spiro Rombotis, Cyclacel's President & Chief Executive Officer. "The Biomedical Catalyst award recognizes the scientific excellence of our Company's researchers. The grant will allow us to explore CYC065's promising anticancer activity in a translational biology program targeting specific leukemia and other cancer disease pathways with the ultimate goal of filing for regulatory approval to begin clinical trials. If successful, the program will provide the basis for stratified clinical development of CYC065 or treating patients with cancers that match the genetic mechanism targeted by the drug. CYC065 is