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ESSA Pharma receives $1.2M payment from CPRIT for EPI-506 development costs

Apr. 05, 2017 10:30 AM ETESSA Pharma Inc. (EPIX) Stock, EPI:CA StockBy: Douglas W. House, SA News Editor
  • As part of the $12M grant awarded in July 2014, ESSA Pharma (NASDAQ:EPIX) receives $1.2M from the Cancer Prevention Research Institute of Texas (CPRIT) for costs associated with the ongoing Phase 1 dose escalation study of prostate cancer candidate EPI-506 and preparations for the Phase 2 dose expansion trial expected to start later this year. It is eligible to receive an additional ~$229K after completing certain filings with CPRIT.
  • EPI-506 targets a specific part of the androgen receptor (AR) called the N-terminal domain. The company says this novel target enables EPI-506 to overcome AR's resistance mechanisms.
  • Previously: ESSA Pharma receives $4M under grant from Texas cancer research organization (Jan. 30)

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