Biotech firm Actis Biologics today said that Angiozyme, its biotech molecule targeted at colorectal cancer has entered into the third phase of trials on humans in India.
"The trials will be conducted among 150 patients in select centers in the country over a 18-month period," Actis Biologics Chairman and Chief Executive Officer Sanjeev Saxena said in a statement.
Phase-III clinical trials are conducted on a slightly larger number of patients after a molecule passes through Phase-I and II, which are done on small select samples.
"It is for the first time in the world that a biotech molecule based on anti-sense technology is entering the Phase- III trials," the company said.
The anti-sense technology prevents production of more blood vessels in a cancer zone.
The trials will cost around $50 million, the company said, adding it plans to conduct further trials in Malaysia, China, Latin America and the US.
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The estimated market size for Angiozyme globally is expected to be around $15 billion.
Due to manufacturing cost advantage, Angiozyme is likely to reduce cancer treatment cost to one-fifth of conventional costs, Active Biologics President PN Venugopalan said.
The molecule is being developed as a sub-dermal injectable, similar to insulin thereby making it convenient for the patients to administer it in their homes.
Colorectal cancer causes around 6,55,000 deaths world wide per year, the company said.