ASX Health Stocks: Invion surges 17pc after saying its lead drug can kill anal cancer

Invion’s lead drug is found to be effective against anal cancer
Althea launches new cannabis products

Invion (ASX:IVX) surged 17% this morning after telling the market that its lead drug INV043 is effective against anal cancer.

A vitro study conducted at Peter Mac showed INV043’s effectiveness against six squamous cell carcinoma (SCC) cell lines that represent the full range of anal cancers.

The results are consistent with the promising outcomes achieved by the drug at the Hudson Institute of Medical Research on other cancer types, including triple negative breast cancer.

The global anal cancer market is forecast to grow at a compound annual growth rate (CAGR) of 6.3%, and is set to hit US$1.25 billion by 2028.

Anal cancers are particularly difficult to treat and most are SCCs that line the surface of the anal canal.

“Investigating INV043 therapy for anal SCC is our immediate focus,” said Professor Robert Ramsay, Group Leader at Peter Mac.

“SCC cell lines from the full range of anal cancers, from primary to metastatic and molecular subtypes, all respond to the killing action of INV043,” said Prof Ramsay.

Preclinical testing using topical delivery of INV043 has now started as a prelude to moving to clinical testing.

INV043 meanwhile is Invion’s lead drug candidate, and represents the next generation of photodynamic therapy that aims to treat multiple types of cancers.

Invion share price today:

Althea launches two new cannabis products

Cannabis company Althea Group (ASX:AGH) has launched the next generation of its products in various markets.

The company will launch Althea CBD25, the first Althea product to be offered in the patient-friendly soft gel capsule format.

Althea expects that these innovative soft gel capsules will substantially increase new patient uptake by providing a gold-standard pharmaceutical preparation.

The Althea CBD25 soft gel capsules are also a candidate for the TGA’s Schedule 3 (Pharmacist Only Medicine) entry for eligible CBD products.

“The development and release of our new soft gel capsule range confirms Althea’s position as a market leader and product innovator in the global medical cannabis industry,” said AGH CEO, Joshua Fegan.

Althea will also launch Althea THC25, one of the highest-concentrated THC dried flower products available in the market.

“The growth of the flower segment in Australia has been significant over the previous 12 months, and as the undisputed market leader in cannabis extracts, it is strategically important for Althea to have strong market share in the flower category as well,” Fegan added.