Drug developer PharmAust has won a European patent for its core drug monepantel for use as a cancer therapy until 2033.

PharmAust is testing the drug as a cancer treatment for both humans and dogs.

In May, the company said its Phase II dog lymphoma trial showed that monepantel either stabilised or reduced tumours in three out of four dogs.

Indeed, this was also “consistent with outcomes observed in a recent Phase I human trial”.

“The current trial uses MPL as first-line therapy in dogs diagnosed with lymphoma,” principal investigator Dr Angela Frimberger said at the time.

“Measurements ranged from 2-19% reduction in tumour volume with an average of 11% being achieved across all three dogs.”

Monepantel is owned by animal pharmaceuticals maker Elanco and is used as a de-worming treatment.

PharmAust is interested in the aminoacetonitrile derivatives within monepantel, which it says is a “potent kinase inhibitor” for cancer treatment.

PharmAust CEO Dr Richard Hopkins says they already have patents over the drug as a cancer therapy in the US, Australia and China.

The company is still talking to Elanco about licensing options.

PharmAust shares were up 1.69 per cent at midday to 6c, trading at the bottom end of its 52-week range of 5c-9c.. The company has a market value of $9.4 million.