By 2024, cancer drug sales are expected to almost double to US$236.6 Billion dollars. One of the fastest growing segments in oncology drugs will be the glioma (brain tumor) market.
Another industry report projected that the Global Glioma Diagnosis and Treatment market alone is expected to grow at a CAGR of approximately 10.1% during the forecast period, 2017-2023.
Active biotech and pharma companies in the markets this week include Moleculin Biotech, Inc. (NASDAQ MBRX), Arrowhead Pharmaceuticals, Inc. (NASDAQ ARWR), AbbVie Inc. (NYSE ABBV), Mallinckrodt plc (NYSE MNK), Nabriva Therapeutics plc (NASDAQ NBRV).
The report continued Brain tumors are one of the prominent causes of cancer among children and teenagers. Glioma is the most common type of brain tumor which accounts for approximately half of all the astrocytoma. The increasing occurrence of glioblastoma over the years is responsible for the growth of the glioma diagnosis and treatment market. The upcoming drug launches and developments in research are instrumental for the growth of the market. In addition, the current unmet need is expected to drive the gliomas industry over the forecast period. Changing financial demands and access to healthcare facilities are some of the factors that are constraining the market growth.
Moleculin Biotech, Inc. (NASDAQMBRX) BREAKING NEWS Moleculin Biotech, a clinical stage pharmaceutical company with a broad portfolio of drug candidates targeting highly resistant tumors, today announced approval by the Emory University Clinical Trial Review Committee (CTRC) to move forward with an Investigator Initiated clinical trial of Moleculin's immune-stimulating/transcriptional-modulator, WP1066, for the treatment of pediatric brain tumors. The trial will take place at the Aflac Cancer and Blood Disorders Center at Children's Healthcare of Atlanta.
Continued progress with the MD Anderson clinical trial of WP1066 in brain tumors has now cleared the way for a pediatric brain tumor trial with investigators from Emory University School of Medicine, commented Walter Klemp, Moleculin's Chairman and CEO. With CTRC approval, the investigators can now submit a request for IND from the FDA for this indication referencing the MD Anderson IND already in place. Consistent with one of our stated development milestones, we continue to expect this IND to be submitted before year end.
Dr. Tobey MacDonald, Professor of the Department of Pediatrics at Emory University School of Medicine, Director of Pediatric Neuro-Oncology at Aflac Cancer and Blood Disorders Center and Principle Investigator for this clinical trial commented We've done a lot of preclinical research suggesting that WP1066 may be beneficial in treating pediatric brain tumors, including medulloblastoma, where there continues to be a critical unmet need for more effective therapies. We are excited to finally get this trial moving. Read this and more news for MBRX at https//www.financialnewsmedia.com/news-mbrx/