Dallas, Texas 06/26/2015 (Financialstrend) – Actinium Pharmaceuticals Inc (NYSEMKT:ATNM) has filed a provisional patent application for infusion administration of Iomab-B. The company’s CEO and President, Kaushik Dave, expects the provisional patent application to secure the company’s leadership position in the highly specialized field. The issuance of the patent adds to an intellectual property portfolio made of 39 issued and pending patents
Ongoing Clinical Trials
Iomab-B on successive trials should enable hematopoietic stem cell transplantation commonly referred to as bone marrow transplant. It is currently in pivotal Phase 3 clinical study. Actinium Pharmaceuticals Inc (NYSEMKT:ATNM)’s second product Actimab-A is also under development in a phase 1/2 trial for AML patients above the age of 60.
The World health organization reports that over 14 million new cases of cancer are usually reported yearly. The fastest growing treatment for this cases in the US has turned out to be Hematopoietic Stem Cell Transplantation that Actinium Pharmaceuticals Inc (NYSEMKT:ATNM) is also developing.
Raising Cash for Clinical Trials
Separately the company recently closed an offering of $5 million for its common stock. During the offering, Actinium Pharmaceuticals Inc (NYSEMKT:ATNM) issued a total of 1,923,078 shares for a purchase price of $2.60 a share. Net proceeds from the offering are to be used for general corporate purposes including capital expenditure.
Funds from the offerings are also to be used to finance ongoing clinical trials for Iomab-B and Actimab-An, all in preclinical trials. The funds should be enough to support licensing activities as well as meeting capital needs.
Actinium Pharmaceuticals Inc (NYSEMKT:ATNM)’s Actimab-A is the most advanced alpha particle immunotherapy currently available. It is being developed as a first-line therapy having already attracted support from some of the leading experts in the world of cancer treatment.
It’s safety and efficacy levels are believed to be one of the best in the field. Actimab-A consists of a monoclonal antibody and Actinium-225 that usually decays producing high-energy alpha particles that kill cancer cells.