LONDON (AFX) - Antisoma PLC announced that R1549, its lead drug formerly known as Pemtumomab, has failed to meet its primary endpoint in a Phase III study in ovarian cancer.

The group, which specialises in the development of novel products for the treatment of cancer, said that the outcome for R1549-treated patients appeared no better than those of patients in the comparative arm of the SMART (Study of Monoclonal Antibody RadioimmunoTherapy) trial.

"Given these findings, it is unlikely that development of R1549 will continue," Antisoma said in a statement today.

The group is co-developing a number of drugs, including R1549, with Swiss pharmaceutical group Roche under the broad strategic alliance formed in November 2002.

"The outcome of this study will have no impact on our growth outlook and we remain committed to our long-term relationship with Antisoma, which is based upon multiple products," William Burns, Head of Roche's Pharmaceuticals Division said.

"Drug development is a high-risk endeavour and such results are not unexpected in the development of novel treatment modalities," he added.

etain.lavelle@afxnews.com

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Good news for employees

Carry on working past 65 as Default Retirement Age to be scrapped in 2011

If one has not made enough to retire at 55 they should be put in a home as wasters.