Medlab Clinical successfully raised $15 million via a two-tranche placement. The money will go towards funding a pivotal Phase III clinical trial in Australia, the USA and the UK to investigate the efficacy of Medlab’s non-opioid analgesic drug candidate delivered via NanoCelle® for the treatment of cancer-induced bone pain (bone metastases). NanoCelle® is Medlab’s proprietary drug delivery platform (submicron particle technology).
Medlab has also enhanced its board capability with the appointment of Mrs Cheryl Maley as an Independent Non-Executive Director of the company, effective 19 March 2021. Mrs Maley is currently a Managing Director of Oncology for global healthcare company Novartis (Australia and New Zealand), with over 20 years in roles across Sales, Marketing, Business Development, Commercial Excellence, Patient Access and General Management.
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