Artelo Biosciences Shares Rise 8% on Acceptance Into U.K Oncology Program

By Chris Wack

Artelo Biosciences Inc. shares rose 8% to $2.11 after the company said it has been accepted into the first round of the Alderley Park Oncology Development Program, a U.K. national program designed to offer advice, guidance, and financial support to develop and progress innovative oncology projects.

The biopharmaceutical company said the program is funded by Innovate UK and Cancer Research UK and supported by major oncology-focused pharmaceutical companies including AstraZeneca, Johnson & Johnson, GlaxoSmithKline and Roche.

Artelo's application is focused on developing a pathway to a validated FABP5 biomarker.

The company said this acceptance could bring additional funding to its overall FABP5 inhibitor program, which has separately received nearly $8 million in support from the U.S. government and can allow its scientists to collaborate with leading UK research institutes and leading oncology pharmaceutical companies to develop a personalized medicine strategy for ART26.12.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

March 19, 2021 10:34 ET (14:34 GMT)

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