Pro-Pharmaceuticals announces FDA meeting

Pro-Pharmaceuticals Inc. of Newton announced today that a pre-New Drug Application meeting with the US Food and Drug Administration is scheduled for December 22nd to discuss Davanat.

Davanat, a company drug candidate, is designed for use as a component in chemotherapy treatments for cancers such as advanced colorectal cancer.

"Our goal is to commercialize Davanat and to generate revenue in 2009," Theodore Zucconi, president of Pro-Pharmaceuticals, said in a statement. "In pre-clinical and clinical studies, Davanat has improved efficacy and reduced toxicity of chemotherapies and biologics. We also are working on potential licensing agreements and have regional agreements in place to market Davanat internationally."

Pro-Pharmaceuticals, which had previously warned that it could run out of cash this month, said on Sept. 18 that it will reallocate resources in order to extend the company's cash runway and fund operations into December.
(By Chris Reidy, Globe staff)