Threshold Pharmaceuticals Inc.'s experimental drug has achieved good results in phase 2b clinical trials. The drug is referred to as TH-302.
"We are again very encouraged that TH-302 is conferring benefit to patients with aggressive and difficult to treat cancers," Chief Executive Barry Selick said.
The company is working with German based pharmaceutical company i.e. Merck KGaA in developing the drug.
TH-302 is used to target hypoxic conditions of the cells which are usually common in solid tumors.