Lorus Therapeutics Inc., a biopharmaceutical company specializing in the discovery and development of pharmaceutical products and technologies for the management of cancer, today announced the approval of the Investigational New Drug (IND) application for its anticancer drug candidate LOR-253 by the U.S. Food & Drug Administration (FDA).

Based on the approval of the IND by the FDA, Lorus plans to proceed with a first-in-man Phase I dose escalation trial with LOR-253 in advanced or metastatic solid tumors. The trial will assess the safety profile, tolerability, and antitumor activity of LOR-253 in cancer patients, as well as pharmacokinetic and pharmacodynamic properties of LOR-253. The Phase I trial will be conducted at Memorial Sloan-Kettering Cancer Center in New York, NY.