UPDATE 1-Antisoma abandons Phase II breast cancer drug

Fri Aug 7, 2009 2:23am EDT

* AS1402 efficacy disappoints, no safety issues

* No plans for further studies of AS1402

(Adds details, background)

LONDON, Aug 7 (Reuters) - British biotech company Antisoma ASM.L has discontinued development of AS1402, a breast cancer drug in second-stage clinical trials as it is unlikely to prove effective, the company said on Friday.

A Phase II trial of the medicine in breast cancer is being scrapped because data suggest it is "very unlikely to give sufficiently positive efficacy findings", the firm said.

No safety concerns were identified.

"While AS1402 was an early stage product and therefore not an important contributor to our overall value, we are of course disappointed that the drug was not able to provide benefit to breast cancer patients," said Chief Executive Glyn Edwards.

Antisoma has no plans for further studies of the drug. (Reporting by Ben Hirschler; Editing by Greg Mahlich)