Race Oncology Reports $13.67M Cash, First Patient Dosed with RC220 Plus Doxorubicin
Race Oncology has safely treated the first patient with its RC220 drug alone and in combination with doxorubicin in a Phase 1 trial, while bolstering its clinical leadership and maintaining a strong cash position to fund operations through 2026.
- First patient treated safely with RC220 and RC220 plus doxorubicin in Phase 1 trial
- New appointments of Chief Medical Officer Dr Jose Iglesias and VP of Medical Dr Simon Fisher
- Cash reserves of $13.67 million at quarter end, supporting activities through 2026
- Termination of City of Hope license to reduce costs while retaining freedom to operate
- Ethics approvals secured to expand trial to two Hong Kong hospitals
Clinical Milestones Achieved
Race Oncology has marked a significant step forward in its clinical development program by successfully and safely treating the first patient with its reformulated bisantrene compound, RC220, both as a standalone therapy and in combination with the chemotherapy agent doxorubicin. These treatments occurred within the ongoing Phase 1 trial targeting patients with advanced solid tumors, a critical early-stage study designed to evaluate safety and dosing parameters.
The absence of adverse effects such as phlebitis and dose-limiting toxicities in these initial patients is encouraging, suggesting RC220’s potential as a cardioprotective agent that could mitigate the heart-related side effects commonly associated with anthracycline chemotherapy drugs like doxorubicin.
Leadership Renewal and Strategic Focus
In parallel with clinical progress, Race Oncology has strengthened its executive team by appointing Dr Jose Iglesias as Chief Medical Officer and Dr Simon Fisher as Vice President of Medical. Both bring extensive pharmaceutical and clinical development expertise, signaling Race’s commitment to advancing its pipeline with seasoned leadership at the helm.
These appointments come as the company also announced the termination of its global license agreement with City of Hope. This move, advised by legal and IP experts, aims to reduce future financial burdens while preserving Race’s freedom to operate and develop bisantrene across clinical and non-clinical applications, including epigenetic regulation of mRNA.
Financial Position and Expansion Plans
Race Oncology reported a robust cash position of $13.67 million at the end of June 2025, with over 83% of quarterly expenditure directed towards research, development, and drug manufacturing. This disciplined capital management strategy provides a runway to fund operations through calendar year 2026 without immediate need for additional capital raising.
Further expanding its clinical footprint, Race has secured human ethics approvals to conduct the Phase 1 RC220 trial at two prominent Hong Kong hospitals, Prince of Wales and Queen Mary. This geographic diversification may accelerate patient recruitment and broaden the trial’s data relevance.
Investor Engagement and Market Outlook
Race Oncology continues to engage actively with investors, highlighted by recent presentations and briefings in Australia. Shareholder support remains strong, evidenced by early option conversions during the quarter. The company’s focus on advancing RC220 as a dual cardioprotective and anticancer agent positions it well within the oncology sector, where unmet needs for safer chemotherapy regimens persist.
Looking ahead, Race’s upcoming presentation at the European Society of Medical Oncology conference in October 2025 will be a key event to watch for insights into the evolving clinical data and strategic direction.
Bottom Line?
With clinical milestones met and a strengthened leadership team, Race Oncology is poised to advance RC220’s development while maintaining financial discipline.
Questions in the middle?
- How will the expanded trial sites in Hong Kong impact patient recruitment and trial timelines?
- What are the long-term clinical efficacy expectations for RC220 in combination with doxorubicin?
- How will the termination of the City of Hope license affect Race’s commercial strategy and partnerships?
