Patrys moves forward with ARC grant

University of Melbourne researchers have received a $300,000 grant by the Australian Research Council to further work on Patrys's human antibody cancer treatment, PAT-SM6.

The grant was awarded to Associate Professor Geoff Howlett, Dr Terry Mulhern and Dr Danny Hatters, all located at the Bio21 Institute in Parkville.

PAT-SM6 is a natural human antibody that is being used to target solid tumours and metastases in a range of cancers, including melanoma, pancreatic cancer and gastric cancer.

It has already undergone preclinical trials in animal models where it showed it could reduce the number of tumours that spread from colon to the liver.

The first human trials are scheduled to take place in this calendar year.

Patrys (ASX:PAB) opened at 17c, up 12.9% from Monday's opening price in heavy trading.