(MENAFN- ProactiveInvestors)Ergomed (LON:ERGO) partner Synta Pharmaceuticals has terminated its Phase III study of Ganetespib a treatment for lung cancer. It retains a minority interest in the drug after backing the earlier Phase II lung cancer study but will not invest or participate in four other ongoing studies for the compound. The Ganetespib decision has no impact on its financial position or forecast cash flows Ergomed said while four other co-development partnerships were proceeding to plan. Synta (NASDAQ:SNTA) said that based on interim analysis from the trial adding ganetespib to another treatment docetaxel for lung cancer sufferers was unlikely to improve overall survival compared to using docetaxel alone .
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