Argus Pharmaceuticals Inc. (NASDAQ:ARGS) of Houstonannounced Thursday that it has received clearance from theFDA to begin human clinical trials on its anti-cancer compoundAR-623 for treating leukemia.

The initial Phase I study will be conducted at the University ofTexas M.D. Anderson Cancer Center in Houston.

AR-623 is a formulation of all trans retinoic acid, or tretinoin.The product is designed to deliver the drug to sites whereleukemic cells are formed and then induce them to develop asnormal cells.

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