Racura Oncology (ASX:RAC) and the University of Wollongong secured funding under the New South Wales government's TechVouchers program to study the efficacy of (E,E)-bisantrene for certain types of breast and ovarian cancers, according to a Wednesday filing with the Australian bourse.

A collaboration between Racura and the University aims to produce preclinical evidence for the development of RC220 as a new targeted therapy, per the filing.

Results from the collaboration are expected to come out over the next 12 months.

Racura Oncology shares gained 2% in recent Wednesday trade.