Belerofon is a formulation of interferon-alpha that is intended to last longer in serum and reach blood levels comparable to those obtained by injected products.

"The development of an orally administered Interferon-alpha highlights the potential of Nautilus Biotech's technology platform," said Paul Martin, the firm's vice president of strategy. "It represents the promise of a third generation of therapeutic protein drugs that can be taken more easily and have great commercial potential to replace established injectable products."

The phase 1 trial of Belerofon is scheduled to begin later this year. Nautilus said it will be an open-label, ascending dose study of four doses of the investigational compound.