CAMBRIDGE, Mass.--(BUSINESS WIRE)--AVEO Pharmaceuticals, Inc., a biotechnology company leveraging breakthrough discoveries in cancer biology to discover, develop and commercialize targeted oncology therapies, today announced that it has initiated another Phase 1b clinical study for its lead product candidate, the novel triple VEGF receptor inhibitor AV-951. This open-label, sequential dose escalation study will be conducted at leading cancer institutions in Europe and will evaluate AV-951 in combination with the FOLFOX6 chemotherapy regimen in patients with advanced colorectal cancer and other gastrointestinal cancers. VEGF-targeted therapy is currently the standard of care in combination with chemotherapy for patients with colorectal cancer.