May 10 (Reuters) - Cyclopharm Ltd CYC.AX :
* Cyclopharm to proceed independently with FDA trials CYC.AX
* Not to proceed to binding agreement with Jubilant Draximage
* Says trial program remains on track, targeting USFDA approval in mid-2018
* Total cost to Cyclopharm is expected to be less than US$7 million
* Source text for Eikon