- Chimeric Therapeutics (CHM) obtains the exclusive licence to a novel treatment for solid tumours from the University of Pennsylvania
- Under the terms of the agreement, Chimeric will hold the exclusive rights to develop and commercialise the cell therapy, which has been shown to completely eradicate tumour cells in preclinical studies
- Upfront fees associated with the licence agreement will be funded entirely from Chimeric’s existing cash reserves
- Development is currently underway for a phase 1 clinical trial scheduled to begin in 2022 at the University of Pennsylvania
- Chimeric Therapeutics was up 4.76 per cent, trading at 33 cents at 12:05 pm AEST
Chimeric Therapeutics (CHM) has obtained the exclusive licence to a novel treatment for solid tumours from the University of Pennsylvania.
The clinical-stage cell therapy company has entered into an agreement with the cell therapy centre in Pennsylvania for the first Chimeric antigen receptor (CDH17 CAR T) cell therapy.
Under the terms of the agreement, Chimeric will hold the exclusive rights to develop and commercialise the cell therapy and will pay the University of Pennsylvania licence fees, development milestones and royalty payments based on commercial net sales.
Upfront fees associated with the licence agreement will be funded entirely from existing cash reserves.
The CDH17 CAR T cell therapy is a next generation CAR T cell therapy that uses novel technology to specifically address the challenges of solid tumours.
The novel cell therapy targets an oncogenic factor associated with poor prognosis and metastasis in neuroendocrine tumours, as well as the most common gastrointestinal tumours like colorectal cancer, pancreatic cancer and gastric cancer.
Preclinical studies of the therapy have proven its safety, with no toxicity to normal tissues, and promising efficacy, completely eradicating tumour cells with no relapse of the tumour.
Chimeric Chief Operating Officer, Jennifer Chow says the company is excited to bring the CDH17 CAR T cell therapy into its pipeline.
“Our focus is on developing cell therapies that have the potential to be curative for patients and we believe that this CDH17 CAR T cell therapy has that transformative potential,” said Jennifer Chow.
“We are very much looking forward to working with Dr Hua and his team to bring this CAR T to the clinic as soon as possible.”
Development is currently underway for a phase 1 clinical trial that is scheduled to begin in 2022 at the University of Pennsylvania.
Chimeric Therapeutics was up 4.76 per cent, trading at 33 cents at 12:05 pm AEST.