Chimeric Therapeutics Ltd (ASX:CHM) continues to develop its oncology pipeline with novel cell therapy technologies to provide benefits to cancer patients globally.
In its March quarter report, the company highlighted its healthy financial position, with $23.6 million in cash and equivalents as of March 31.
Successful initial public offering
During the quarter, Chimeric completed a $35 million initial public offering (IPO) and successfully listed on the ASX in January with support from new and existing institutional, professional and retail investors within Australia and overseas.
Proceeds from the IPO are being used to fund the phase-1 clinical trial of Chimeric’s cell therapy (Chlorotoxin Chimeric antigen receptor T cell therapy, or CLTX CAR T) and are also being applied to the development of an oncology-focused pipeline of novel cell therapies.
This will enable high-value recruitment investments and other corporate activities, including the payment of licence fees.
The year ahead.
Phase-1 trial patient cohort dosing completion
CLTX CAR T recently reached a key safety milestone with all patients dosed in the first patient cohort in the phase 1 clinical trial progressing beyond the 28-day follow up period without experiencing dose-limiting toxicities.
Achievement of this safety milestone enables the trial to progress to the second dosing level, which will introduce dual CLTX CAR T administration (ICT administration and intracranial intraventricular (ICV) administration) at a dose of 88 X 106 CAR T cells. This will also enable patient dosing without a mandated stagger.
This study aims to enrol 18-36 patients with MMP2+ recurrent or progressive glioblastoma (GBM) across 4 dose levels.
Study objectives are to evaluate the safety and efficacy of CLTX CAR T in patients with recurrent or progressive GBM and to establish recommended dosing for a phase 2 trial.
Best in class CAR T cell therapy
Chlorotoxin CAR T (CLTX CAR T) cell therapy is a first and potentially best in class CAR T cell therapy that has the potential to address the high unmet medical need of patients with recurrent and progressive glioblastoma (GBM).
Research to develop the intellectual property covering this CAR T cell therapy took place at City of Hope.
CLTX CAR T cell therapy uniquely utilises chlorotoxin (CLTX), a peptide derived from scorpion toxin, as the tumour-targeting component of the chimeric antigen receptor (CAR).
CLTX and CLTX CAR T cells have been shown in preclinical models to bind more broadly and specifically to GBM cells than other targeting domains like EGFR, HER2 or IL-13.
In preclinical models, CLTX CAR T cells also demonstrated potent antitumor activity against GBM while not exhibiting any off-tumour recognition of normal human cells and tissues, indicating a potentially optimal safety and efficacy profile.
Appointments
Chimeric made three important appointments during the quarter, including distinguished executive Cindy Elkins as a non-executive director, Dr Eliot Bourk as incoming vice president, Business and Corporate Development to lead the company’s therapies pipeline and lastly associate professor Dr Yvonne Chen to the company’s Scientific Advisory Board.