This year has been an exciting and productive one for Cartherics. We opened our new and impressive research and development facility in Notting Hill and are busy completing the preclinical studies for our lead iNK product for treating ovarian cancer. The follow-on product pipeline is revving up with new CAR target candidates, additional gene edits to enhance immune cell function and our autologous products moving into clinical studies at the Peter MacCallum Cancer Centre for clinical studies. The new facilities enable a real increment in company capacity for growth and delivery of innovative cancer therapies.

There have been a number of exceptional performances throughout the year. Our team worked diligently to usher in the new facilities on time and beyond expectations. Our lab managers ensured the effective transfer of the program from the Monash Medical Centre to the new facility with minimal interruption to the ongoing work. Together, the team provided constant vigilant attention to fine detail of the company operation for research, development, and external connections. We continue to invest in developing the future leaders in cell therapies through our innovative Honours and Higher Degree Research Programs.

Our patent portfolio is growing, reflecting our commitment to the development of novel and innovative cellular immunotherapies for the treatment of cancer. Furthermore, our incredible genomics program appears to be state of the art internationally. It is wonderful to see the development of young people and our entire Cartherics’ team working together tirelessly to develop new cell therapies for cancer patients. However, all of this would not have been possible without the continued support of our investors, partners and the Commonwealth and Victorian Governments.

Looking to 2023, I expect it to be Cartherics’ best year ever. I expect the difficult upscale manufacturing of our CAR-iNK cells to be completed and transferred to our GMP partner. A monumental effort by all involved. Our autologous products will enter clinic trials and our dual CAR-iNK aimed at activating endogenous macrophages will be tested for efficacy. Our allogeneic iT cells will begin testing in animal models and there are high expectations for this product and we will also be initiating the iMacrophage program. So much to look forward to.

Cartherics will be going out to the investor markets in 2023 and all our product developments will be under scrutiny. It will require we keep up to our timeline expectations and keep our company on track to deliver the innovative therapies that are now so close. We are now seeking CSO support for our beloved Richard Boyd as he takes some time to maintain his health and input into Cartherics advancement. Roland Shu, with support from Bryan Williams, will step up for management of the pipeline for the near future while the CSO search continues. We are confident that our brilliant team will take us to recognition as the premier immune therapy start-up in Australia, and worthy of comparison with the best worldwide.

Alan Trounson AO

CEO Cartherics