Cartherics is pleased to announce that it is currently undergoing a capital raise, looking to raise up to AU$20 million to support its ongoing development activities and complete all activities in preparation for the first clinical trials of its lead, allogeneic cell therapy for ovarian cancer. The financing will also allow Cartherics to advance its earlier stage projects and fund its ongoing operations through to 2026.
Cartherics was established to leverage the founders’ expertise and networks in stem cell biology, immunology and oncology to develop the next generation of cancer cell therapies. The company’s lead allogeneic cell therapy for ovarian cancer, CTH-401 is the only NK cell product currently under development that targets the adenocarcinoma specific antigen – TAG-72. TAG-72 is a well-validated tumour marker that is widely expressed in a range of solid tumours, including ovarian, gastric, colorectal, prostate and pancreatic cancers. Cartherics has demonstrated that CTH-401 is very effective in killing ovarian cancer cells in both tissue culture and animal models, with clinical trials planned for 2025.
The Company also has a proprietary autologous CAR-T cell therapy (CTH-004) for the treatment of ovarian cancer, which will undergo clinical trials led by the Peter MacCallum Cancer Center in Australia and Shunxi Holding Group Co Ltd (Shunxi) in China in 2024/2025. This clinical trial will be the first time a CAR-T cell therapy product containing the genetic modifications incorporated into CTH-004 has been tested in humans.
Cartherics presents a rare investment opportunity to gain exposure to both the near-term potential for autologous CAR-T products and the medium-term potential for allogeneic immune cell products. Investors in the current capital raising have the opportunity to both invest in a leading company in the development of cutting-edge cancer treatments but also to do so at an attractive valuation ahead of major “value inflection points”.
Cartherics’ CEO, Prof. Alan Trounson AO said, “The ability to gene edit and manufacture tens of billions of highly functional, cancer killing CAR-iNK cells, is a powerful platform for creating effective cancer therapies for even the most resistant solid tumours, with potential expansion into diseases where fibrosis is a major problem (lung, liver, kidney). These are areas of major innovation.”
A non-confidential Investment Memorandum is available for download here Investment Memorandum November 2023.pdf .
A detailed Investment Memorandum (IM) is available under cover of a confidential disclosure agreement (CDA), please contact:
Prof Alan Trounson
Dr Ian Nisbet
Cartherics is a privately held biotechnology company based in Melbourne, Australia that is rearming the body’s immune system to fight cancer. It is developing cell-based immunotherapies for the treatment of cancer, with a portfolio of CAR-T and CAR-NK cell products. The Company’s allogeneic (“off-the-shelf”) cell platform is based upon induced pluripotent stem cells (iPSCs) generated from donated cord blood that can be differentiated into NK cells, T cells and other cells of the immune system. The iPSCs are genetically engineered to provide enhanced function for the derived NK and other immune cells.
The Company is also developing autologous CAR-T cell therapies. These use the patient’s own immune system T cells, which are modified to be effective against the patient’s cancer cells. CTH-004 is created by genetically modifying patient T cells to insert a chimeric antigen receptor (CAR) to target a marker (TAG-72) on ovarian cancer cells and delete genes that are involved in suppression of T cell function. https://cartherics.com/
Forward-looking statements disclaimer
This announcement contains forward-looking statements regarding the Company’s business & the therapeutic & commercial potential of its technologies & products in development. Any statement describing the Company’s goals, expectations, intentions or beliefs is a forward-looking statement & should be considered an at-risk statement. Such statements are subject to certain risks & uncertainties, particularly those risks or uncertainties inherent in the process of developing technology & in the process of discovering, developing & commercializing drugs that can be proven to be safe & effective for use as human therapeutics & in the endeavor of building a business around such products & services. Actual results could differ materially from those discussed in this document.