CAR-T Cell Therapy Program Focuses on Solid Tumours
Chimeric Therapeutics (CHM: $0.005, last raise at $0.005) is aiming to obtain early positive data from its primary CAR-T cell therapy program to secure a major commercial deal. The company is running three technology programs, one of which is internally funded: the CDH17 program targeting solid tumours, including colon cancer and neuroendocrine tumours (NETs). The CDH17 program is the company's main short-term focus.
Early Data Showing Promise
So far, four patients have been treated, with seven patients recruited at US-based sites. While follow-up data from the first patient is unavailable due to contact loss, early data from the second and third patients shows signs of efficacy, even at the low initial dose. Disease stability has been achieved in these patients, including one with NETs, a very aggressive tumour type.
The initial dose for the first three patients was 50 million cells, which increases to 150 million cells for the second cohort, and up to 450 million cells for the third. The company has observed a good safety profile, attributed to the target’s high specificity for solid tumours and its accessible position on the tumours. No off-target effects or gastric side effects have been observed.
Looking Ahead: Cohort Data and Potential Commercial Deal
Chimeric will provide an update on clinical outcomes once data is available from three patients in the second cohort (150 million cells dose). For certain tumours, such as those in the colon, a higher dose may be necessary. Despite initial low expectations of seeing tumour impact at the first dose, the early encouraging results have led to a US philanthropist donating $4 million to support the program, with a focus on finding a cure for colorectal cancer.
The Phase I study aims to recruit 15 patients. One challenge with the technology is its high cost, at $0.75 million per patient to prepare the autologous cell therapy. Chimeric has so far funded the manufacturing and processing of cells for six patients.
Commercial Prospects and Funding Update
The company is looking to see positive activity in at least six patients to secure a commercial deal for the technology. Data from these patients may be available in the coming months. Chimeric is currently in discussions with at least three potential commercial partners.
Chimeric finished March with $5 million in cash and raised an additional $1 million last month from a rights issue involving 365 shareholders. The company's quarterly spend while running studies is around $4 million.
Company Capitalization
Chimeric is capitalized at just $9 million.
Bioshares Recommendation: Speculative Buy Class C
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