Cartherics, a biotechnology company developing immune cell therapies for treating cancer and other diseases, announced that it has raised well over its target A$15 million in an oversubscribed financing round.
This funding round will support the clinical trial for CTH-401, the Company’s lead cell therapy for ovarian cancer, and expand its pipeline to include other diseases.
CTH-401 is the only natural killer (NK) cell product currently under development that integrates a chimeric antigen receptor (CAR) that targets the adenocarcinoma specific antigen, TAG-72 – a well-validated tumour marker, widely expressed in a range of solid tumours, including ovarian, gastric, colorectal, prostate and pancreatic cancers.
Cartherics has shown that CTH-401 is very effective in killing ovarian cancer cells in both tissue culture and animal models, with the initiation of the first clinical trial planned for next year.
KEY QUOTES:
“The successful capital raising, in times of scant investment support in biotechnology, is welcome and further supports confidence in the company for the delivery of effective therapies in ovarian cancer and other difficult diseases.”
- Cartherics’ Chief Executive Officer, Prof. Alan Trounson AO
“We are eager to start the CTH-401 clinical trial, building on promising preclinical results. This milestone reflects our commitment to innovative ovarian cancer treatments and our investors’ confidence in our vision to improve patient outcomes and drive growth.”
- Cartherics’ Chairman Bob Moses
