‘’The best, most experienced management team in Australia for CAR T cell therapy’’ – Paul Hopper
Chimeric Therapeutics Ltd (ASX:CHM) listed on the ASX January 21, 2021, raising A$35m with a market capitalisation at IPO around A$40m (20 cent issue price). Given the demand of Chimeric’s primary asset, chlorotoxin, and its star-studded management team, the company’s share price shortly after listing reached its 52 week high of 44 cents. Chimeric currently trades at 34 cents (market capitalisation A$64m). As at June 30, the company reported a cash balance of A$22.4m and is well funded for the foreseeable.
Chimeric acquires an exclusive licence to novel CDH17 CAR T from the University of Pennsylvania (UPENN)
New technology, novel CDH17 CAR T, originates from one of the greatest CAR T therapy universities globally, the University of Pennsylvania (UPENN), an organisation considered the originator of CAR T cell therapy. CDH17 is a novel third-generation asset that has been in development for over a decade. Pre-clinical models have shown potent efficacy, with no tumour relapse, and it is highly anticipated it will move into the clinic by 2022.
Chimeric has signed a three-year sponsorship agreement, and will continue to collaborate and further develop… continue to the full company update here.