𝛼SKChimeric Therapeutics Limited - Assembling a World-Class Team, Partners and Assets
Chimeric Therapeutics Limited
Assembling a world-class team, partners and assets
Chimeric Therapeutics Limited (ASX:CHM) is a clinical-stage cell therapy company focused on the discovery, development and commercialisation of innovative and promising cell therapies. The group listed on the ASX in January 2021, raising $35m at $0.20/share for the licensing and initial development costs of CLTX CAR from the City of Hope in Los Angeles. The group has since raised $14.4m at $0.17/share and secured a further $30m equity placement agreement with L1 Capital to continue the development of key assets. Since listing key assets have grown to include the third- generation CDH17 CAR T, in pre-clinical development for a range of solid tumours, and an option on the CORE-NK platform, which is an off-the-shelf natural killer (NK) cell platform. CAR T therapy is a personalised therapy involving the removal of a patient’s own T-cells which are reengineered to fight a specific cancer and infused back into the same patient. NK cells are taken from a donor, reengineered, and kept on the shelf for use in any patient for a specific cancer, resulting in a less personalised but faster and more cost-effective treatment. There are currently five CAR T therapies approved by the FDA and available commercially including Yescarta® (subsets with lymphoma), TecartusTM (subsets with lymphoma), AbecmaTM (subsets with multiple myeloma), Breyanzi® (subsets with lymphoma) and Kymriah® (subsets with lymphoma and leukaemia).
Business model
CHM has assembled a world-class team focussed on the discovery, development and commercialisation of cell therapies. CHM initially licensed the CLTX CAR T from the City of Hope Cancer Centre in Los Angeles for the treatment of patients with recurrent glioblastoma, which is currently in a Phase I dosing trial, while other indications are being examined. CHM has also exclusively licensed the third-generation pre-clinical phase CDH17 CAR T from the University of Pennsylvania, the leading university for cell therapy patents for the treatment of gastrointestinal cancers and neuroendocrine tumours. Additionally, CHM entered an exclusive option to license the CORE-NK platform from Case Western Reserve University (CWRU), expanding the pipeline to four new Chimeric assets. The pipeline of therapies across multiple indications is aimed at mitigating the high risk associated with biotechnology discovery, development and commercialisation.
Rapid progress in diversifying portfolio since listing
Since listing in January 2021 with essentially a single product/single indication cell therapy (CLTX CAR T for recurrent GBM), CHM has been active in both business development and progressing its portfolio assets. The recurrent GBM trial has completed the manufacturing and quality release and is expanding from a single site to multiple sites. A three-year SRA with the University of Pennsylvania to further develop and understand CDH17 CAR T has been expanded to include manufacturing clinical-grade lentiviral vector. CHM is also progressing toward a Phase I clinical trial in neuroendocrine tumours and gastrointestinal adenocarcinomas. An option has been exercised to negotiate a licence for a clinically validated, off-the-shelf natural killer (NK) cell platform, offering an allogenic option to the portfolio across four new-generation NK and CAR NK assets. An expansion of the pipeline across both autologous and allogeneic technologies, and from early pre-clinical to late Phase I clinical therapies, should broaden the appeal of the company to both investors and potential future partners.
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