SINGAPORE - CytoMed Therapeutics Limited (NASDAQ:GDTC), a biopharmaceutical company with a market capitalization of $39.81 million, announced today a collaboration with SunAct Cancer Institute in India to initiate a Phase 2 clinical trial for a novel cancer treatment. The trial will investigate the safety and efficacy of CytoMed’s allogeneic gamma delta T cells in treating solid tumors. According to InvestingPro data, the company maintains a strong financial position with a current ratio of 21.53, indicating robust liquidity to support its clinical developments.
The partnership aims to accelerate the development and application of this cell-based immunotherapy, with the potential to offer a cost-effective alternative for cancer patients in India. The collaboration will leverage SunAct’s expertise and facilities, as well as CytoMed’s proprietary technology and manufacturing capabilities. The announcement has contributed to the company’s strong market performance, with InvestingPro showing a significant 13.11% return over the past week.
Dr. Vijay Patil, a leading oncologist at SunAct, expressed optimism about the study’s potential to contribute valuable data to the global fight against cancer. CytoMed’s Chairman, Peter Choo, echoed this sentiment, highlighting the alignment with SunAct’s vision of providing affordable cancer therapeutics.
The agreement, set for a term of five years, involves joint sponsorship of the clinical trial by CytoMed and SunAct. CytoMed will offer scientific and technical support, as well as produce the investigational gamma delta T cells.
This collaboration comes at a time when India is encouraging advancements in cancer immunotherapy through regulatory support and research incentives. The Central Drugs Standard Control Organization (CDSCO) of India oversees such international clinical trials.
CytoMed, established in 2018 and spun off from Singapore’s Agency for Science, Technology and Research (ASTAR), specializes in creating immunotherapies for cancer treatment. SunAct Cancer Institute, known for its pioneering work in CAR T-cell therapy, continues to be a leader in cancer research and treatment in India.
The press release includes forward-looking statements regarding the potential impact of the clinical trials and the company’s plans for development and commercialization of its product candidates. These statements are subject to various risks and uncertainties and are not guarantees of future performance. InvestingPro analysis indicates that analysts do not anticipate profitability this year, with additional insights and 8 more ProTips available to subscribers to help evaluate the company’s prospects.
The information provided is based on a press release statement from CytoMed Therapeutics Limited.
In other recent news, CytoMed Therapeutics Limited has initiated a Phase I clinical trial for a novel CAR-T cell therapy known as the ANGELICA Trial. This development, in collaboration with the National University Hospital of Singapore, employs a first-in-class approach using allogeneic chimeric antigen receptor T cells derived from healthy donors, potentially enhancing the quality and lowering the cost of CAR-T cell therapies. Further, CytoMed has also acquired a licensed cord blood bank in Malaysia via its subsidiary, LongevityBank Pte Ltd, to leverage cord blood-derived biologics for research into aging diseases and regenerative medicine.
Additionally, CytoMed recently purchased assets from the Malaysian cord blood bank, Cellsafe International Sdn Bhd, for approximately $490,000. This acquisition includes a cord blood banking license, cryopreservation equipment, over 12,000 cord blood units, and two real estate properties, aiming to expand the use of cord blood for broader applications such as treating solid cancers.
In another development, CytoMed has been granted a Malaysian patent for its licensed induced pluripotent stem cell (iPSC)-derived hybrid gamma delta Natural Killer T (γδ NKT) cells technology, which could potentially target a wide range of cancers without genetic editing. The company’s management has received board approval to invest up to a 7% stake in this venture. These recent developments align with the company’s ongoing ANGELICA Trial and its mission to develop affordable, off-the-shelf immune cell therapies for life-threatening diseases, particularly cancers.
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