SINGAPORE - CytoMed Therapeutics Limited (NASDAQ: GDTC), a biopharmaceutical company specializing in cell-based therapies for cancer treatment, has announced the commencement of a Phase I clinical trial for a novel CAR-T cell therapy. The ANGELICA Trial, conducted in collaboration with the National University Hospital (NUH) of Singapore, received full approval to proceed with patient enrollment today.
The trial is co-supported by the Singapore Ministry of Health's National Medical Research Council and MOH Holdings Pte Ltd. It represents a significant stride in cancer therapy as it employs a first-in-class approach using allogeneic chimeric antigen receptor T cells derived from healthy donors. This method potentially enhances the quality and lowers the cost of CAR-T cell therapies, which are traditionally personalized treatments.
Dr. Anand Jeyasekharan, the lead investigator at the National University Cancer Institute, Singapore, expressed optimism about the trial's potential to offer new treatment options for patients with advanced cancers resistant to standard therapies.
CytoMed's ANGELICA Trial utilizes gamma delta T cells, a rare immune cell subtype, which can be modified and re-infused into unrelated patients without the need for matching, a significant departure from the established use of alpha-beta T cells in CAR-T therapies.
In a related development, CytoMed has acquired a licensed cord blood bank in Malaysia, sharpening its focus on cell therapy through its subsidiary, LongevityBank Pte Ltd. This acquisition, completed using internal cash resources, allows the company to leverage cord blood-derived biologics for research into aging diseases and regenerative medicine.
Chairman Peter Choo highlighted the trial's importance for CytoMed's mission to develop affordable, off-the-shelf immune cell therapies for life-threatening diseases, particularly cancers.
The company is also set to discuss its financial results for the six months ended June 30, 2024, in an earnings conference call on October 8, 2024. Management will be available for meetings in New York City from October 28 to November 1, 2024, to engage with shareholders and potential investors.
This news is based on a press release statement from CytoMed Therapeutics Limited.
In other recent news, CytoMed Therapeutics Limited has acquired 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. CytoMed's investment aims to expand the use of cord blood for broader applications such as treating solid cancers, supporting the production of gamma delta (γδ) T cells derived from cord blood units.
In addition to this, CytoMed has also been granted a Malaysian patent for its licensed induced pluripotent stem cell (iPSC)-derived hybrid gamma delta Natural Killer T (γδ NKT) cells technology. This technology has the potential to 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 the venture, indicating their confidence in the potential of cord blood-derived cell therapies.
These are recent developments for CytoMed, which is actively developing its IPSC-γδ NKT cell program and seeking strategic partners to develop this subsidiary as a specialized immune cell bank. These actions align with the company's ongoing ANGELICA Trial, a phase 1 clinical trial in Singapore focusing on chimeric antigen receptor T-cells (CAR-T) for cancer treatment.
InvestingPro Insights
As CytoMed Therapeutics Limited (NASDAQ: GDTC) embarks on this groundbreaking clinical trial, investors may find additional context from InvestingPro's real-time data and tips valuable.
According to InvestingPro data, GDTC has a market capitalization of $21.97 million, reflecting its current position as a small-cap biopharmaceutical company. This valuation aligns with the company's developmental stage and its focus on innovative cell-based therapies.
InvestingPro Tips highlight that GDTC holds more cash than debt on its balance sheet, which is crucial for a biotech company in the resource-intensive clinical trial phase. This financial cushion could provide the necessary runway for the ANGELICA Trial and other research initiatives.
However, it's important to note that GDTC is not currently profitable, with a negative P/E ratio of -9.37. This is not uncommon for biotech companies in the development stage, as they often prioritize research and clinical trials over immediate profitability.
Interestingly, GDTC has shown a significant return over the last week and a strong return over the last month, with price total returns of 21.26% and 28.64% respectively. This recent positive momentum could be attributed to investor optimism surrounding the commencement of the Phase I clinical trial.
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 8 additional InvestingPro Tips available for GDTC, which could provide further depth to the investment thesis for this emerging biotech company.
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