ST. PAUL, Minn. - ImmunoScape Pte. Ltd., a biotech company specializing in TCR-T cell therapies for solid tumors, has been awarded a $250,000 G-Rex Grant to support the development of its novel WT1-targeted therapy. The grant, provided by ScaleReady in collaboration with Wilson Wolf Manufacturing and Bio-Techne (NASDAQ:TECH) Corporation (NASDAQ: TECH), aims to expedite the process development and regulatory studies necessary to introduce the therapy to clinical settings.
Dr. Tania Ribeiro, Senior Director and Head of CMC at ImmunoScape, expressed the company's gratitude for the grant, which is intended to offset the time and cost associated with bringing their therapy to the clinic. John Wilson, CEO of Wilson Wolf and co-inventor of G-Rex, emphasized the grant program's commitment to accelerating the generation of clinical data critical for investor confidence.
The G-Rex Grant will facilitate ImmunoScape's pre-clinical process development, including the use of Wilson Wolf's G-Rex bioreactors, designed for closed-system manufacturing. Furthermore, ImmunoScape will gain early access to Bio-Techne's ProPak GMP Cytokines, which are expected to reduce costs and variability in GMP manufacturing.
The grant also supports the transfer of ImmunoScape's manufacturing process to their contract development and manufacturing organization (CDMO) partner, aiding in the creation of manufacturing batch records for an IND data package submission to the FDA, anticipated in 2026.
ScaleReady's G-Rex Grant Program is a $20 million initiative to advance cell and gene-modified cell therapy (CGT) development and manufacturing, offering individual grants up to $300,000 and support from a consortium of partners with expertise in cGMP manufacturing, quality, regulatory affairs, and CGT operations.
ImmunoScape is leveraging Deep Immunomics and AI-driven insights to select TCRs with the highest therapeutic potential for clinical development. The company has multiple programs in discovery and preclinical stages and is preparing for its lead program to enter clinical trials while exploring strategic partnerships.
ScaleReady provides a G-Rex centric manufacturing platform that is currently utilized by over 800 organizations and is involved in approximately 50% of CGT clinical trials and four commercially approved CGT drugs. This collaboration is based on a press release statement.
In other recent news, Bio-Techne Corporation reported a 1% year-over-year organic revenue growth in its fourth-quarter results. The company's diverse growth verticals, including proteomics, cell and gene therapy, spatial biology, and molecular diagnostics, have shown resilience despite the challenging fiscal year. Notably, the ExoDx Prostate test in molecular diagnostics exceeded 20% organic revenue growth.
Meanwhile, Scotiabank maintained a Sector Outperform rating on Bio-Techne shares, attributing the company's success to its Four Growth Pillars. The firm expressed confidence in Bio-Techne's ability to continue outperforming its peers and maintaining its growth trajectory despite the anticipated slight decline in the life science tools market for calendar year 2024.
Bio-Techne's management remains optimistic about future market stabilization, especially in China and biopharma. These recent developments demonstrate Bio-Techne's resilience and growth potential amidst broader market difficulties. The company is also expecting low single-digit growth in the first half of fiscal year 2025, potentially reaching mid-single-digit growth as biotech funding returns.
InvestingPro Insights
As ImmunoScape Pte. Ltd. advances its TCR-T cell therapies, its collaborator Bio-Techne Corporation (NASDAQ: TECH) continues to demonstrate financial metrics that may interest investors. With a market capitalization of $11.94 billion, Bio-Techne is a significant player in the biotech industry. The company's high Price/Earnings (P/E) ratio of 70.27 suggests that investors have high expectations for future earnings growth, which aligns with the optimistic outlook for its collaboration with ImmunoScape on cutting-edge cancer therapies.
InvestingPro Tips indicate that Bio-Techne has been able to maintain dividend payments for 17 consecutive years, which may appeal to income-focused investors. Additionally, the company's liquid assets exceed its short-term obligations, providing a level of financial stability that supports ongoing research and development efforts.
Key InvestingPro Data metrics reveal that Bio-Techne has a Price/Book ratio of 5.77 for the last twelve months as of Q4 2024, suggesting that the market values the company's assets favorably. Moreover, the company's gross profit margin stands at 66.47%, indicating a strong ability to convert revenue into gross profit.
For investors seeking more in-depth analysis, there are 11 additional InvestingPro Tips available, which can provide further insights into Bio-Techne's financial health and market position. These tips can be accessed through the InvestingPro platform at https://www.investing.com/pro/TECH.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.