Image Source: Company Announcement
- Imugene Limited and Arovella Therapeutics have inked a research agreement for a strategic collaboration.
- The two biotech firms will conduct a preclinical trial of ALA’s iNKT cell therapy (CAR19-iNKT) and IMU’s onCARlytics (CF33-CD19) platform to target solid tumours.
- The study will be exploring the potential of using the iNKT cell therapy in cancers, addressing a major unmet need.
Even as the world is witnessing a revolution in medical technology, cancer continues to be a major health issue. Around 19.3 million new cancer cases (18.1 million excluding non-melanoma skin cancer) occurred in the year 2020 across the world. Also, cancer is a leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, as per WHO.
Two biotech companies, Imugene Limited (ASX:IMU) and Arovella Therapeutics (ASX:ALA), have joined hands to contribute to the ongoing cell therapy revolution in cancer treatment. The two firms have entered a strategic collaboration to work on a combination of an off-the-shelf cell therapy and oncolytic virus to detect and eliminate solid tumours.
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As per the company announcement, the collaboration holds the potential to bring in long- and short-term business benefits to both firms as it will strengthen their foothold in the global cancer therapeutics market, which, according to Precedence Research, is likely to touch AU$366 billion by 2030. The market is growing at a compound annual growth rate of 9.1%.
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