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Chimeric (ASX: CHM) updates on US$3M introduction fee for latest Imugene development

August 16, 2023 06:00 PM AEST | By Sonal Goyal
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Highlights

  • Chimeric is set to receive US$3 million in introduction fee following the definitive documentation between Imugene and Precision Biosciences, Inc.
  • The definitive documentation is related to the research and development of azer-cel CAR T technology.

Australian cell therapy company Chimeric Therapeutics Limited (ASX: CHM) is to receive an introduction fee of circa AU$4.4 million (US$3 million) from Imugene Limited (ASX: IMU), which inked an agreement (definitive documentation) with Precision Biosciences, Inc. in relation to the R&D of the azer—cel CAR T technology.

Chimeric informed that the fee has to be paid in cash within 30 days.

Data source: Company update

CHM shares gain over 10.5%

CHM closed the day’s trade at AU$ 0.042 on 16 August 2023, up 10.5% from the last close. The company has a market cap of over AU$20 million. 


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