Prescient (ASX:PTX) closes a very productive September quarter, achieving key milestones

Highlights

• Prescient introduced CellPryme-A, an adjuvant therapy platform for improving the tumour-killing ability of cellular therapies and host survival.
• Prescient entered a strategic collaboration with the MD Anderson Cancer Centre in the United States.
• Prescient appointed Q-Gen for manufacturing OmniCAR T cells.
• PTX-100 received FDA Orphan Drug status to treat peripheral T-cell lymphoma.
• Prescient was granted a major OmniCAR patent in the United States.

Prescient Therapeutics (ASX:PTX), an Australian biotech player developing personalised medicine therapies for cancer, has published its report for the September quarter. The company sees the September quarter as a productive one, with several value-adding milestones achieved across different business aspects.

Let us have look at the key milestones that the company covered during the quarter.

Image source: Prescient Therapeutics

Introduction of CellPryme-A

Dr Rebecca Lim, Senior Vice President of Scientific Affairs, unveiled the CellPryme-A data at the prestigious CAR-TCR Summit in Boston. CellPryme-A is a new cell therapy enhancement platform and an adjuvant therapy administered to cancer patients.

In combination with cellular immunotherapy, CellPryme-A overcomes the problem posed by the tumour microenvironment (TME). The TME reduces the effectiveness of cellular immunotherapies.

CellPryme-A enhances host survival in highly resistant, syngeneic animal models by lowering the number of suppressive regulatory T cells. These T cells found around solid tumours lessen the effects of CAR-T and other cancer therapies.

Strategic partnership with MD Anderson

Prescient entered a strategic collaboration with The University of Texas MD Anderson Cancer Center (MD Anderson) – the largest cancer centre in the United States.

The partnership will bring together Prescient's OmniCAR modular 'plug and play' CAR platform with an undisclosed, proprietary T cell receptor-like binder that MD Anderson's Evolution of Leukemia and Immunity Post Stem cEll transplant platform (ECLIPSE) discovered.

MD Anderson’s unique binder can be used in combination with Prescient’s CD33 and CLL-1 binders and has the potential to lead to synergies, including improved efficacy and a broader spectrum of cancer-killing. OmniCAR cells and binders will be developed and tested by the ECLIPSE team at MD Anderson. The two parties will share the costs and ownership of the resultant therapeutic product equally.

Manufacturing agreement with Q-Gen

To speed up its upcoming clinical trial, Prescient entered a manufacturing service agreement with Q-Gen Cell Therapeutics (Q-Gen). The agreement will focus on producing OmniCAR cell lines. According to PTX, the OmniCAR AML program will likely be the first OmniCAR program to enter clinical studies.

The production will occur at Q-Gen's dedicated Brisbane facility. It will also incorporate PTX's CellPryme-M technology into OmniCAR T cells' production process to achieve a more effective and longer-lasting T cell phenotype.

Orphan Drug Designation for PTX-100

In the September quarter, the US FDA granted Prescient Orphan Drug Designation (ODD) for PTX-100. The designation is regarding PTX-100 as a treatment for peripheral T-cell lymphoma, a hard-to-treat blood cancer.

Under the ODD status, PTX-100 will get a guaranteed market for seven years after regulatory approval. It will also get a waiver of Prescription Drug User Fee Act fees once the drug is on the market.

Secured major OmniCAR patent in the United States

During the quarter, Prescient secured a major US patent titled ‘SpyCatcher and SpyTag: Universal Immune Receptor for T Cells’. It offers protection to the firm's valuable intellectual property in the largest global healthcare market until 2039.

Financial update

At the end of the September quarter, Prescient had a cash balance of AU$10.6 million. Post the end of the quarter, Prescient completed a share purchase plan, raising AU$8.8 million. Similarly, it wrapped up a top-up placement, raising gross proceeds of a further AU$2.5 million.  This bolster’s Prescient’s cash balance to AU$21.9 million.

At the time of writing this article, share price of PTX was AU$0.160 apiece.