Prescient Therapeutics Limited (ASX: PTX) is a clinical-stage oncology company which is engaged in small molecule drug development focused on new cancer drugs.
The company is known for having a robust clinical pipeline with two drug candidates, PTX 100 and PTX 200, which are under clinical development. Prescient Therapeutics is conducting clinical trials at the world-renowned US cancer centres.
Collaboration with Carina Biotech
The company recently unveiled its collaboration with, Adelaide based, Carina Biotech which is engaged in the production of CAR-T therapy.
With this collaboration, both companies will work on the development of new targeted cell therapies for cancer patients who have solid tumors. Prescientâs expertise, in the development of targeted therapies, will be combined with CAR-T technologies of Carina to develop CAR-T combination therapies for the treatment of a range of solid cancers.
The work will be managed within PTXâs existing budget, and it would not require any additional capital. It is also mentioned that both the companies would equally share any resulting intellectual property (IP) from the alliance. The exact terms of the agreement and collaboration are not disclosed in this announcement.
Chimeric Antigen Receptor T (CAR-T) cell therapy is an innovative and ground-breaking technology in which patients T cells are removed, re-engineered and again introduced back to the body to target and attack cancer cells.
CAR-T cell (or Chimeric Antigen Receptor T cell) therapy technique has been used to outstanding effect against certain blood cancers (particularly B cell malignancies), but to date has been less effective against other hematological and solid cancers. Many solid cancers have proven notoriously difficult to breach using immunotherapies like checkpoint inhibitors, yet account for the majority of cancers diagnosed, presenting an area of particular unmet medical need.
Prescientâs Managing Director and CEO Steven Yatomi-Clarke said in regard to this agreement that Prescient is pleased to have this collaboration opportunity with Carina, working together to develop new CAR-T technologies. Mr Yatomi-Clarke also added that collaboration with Carina boosts on the companyâs knowledge of biochemical pathways, and targeted therapies. He also mentioned that it would be an exciting new frontier for the company:
Managing Director of Carina Biotech Dr Justin Coombs commented on this collaboration and said that the early pre-clinical study results from Carinaâs CAR T-cells targeting solid tumours have been very positive and the company is actively exploring various approaches for enhancing the response rates in solid tumors.
He also added
Dr Justin Coombs mentioned that business development in immunotherapy is actively increasing and the companies are in the race for developing favorable targeted cancer immune therapies. Further, he added that working together with Prescient will accelerate the process of identifying potential innovative cancer therapies.
This collaboration with Carina will be structured on Prescientâs in-house development expertise with CSO Professor Said Sebti, who is named by Nature as one of the top 20 translational researchers globally, and other efficient team members having extensive experience in innovative oncology therapies and bringing new technologies with leading multinational companies such as GSK, Array, BioPharma and Pfizer.
Phase 1b Clinical Trial for First-in-Class anti-Cancer drug (PTX-100)-
On 14 November 2019 Prescient announced that the first patient had been administered with its second targeted anti-cancer drug (PTX-100), in a Phase 1b clinical trial, currently underway, for Prescientâs first-in-class cancer therapy. The first dose is administered to multiple myeloma patient who had completed 7 days PTX-100 therapy without any significant drug-related side effects.
On 19 November 2019, Prescient's stock was trading at $0.056 up by 12 per cent as compared to its previous closing price, with a market capitilisation of $19.71 million (AEST: 1:51 PM). PTX has 394.26 million outstanding shares trading on ASX.
To know more about Prescient Therapeutics Limited, click here.
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