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Prescient (ASX:PTX) delivers a milestone-rich 2021, major strides made in OmniCAR development

Highlights 

  • Prescient Therapeutics has released its annual report for the financial year 2021, highlighting significant developments through the year.
  • A significant highlight of the year is the initiation of Prescient’s OmniCAR programs along with the completion of CAR-T manufacturing.
  • The targeted therapies of PTX are also progressing well and are under evaluation with higher dose levels after having demonstrated safety and efficacy at lower doses.
  • The two Cell Therapy Enhancement (CTE) programs are being undertaken at Peter MacCallum Cancer Center, reflecting the strong relationship between Prescient and Peter Mac.
  • The key officials onboarded during the year will support the cellular therapy development.

Australia-based clinical-stage oncology firm Prescient Therapeutics Limited (ASX:PTX) has completed another action-packed year with a sound financial position. The Company ended the year with a product pipeline of highly valuable cancer drugs, rapidly advancing towards several key milestones. The business remains well-funded to progress its development programs.

During the financial year 2021 the principal activities of Prescient consisted of:

RELATED READ: Prescient Therapeutics in a sweet spot with significant progress in multiple cancer programs

Targeted Therapies: PTX-100 and PTX-200

Prescient made excellent progress in the development of PTX-100 and PTX-200 assets with both clinical programs achieving key development milestones on the back of excellent results and ongoing investigator support. Both PTX-100 and PTX-200 cancer therapies achieved important clinical milestones during the reporting period.

  • The PTX-100 Phase 1b basket trial, led by principal investigator Professor Miles H Prince, progressed to an increased dose, yielding encouraging results after the reporting period. Now, the Company plans to conduct an expansion cohort study for PTX-100, that will focus on T cell lymphomas.
  • The ongoing Phase 1b trial of PTX-200 with cytarabine in patients with relapsed and refractory acute myeloid leukemia (AML) has progressed to higher dose levels under an amended protocol based on robust safety and efficacy results at lower dose levels.

ALSO READ: Prescient takes its PTX-100 trial to next level after Phase 1b success

Cell Therapy Enhancements (CTE)

The CTE programs are designed to enhance both current-generation and next generation CAR-T approaches.  Last year, Prescient consolidated the two CTE programs with collaborators Carina Biotech and the Peter MacCallum Cancer Center (Peter Mac). Now, these two programs are being undertaken at Peter Mac, signifying its strong relationship with Prescient.   

OmniCAR Platform

The initiation of OmniCAR programs along with the completion of CAR-T manufacturing programs is considered as a significant highlight of the financial year 2021.

OmniCAR is a universal, modular CAR (Chimeric Antigen receptor) platform developed to overcome many constraints and challenges of current CAR-T therapy, particularly in the area of solid cancers.

Source: PTX Investor Presentation (4 August 2021)

After the strategic review led by Prescient and its Scientific Advisory Board (SAB), the Company identified three internal programs for OmniCAR including-

  • OmniCAR CD33 and CLL-1 for AML.
  • OmniCAR Her2 for Her2+ solid tumours including breast, ovarian and gastric cancers.
  • OmniCAR Her2 and EGFRviii for glioblastoma multiforme (GBM).

All three next-generation CAR-T programs of PTX are highly differentiated from other CAR-T programs and seek to utilise the capabilities of the OmniCAR platform to overcome the challenges of other CAR-T approaches.

In a crucial OmniCAR milestone, the Company has successfully completed the manufacturing of binders, OmniCAR T-cells as well as immunogenicity testing of the components of OmniCAR platform.

Commenting on this, Steven Yatomi-Clarke, CEO and Managing Director of PTX stated-

RELATED ARTICLE: Positive results from immunogenicity testing send Prescient’s shares higher

It is noteworthy to mention that Prescient’s OmniCAR programs have opened the way for collaborations and partnerships with leading research teams and companies. This will not only help Prescient in the development of new markets and indications for the technology, but also enable the Company to combine its capabilities in ways that have the potential to immensely improve cancer therapy.

Prescient strengthens its IP position

During the year, Prescient has expanded its intellectual property (IP) position with most of the groundbreaking insights and progress made being retained and owned by the Company. This is a significant aspect of Prescient’s business and generates enormous future value and opportunities for the Company.

A key development in strengthening the IP portfolio was the notice of allowance from the USPTO (United States Patent and Trademark Office) for new patents, covering methods for using a specific biomarker for stratifying breast cancer patients and identifying the ones who are most likely to respond to PTX-100 treatment. After the grant, the patent is anticipated to be valid until 2031.

RELATED READ: Another feather in Prescient Therapeutics’ (ASX:PTX) cap, bags new US Patent for PTX-100

Growing a highly talented and accomplished team

Prescient has continued to attract talented and experienced people to its team:

  • Appointing internationally renowned cancer and CAR-T expert Professor Phillip Darcy and renowned oncologist and CAR-T pioneer, Professor H. Miles Prince, AM, to its Scientific Advisory Board (SAB).
  • Prescient appointed US-based Dr Dan Shelly, a cell therapy expert, as its VP -Business Development & Alliances, to address enhanced BD activity.
  • Dr Rebecca Lim joined Prescient as Director of Scientific Affairs. Dr Lim is a cell therapy expert and has experience in initiation of several novel cell therapy clinical studies.
  • After the reporting period, PTX onboarded brain cancer surgeon Donald M. O’Rourke to its SAB and Leanne West as its Director of Clinical Affairs.

Furthermore, Prescient also has four full-time researchers at Peter Mac to drive its cell therapy enhancements and OmniCAR programs.

Bottom Line

Prescient Therapeutics is progressing well with its robust clinical development profile. It is currently undertaking several clinical trials that await further promising outcomes. Furthermore, Prescient is backed by highly experienced and skilled officials who will also support the Company’s developing profile in the most exciting field of cancer therapy.

On 31 August 2021, PTX shares were trading at AU$0.192, with a market capitalisation of AU$122.09 million.   

To know more about Prescient Therapeutics Limited, click here.

To stay updated with PTX company activities and announcements, please update your details on their investor centre.

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