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Prescient ends June quarter with notable progress in cancer programs and a healthy financial position

Summary

  • Prescient Therapeutics’ June 2021 quarter was marked by the significant progress made across its cancer programs. The Company ended the period in a healthy financial position.
  • During the quarter, Prescient entered into a crucial research partnership with Peter MacCallum Cancer Centre (Peter Mac) to advance its next-generation CAR-T therapy.
  • The biotech firm continues to make considerable progress in developing its targeted anticancer drugs - PTX-100 and PTX-200.
  • The Company’s strong cash balance will further drive the development of its cancer programs.

Clinical-stage oncology firm Prescient Therapeutics Limited (ASX:PTX) has announced its June 2021 results, marked by impressive progress in its cancer programs and a robust financial position to support and drive further clinical development. Notably, the Company ended the quarter with a healthy cash balance of AU$16.1 million.

As the Company continues to advance the development of its targeted cancer therapies, a strong cash position, coupled with prudent financial management, would help Prescient aim for several value-generating milestones.

Prescient-Peter Mac research partnership

Prescient and Peter MacCallum Cancer Centre (Peter Mac) entered into a crucial research partnership to advance PTX’s next-generation CAR-T therapy using the OmniCAR platform. The collaboration builds on an earlier agreement between the two parties, announced in August 2020 and will now include OmniCAR. International CAR-T expert Professor Phil Darcy is leading PTX’s work in the CAR-T space.

RELATED: Prescient Therapeutics inks new deal with Peter Mac to rev up its OmniCAR programs

It is worth mentioning that Prescient would own any resulting intellectual property (IP) from this research partnership. The Company has also secured a grant funding worth AU$100K from the Innovation Connections scheme of the Australian Federal Government for this vital research.

After the June quarter, Prescient hit another major milestone, having confirmed the non-immunogenic profile of key components of the OmniCAR platform. The firm conducted immunogenicity testing to assess the immune response against OmniCAR’s components - SpyTag and SpyCatcher, which demonstrated positive responses.

The results showed both SpyTag and SpyCatcher have incredibly low predicted immunogenicity compared to a panel of humanised therapeutic antibodies already approved for human use.

Source: PTX Update, 5 July 2021

TO KNOW MORE, DO READ: Positive results from immunogenicity testing send Prescient’s shares higher

Consolidation of Cell Therapy Enhancement programs

Prescient has been undertaking Cell Therapy Enhancement (CTE) programs at Carina Biotech as well as Peter Mac. During the quarter, the Company consolidated these two programs, which are now being undertaken at Peter Mac, another testament to the growing relationship between the two parties.

Prescient also expressed its gratitude to Carina Biotech and its partners at the University of Adelaide for their contribution to the collaboration.

Progress of PTX’s targeted therapies - PTX-100 & PTX-200

During the quarter, Prescient’s targeted therapy studies for PTX-100 and PTX-200 continued making excellent progress and enrolled patients without any reported safety issues.

On 23 April 2021, the Company reported that its Phase 1b study of PTX-200 and cytarabine in acute myeloid leukemia (AML) patients had completed the second cohort at a dose level of 35 mg/m2 under a modified study protocol, with no safety or toxicity-related issues observed. The study is now progressing at the higher dose level of 45 mg/m2, and Prescient anticipates providing updates in the upcoming months.

RELATED ARTICLE: Prescient Therapeutics’ (ASX:PTX) AML trial progresses to next dosing level

After the June quarter, the Company announced that the Phase 1b basket trial of PTX-100 in a mix of solid and haematological cancers had completed patient recruitment for the highest dose level of 2,000 mg/m2 without any safety issues reported.

As highlighted on 27 July 2021, PTX-100 was well-tolerated and exhibited an excellent safety profile in Phase 1b basket trial without any related serious adverse events. These findings have encouraged Prescient and Professor H. Miles Prince, principal investigator of the study, to conduct a new expansion study with up to 12 patients with T-cell lymphoma. Prescient looks forward to providing further details about the exciting development in the coming months.

TO KNOW MORE, DO READ: Prescient takes its PTX-100 trial to next level after Phase 1b success

Overall, Prescient has been making great strides in developing multiple cancer programs to treat challenging cancers with unmet medical needs. The Company is thankful to all its shareholders for their support and looks forward to updating them as it works to bring effective, innovative personalised cancer therapies to clinicians and patients who need them.

On 3 August 2021, PTX shares were trading at AU$0.175 (at 3:31 PM AEST).

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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