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Highlights
Prescient Therapeutics completes Share Purchase Plan to progress PTX-100
Launches placement offer to meet extended funding interest
Clinical trial targets Cutaneous T cell lymphoma with global enrolment open
Prescient Therapeutics Ltd (ASX:PTX), (OTC:PSTTF), a clinical-stage biotechnology company listed on the All Ordinaries, has completed a significant funding round to accelerate its oncology programs. The company raised capital through a Share Purchase Plan, followed by a placement offer aimed at professional and sophisticated participants.
The proceeds will primarily fund Phase 2 clinical trials of its lead drug candidate PTX-100, designed to treat Cutaneous T cell lymphoma (CTCL).
Funding to Drive PTX-100 Clinical Development
The Share Purchase Plan was initiated to strengthen the company's capital position and provide continuity for clinical development. Prescient confirmed the proceeds will be allocated to advancing PTX-100, a targeted therapy that inhibits the cancer growth enzyme geranylgeranyl transferase-1 (GGT-1).
This compound is being evaluated in a Phase 2 study with global enrolment and has received both Orphan Drug Designation and Fast Track status from the US Food and Drug Administration for treatment of relapsed or refractory mycosis fungoides.
Placement Launch Responds to Market Demand
Following strong interest beyond the initial Share Purchase Plan limit, Prescient has launched a placement offer to institutional participants. The company entered a trading halt to execute the placement at the same price offered in the SPP.
This strategic step reflects demand from existing stakeholders and aims to provide financial support for ongoing studies as the company moves closer to clinical milestones.
Expanding Therapeutic Portfolio in Precision Oncology
Prescient Therapeutics is advancing a broad oncology portfolio that extends beyond PTX-100. The pipeline includes several novel platforms:
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CellPryme-M: A T-cell enhancement agent improving immune response and tumour targeting
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CellPryme-A: A CAR-T cell therapy adjuvant improving efficacy in complex tumour environments
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OmniCAR: A universal immune receptor platform designed for modular and controllable CAR-T therapies
These technologies are positioned to support next-generation cell therapies in solid and blood cancers, reinforcing the company’s commitment to personalised medicine.
What is Prescient Therapeutics using the funds for?
The funds raised will support the Phase 2 clinical development of PTX-100 for the treatment of Cutaneous T cell lymphoma.
What type of cancer is PTX-100 targeting?
PTX-100 is being studied for relapsed or refractory mycosis fungoides, a form of Cutaneous T cell lymphoma.
What other programs are in Prescient’s oncology pipeline?
Prescient’s pipeline includes CellPryme-M, CellPryme-A, and OmniCAR, all aimed at advancing personalised and modular cancer therapies.
