Prescient shares rip higher as immunogenicity testing results for OmniCAR ‘could not have been better’
Health & Biotech
Health & Biotech
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The results significantly de-risk the project as PTX continues development of its OmniCAR platform.
As it builds out its OmniCAR cancer treatment platform, clinical stage oncology company Prescient Therapeutics (ASX:PTX) has updated investors with a run of positive news flow in recent weeks.
And that run continued this morning as PTX announced strong results upon completion of its in silico (computer simulated) immunogenicity testing program.
The testing program was carried out on SpyTag and SpyCatcher – Prescient’s two proprietary components that bind cancer-fighting T-cells with a targeting ligand in order to target specific proteins.
Investors responded to the update, sending shares in PTX more than 13 per cent higher in morning trade to 26c.
“Immunogenicity testing evaluates the body’s immune response against a new therapy, which can adversely affect safety and efficacy”, PTX explained.
In that context, the immunogenicity results for SpyTag and SpyCatcher “could not have been better”, CEO Steven Yatomi-Clarke said.
The immunogenicity levels were “lower than a panel of humanised therapeutic antibodies already approved for human use”, an equivalent to existing antibodies produced naturally by the human body.
“In short, it gives us confidence that if these therapies are ultimately delivered to patients, that their immune systems will not impair the therapy itself,” Yatomi-Clarke said.
That marks a key step forward not only for the development of Prescient’s three in-house OmniCAR programs, but also for potential partners and collaborators that want to licence the OmniCAR platform.
“These results substantially de-risk the entire platform and are important for progressing Prescient’s in-house programs and external collaborations with OmniCAR,” Prescient said.
The immunogenicity results follow on from a key manufacturing milestone last month, when Prescient announced production was complete for a range of binders that target multiple cancers.
And today’s update confirms the PTX management team continues to execute on both its in-house CAR-T treatment and the OmniCAR licensing platform.
The company is developing OmniCAR programs for the treatment of myeloid leukemia; Her2+ solid tumours (including breast, ovarian and gastric cancers), and glioblastoma multiforme (the most common form of brain cancer).
Development remains ongoing at the world-leading Peter MacCallum cancer research centre in Melbourne.
This article was developed in collaboration with Prescient Therapeutics, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.