Melbourne-based Cartherics Pty Ltd has announced a successful capital raise, securing over $15 million (AU$15M) in an oversubscribed private financing round. This funding will primarily support the clinical development of CTH-401, Cartherics' lead cell therapy candidate for ovarian cancer, and facilitate the expansion of its therapeutic pipeline.
Advancing CTH-401 Clinical Trials
CTH-401 is a CAR-NK (chimeric antigen receptor natural killer) cell therapy designed to target TAG-72 (tumor-associated glycoprotein 72), an antigen widely expressed in various solid tumors, including ovarian, gastric, colorectal, prostate, and pancreatic cancers. The therapy is unique as the only NK cell product in development that incorporates a CAR targeting TAG-72.
Preclinical studies have demonstrated CTH-401's effectiveness in eradicating ovarian cancer cells in both tissue culture and animal models. Cartherics plans to initiate the first clinical trial for CTH-401 in the coming year, building upon these promising preclinical results.
Addressing Unmet Needs in Ovarian Cancer
Despite advancements in surgical and chemotherapy treatments, ovarian cancer survival rates remain low, primarily due to late diagnosis and limited options for patients who are refractory to approved therapies. This highlights the urgent need for innovative treatment approaches.
Professor Alan Trounson AO, CEO of Cartherics, stated, "The successful capital raising, in times of scant investment support in biotechnology, is welcome and further supports confidence in the company for the delivery of effective therapies in ovarian cancer and other difficult diseases."
Cartherics' Approach to Cell Therapy
Cartherics is developing a portfolio of CAR-T and CAR-NK cell products using an allogeneic ("off-the-shelf") cell platform. This platform utilizes induced pluripotent stem cells (iPSCs) derived from donated cord blood, which can be differentiated into NK cells, T cells, and other immune system cells. These iPSCs are genetically engineered at specific "safe harbor" genomic sites to enhance the function of the derived immune cells. CTH-401, the company's lead CAR-NK cell product, incorporates a CAR directed against TAG-72, along with the deletion of two genes associated with immunosuppression.
Market Growth in Cell Therapies
The global market for ovarian cancer drugs is substantial, estimated at US$3.5 billion in 2023 and projected to reach US$4.8 billion by 2030. The natural killer cell therapeutics market is also experiencing significant growth, valued at US$350.5 million in 2024 and projected to reach US$11.4 billion by 2034, with a CAGR of 41.70%.
Bob Moses, Chairman of Cartherics, commented, "We are eager to start the CTH-401 clinical trial, building on promising preclinical results. This milestone reflects our commitment to innovative ovarian cancer treatments and our investors’ confidence in our vision to improve patient outcomes and drive growth."
