The deal provides the ideal platform for Prescient to develop its OmniCAR product suite as part of broader CAR-T cancer treatment pathways.
Biotech company Prescient Therapeutics (ASX:PTX) had an important announcement for the market this morning, after strengthening its ties in research and development with the world-renowned Peter MacCallum Cancer Centre (Peter Mac).
Based in Melbourne, the Peter Mac centre is at the cutting edge of research and manufacturing advancements in CAR-T therapies – considered a breakthrough treatment in the fight against cancer.
The deal will see PTX get direct access to world-class facilities and a team of CAR-T experts led by Professor Phil Darcy, who will assist in the pre-clinical development of Prescient’s OmniCAR programs.
In that context, extending its partnership with the Peter Mac centre provides the ideal environment for further development of its next-generation OmniCAR programs.
Prescient is currently developing three OmniCAR platforms used in the treatment of acute myeloid leukaemia (AML), Her2+ solid tumours and glioblastoma multiforme (GBM) – an aggressive form of cancer that usually begins in the brain.
The company is developing OminCAR “as a next generation CAR-T platform, capable of being deployed by other CAR-T and oncology companies under licence to advance their own programmes”.
Known as Chimeric Antigen Receptor T-cells, CAR-T cells are specifically engineered to hunt and destroy abnormal cells, including cancerous cells.
And as part of its agreement with Peter Mac, it will now have two post-doctoral scientists and two research assistants working full-time on the development of its research suite.
“Prescient has also secured grant funding of $100,000 from the Federal Government’s Innovation Connections scheme towards this research,” the company highlighted.
For Darcy, the use of Prescient’s OmniCAR treatment presents a pathway to achieve the replication of breakthrough CAR-T treatments in solid tumours.
“We are excited by the opportunity and potential offered by the OmniCAR platform to make headway into solid tumours and other blood cancers, and to greatly enhance and improve the clinical control and efficacy of existing CAR-T cancer therapies,” Darcy said.
While PTX will get access to the Peter Mac centre’s leading team of researchers and scientists, it will fully own any intellectual property that arises from work carried out.
Prescient managing director Steven Yatomi-Clarke said the deal is reflective of the company’s strong medical networks, as it builds out its OmniCAR research programs “to the highest standard”.
“This latest research program is an important part of Prescient’s development plans, which include institutional and commercial laboratories,” he said.
“We continue to work very closely with Professor Darcy and the team at Peter Mac, as we progress this exciting development of controllable and adaptable next generation CAR-T therapies.”
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.
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Barry Stroman was a reporter for Zerg Watch, before becoming the lead editor. Barry has previously worked for Wired, MacWorld, PCWorld, and VentureBeat covering countless stories concerning all things related to tech and science. Barry studied at NYU.