- Captor Therapeutics, a biopharmaceutical company developing drugs based on Targeted Protein Degradation (TPD), has applied to the National Centre for Research and Development (NCBiR) for the so-called phasing for projects CT-01 and CT-03 and the possibility of funding the uncompleted phase of research in the next funding cycle.
- At the same time, the company has submitted an application to the NCBiR for completion of the grant agreement for project CT-05 (application of targeted protein degradation technology for the treatment of psoriasis and rheumatoid arthritis), as well as an application for final payment. The Company estimates that it will not be required to repay any funds received and used to date.
Submission of phasing requests
- We are pleased that NCBiR has managed to develop a model of extended funding for our most advanced projects, i.e. CT-01 and CT-03, by re-phasing them. This gives us the opportunity to fund the uncompleted phase of research in the next European funding cycle. There is a lot of interest in our projects and we know how to make effective use of the funds we receive, as we have proven more than once. To date, we have signed funding agreements with NCBiR for a total of approximately PLN 175 million, which has enabled us to consistently achieve further milestones within our projects and develop new drugs, comments Dr Tom Shepherd, CEO of Captor Therapeutics.
The company has submitted phasing requests to NCBiR for projects CT-01 and CT-03, which, according to the current funding agreements, should be completed by the end of 2023. Captor Therapeutics is seeking:
- CT-01 - extension of the project until 31.03.2026, with the amount of funding to be used from 1 January 2024 (i.e. during the extended project period) equal to PLN 6,766,157.95,
- CT-03- extension of the project until 31.07.2026, with the amount of funding to be used from
1 January 2024 (i.e. during the extended project period) equal to PLN 4,976,940.75.
Status of the CT-05 project
At the same time, Captor Therapeutics has decided to submit an application to the NCBiR for the termination of the funding agreement for project CT-05. There have been delays in the implementation of this project, which means that the milestones agreed with the NCBiR would be difficult to achieve within the agreed timeframe. Therefore, the company has abandoned the phasing application for this project and will continue the R&D work using its own resources. The company believes that the application of targeted protein degradation technology for the treatment of psoriasis and rheumatoid arthritis has great potential.
- Our desired solution is to secure an external partner for the CT-05 project. Proof-of-concept results in the acute inflammation model are expected by the end of 2023 and we hope that these will lead to negotiations with large pharmaceutical companies for the commercialisation of the project. The therapeutic indications, i.e. psoriasis and rheumatoid arthritis, represent a very attractive area for pharmacological intervention and, above all, there is a highly unmet market need in this area. Our current focus is on the development of CT-01 and CT-03, and entering the clinic with the CT-01 project will open up entirely new opportunities for us, both in the capital and biotechnology markets, Shepherd concludes.
About Captor Therapeutics:
Captor Therapeutics is a biopharmaceutical company specialising in the development of breakthrough drugs based on Targeted Protein Degradation (TPD) technology for the treatment of diseases with high unmet medical needs. TPD enables innovative approaches to drug development that can focus on novel molecular targets thought to be untreatable using conventional drug development methods and provide new treatments for diseases where existing drugs do not provide optimal therapeutic benefit. Currently, Captor is developing drugs for incurable, severe diseases, including malignancies and autoimmune diseases.
More information on Captor Therapeutics can be found:
On the website: http://www.captortherapeutics.com
LinkedIn: @CaptorTherapeutics
Twitter: @CaptorTherapeu1
