Wrocław, Poland, September 2nd 2022 r. - Captor Therapeutics S.A. (WSE:CTX), a biopharmaceutical company dedicated to the development of Targeted Protein Degradation (TPD)-based drugs for the treatment for cancer and autoimmune diseases, has released the report for the first half of 2022. During this period, the Company has made substantial progress in R&D while maintaining a financial stability that allows it to carry out all projects in line with the planned schedule as well as to accelerate the preparatory work for the commencement of clinical trials in the company's flagship CT-01 project.
Captor Therapeutics has achieved significant milestones in the company's flagship projects CT-01 and CT-03 during the reported period. In the CT-01 project, additional in vivo studies have been obtained, which confirm the potent antitumor activity of the drug candidate in a liver cancer mouse xenograft model, after oral administration. In addition, in August this year, it was announced that the molecular glue CPT-6281 was nominated as drug candidate in the CT-01 project and the first in a series of IND- enabling studies has commenced, which brings the Company significantly closer to enter clinical phase next year.
In February this year, Captor Therapeutics has also announced significant scientific progress in the CT-03 project,focused on the development of drugs to treat several types of cancers by degrading the MCL-1 protein target The results of a proof-of-concept study completed by an independent subcontractor demonstrated that the CT-03 lead compound causes the effective degradation of the MCL-1 target in human tumour cells implanted in mice, induce apoptosis in these cells, resulting in the shrinkage or regression of the tumour.
We are pleased to announce further progress in the development of our project pipeline, as it is a testament to the hard work and effectiveness of the team of specialists working at Captor Therapeutics. As we achieve these milestones, we confirm the underlying potential of our technology and move closer to initiating the process of clinical trials in the Company's flagship projects," commented Dr Michał Walczak, Member of the Management Board and Chief Scientific Officer of Captor Therapeutics.
The R&D work carried out by Captor Therapeutics has attracted a lot of interest from the pharmaceutical industry and from investors, who have been closely following these TPD technology-led projects. In the past six months, representatives of the company were invited to present at several industry conferences (such as the LSX World Congress, the Annual Targeted Protein Degradation Europe Summit, and the Wedbush Pacgrow Healthcare Conference), to present the unique products and technologies Captor is developing.
Based on the positive results being announced in the area of TPD we believe it has the potential to revolutionize the pharmaceutical industry and contribute to the development of effective drugs to treat severe diseases where satisfactory treatments do not exist As one of the leading companies in the TPD field, Captor Therapeutics has become a subject of interest for big-pharma companies and investors. This gives us the opportunity for different pathways to develop and commercialize our technology," said Dr. Tom Shepherd, Chief Executive Officer of Captor Therapeutics.
The company's revenue, amounting to PLN 2,227 thousand (up from PLN 1,454 thousand in the first half of the previous year), comes from the cooperation project, established in 2020, with Sosei Heptares. This is evidence for the company and the entire biopharmaceutical market that Captor Therapeutics is highly capable of establishing further partnerships.
We plan to enter clinical phase of the development as early as next year, as well as proceed with the next stages of development of our pipeline projects, therefore we are glad to have a stable financial position with sufficient secured financing for these undertakings. This is essential, especially at a time when financial markets around the world, including the biotech market, are under pressure from negative macroeconomic factors like inflation and the associated increase in costs, or a change in investment dynamics," commented Radosław Krawczyk, Member of the Board and Chief Financial Officer of Captor Therapeutics.
About Captor Therapeutics
Captor Therapeutics is a biopharmaceutical company dedicated to using targeted protein degradation (TPD) technology to discover and develop breakthrough drugs for diseases deemed as medically uncurable. TPD is a revolutionary approach to developing new drugs that can target new molecular targets considered "untreatable" using classical drug development methods and provide additional treatment options for diseases where existing drugs do not provide optimal medical benefit. Captor is currently developing treatments for undertreated serious conditions, including malignancies and autoimmune diseases.
For more information on Captor Therapeutics, visit: http://www.captortherapeutics.com
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