Wrocław, Poland, March 6, 2023. - Captor Therapeutics S.A. (“Captor”) (WSE:CTX), a leader in the development of Targeted Protein Degradation (TPD)-based drugs, today announced its strategic objectives for the period 2023 to 2025 aimed at building a clinical stage, major international player in the rapidly growing TPD space.
The 2023-2025 plan builds on the excellent progress made over the last 18 months with Captor’s two lead pipeline assets as well as major advances in the OptigradeTM TPD platform. Captor's fully-owned lead assets are in IND-enabling studies and have both demonstrated compelling efficacy in animal models of hepatocellular cancer and haematological malignancies respectively.
Regarding the OptigradeTM platform, recent breakthroughs related to the development of high affinity ligands targeting novel E3 ubiquitin ligases, understanding these ligases’ 3D architecture at high resolution atomic level, and new highly potent degraders (pico-molar degradation potency), are laying the foundation for a next generation degrader pipeline. The capabilities of the OptigradeTM platform were further validated by the signature late last year of a significant collaboration with Ono Pharmaceutical Co., Ltd. to develop novel degraders against a neurodegeneration target.
Dr. Tom Shepherd, CEO of Captor Therapeutics, said: “We have made great progress with taking our highly differentiated pipeline toward the clinic, keeping our TPD platform at the cutting edge of developments in the field, and signing a major strategic collaboration. Since our IPO in 2021, these advances have allowed Captor to come through the recently challenging Biotech market much better than most European and US Biotech companies. We have set an ambitious plan to fast forward the development of our pipeline and take two assets into the clinic, balancing risk and reward and allowing maximal growth in company value. We look forward to embarking on this journey with our current and future partners and shareholders.”
The main strands to the 2023-2025 plan are:
- Initiate the clinical development by Captor of its advanced projects CT-01 (Hepatocellular carcinoma) and CT-03 (hematological malignancies) in 2023 and 2024 respectively, with clinical data readouts in 2024 and 2025.
- Advance Captor's early pipeline assets in inflammation (CT-02, CT-05) to in-vivo proof of efficacy in 2023 as a prelude to collaborative development.
- Deepen and expand the OptigradeTM platform through degrading targets with high clinical potential by leveraging Captor's novel E3 ligase ligands and expanding the use of high potency degraders into the antibody drug conjugate space. Fully exploit the partnering opportunities that these technology developments provide.
- Build on Captor's solid European listing and investor base to attract US investors, potentially culminating in a US NASDAQ presence (through an ADR or direct listing), subject to favorable capital market conditions.
Michał Walczak, CSO of Captor Therapeutics, said: "The field of Targeted Protein Degradation is advancing rapidly, with 18 degraders currently in clinical development to address life-threatening and life-impairing diseases. We are thrilled with the exceptional pre-clinical efficacy shown in the CT-01 and CT-03 projects as we take these programs to the clinic to provide superior care for cancer patients. Our team diligently monitors advancements in the TPD domain, and we are confident in our world-class group of experts in protein, structure, engineering, and biophysics who are pioneering the discovery of novel E3 ligases.”
In the budget for 2023-2025, the company anticipates spending approximately USD 74m and assumes that the above strategic expenditures will be financed by existing cash, committed grants, reimbursement from existing collaborations and at the appropriate time, raising additional capital. In advance of any capital raising, Captor is seeking approval from it’s shareholders to introduce the authorised share capital. Introducing the authorised share capital in advance of any capital raising will provide Captor with the flexibility to optimize the timing and take advantage of opportunities in the market as they arise. In keeping with Captor’s global ambitions, the authorised share capital may be used to raise financing on the international capital markets and/or on the domestic market in Poland. Captor has appointed Wedbush Securities Inc., a US-based investment banking firm specialised in healthcare, to assist the company in evaluating the market situation and considering options for raising financing.
Radosław Krawczyk, CFO of Captor Therapeutics, said: "Accessing the global capital markets and, in particular, investors in the US, is an important aspect of our three-year strategic objectives. Such expansion of our shareholder base, potentially culminating in a presence on NASDAQ, will complement our existing, well-supported position on the Warsaw Stock Exchange. The 2023-2025 plan involves Captor transitioning to a clinical stage company and, as such, will require some additional financing requirements, but we expect limited dilution in exchange for transforming the increased international credibility and global recognition of Captor into more value for our existing shareholders in the years to come."
About Captor Therapeutics
Captor Therapeutics is a drug discovery and development company applying targeted protein degradation (TPD) technology to discover and develop breakthrough drugs for diseases with significant unmet medical need. TPD is a revolutionary approach to developing new drugs that can target new molecular targets considered undruggable" using classical drug modalities and provide additional treatment options for diseases whereexisting drugs do not provide optimal treatment. Captor is currently developing treatments for undertreated serious conditions, including cancer and autoimmune diseases.
For more information on Captor Therapeutics, visit: http://www.captortherapeutics.com LinkedIn: @CaptorTherapeutics
Twitter: @CaptorTherapeu1
Media and investor contacts:
|
Polish Media and Investor Relations: Point of View Bartosz Sawulski +48 694 400 787 |
International Investor Relations: LifeSci Advisors Guillaume van Renterghem +41 (0)76 735 01 31 |
