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Founded Year

1993

Stage

Acquired | Acquired

Total Raised

$17.1M

Valuation

$0000 

About CytoMed

We research and design products containing CoQ10 and natural ingredients for health maintenance and specific problems such as heart health, blood sugar, weight management, low energy syndromes, and joint pain

Headquarters Location

840 Memorial Drive

Cambridge, Massachusetts, 02139,

United States

617-661-3400

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Latest CytoMed News

Abbisko Sells China Rights for CSF-1R Inhibitor in $605 Million Deal to Germany’s Merck

Dec 9, 2023

publication date: Dec 9, 2023  | Deals and Financings Shanghai Abbisko Therapeutics has sold greater China commercialization rights for pimicotinib, a small molecule CSF-1R inhibitor, to Germany’s Merck in a $605 million deal, including $70 million upfront (see story ). Abbisko is currently conducting a global Phase III trial of pimicotinib in patients with tenosynovial giant cell tumor (TGCT), a benign tumor that can cause painful joint swelling and stiffness. Merck will pay an additional upfront fee if it decides to exercise an option for global rights to pimicotinib. Merck also has the option to co-develop pimicotinib in additional indications. Xtalpi, a China-US AI drug discovery company, has filed for a Hong Kong IPO (see story ). The company’s quantum physics-based, AI-powered, and robotics-driven platform offers a complete suite of services for companies seeking small molecule or biologics discovery. Xtalpi claims to be the largest AI discovery company based on funds raised: since its 2015 start, it has raised $780 million in venture capital, including a $400 million Series D round in 2021 that valued the company at $2 billion. Boston is the company’s headquarters for BD, though its discovery operations are in Shenzhen, Shanghai and Beijing. Aspen Pharmacare of South Africa will expand its China operations by acquiring Sandoz’s China business for $100 million plus $20 million in revenue milestones for the portfolio (see story ). In return, Aspen will sell European rights to four anesthetic products to Sandoz for $60 million plus $10 million if sales meet targets. After the agreement closes, Aspen will have rights to Sandostatin, Aclasta and Voriconazole plus a pipeline of products that will be available in China in the medium term. Aspen expects the China products will add $60 million to its revenues, while it will lose $15 million from its European sales. Adcentrx Therapeutics, a San Diego-Shanghai ADC biotech, added $13 million to the Series A+ funding announced earlier this year, bringing the total to $51 million for the round (see story) . The company’s lead drug is an ADC targeting Nectin-4, a cell surface adhesion protein over-expressed in multiple human cancers and associated with poor disease prognosis. ADRX-0706 is currently being tested in a US Phase Ia/b clinical trial. Adcentrx said the additional funds will extend its runway into 2025 and accelerate development of the company’s portfolio. The Series A+ extension included participation from Quan Capital and Partners Investment. AbelZeta Pharma, a Maryland-Shanghai CAR-T company, will co-develop C-CAR031 in China with AstraZeneca (see story ). C-CAR031 is an autologous, armored GPC3-targeting CAR-T therapy aimed at treating hepatocellular carcinoma (HCC). The candidate was designed by AstraZeneca and is manufactured by AbelZeta in China. AbleZeta was previously known as CBMG, but it has sold its portfolio of stem cell drugs that is now developing a portfolio of 10 CAR-T candidates. When CBMG changed its focus to CAR-T, Janssen announced a $250 million upfront deal for a CAR-T and AstraZeneca invested $120 million in the company. Suzhou Innovent Biologics (HK: 01801) will expand its partnership with Synaffix, a Lonza company (SIX:LONN), using the company’s technology to develop at least one antibody-drug conjugate (ADC) candidate (see story ). In 2021, Innovent employed Synaffix's ADC technologies to develop IBI343, a CLDN18.2 ADC, which is now in a Phase 1 trial. Innovent will be responsible for all development for the new new ADC candidates, while Synaffix is eligible to receive an upfront payment plus potential milestones and royalties on commercial sales for each licensed target. Details were not disclosed. Earlier this year, Lonza paid 100 million euros to acquire Synaffix, an Amsterdam company. Company News Trading in WuXi Biologics (HK: 2289) was stopped Monday after its shares dropped 24% to HK$33.15 following the company’s investor presentation that predicted lower revenues and profits for 2023’s second half (see story ). The company said it would not meet a 30% target for 2023 revenue growth. Its new development agreements are lower by 40 projects, causing a drop of US$300 million, while delays in regulatory approvals will lower manufacturing revenues by US$100 million. Longer term, the CRDMO expects its revenues from Research projects will flatten out, while most of its growth will come from Development and Manufacturing services. Trials and Approvals 280Bio has treated the first patient with TEB-17231, a small molecule inhibitor of RAS signaling being tested in solid tumor cancers with KRAS, NRS and HRAS alterations (see story ). 280Bio, a precision oncology company located in South San Francisco, is a wholly owned subsidiary of Shanghai Yingli Pharma. In preclinical trials, TEB-17231 showed potent inhibition of tumor cell proliferation, demonstrating activity with different KRAS, NRAS and HRAS alterations, including tumors that have become resistant to KRAS G12C inhibitors. TEB-17231 is being developed in collaboration with The University of Texas MD Anderson Cancer Center. Jiangsu Ractigen Therapeutics filed an IND in Australia to start clinical trials of its lead small acting RNA (saRNA) product in patients with non-muscle-invasive bladder cancer who did not respond to Bacillus Calmette-Guérin therapy (see story ). RAG-01 targets and activates the tumor suppressor gene p21. The Phase Ⅰ, open-label, multi-center study will evaluate the safety, tolerability, pharmacokinetics and preliminary efficacy of RAG-01, which is Ractigen’s first clinical stage product and the first saRNA candidate from a Chinese company to start trials. Singapore’s CytoMed announced plans to conduct Investigator Initiated Trials in China of its allogeneic gamma delta T cells as therapies for solid tumor cancers (see story ). The company will collaborate with CytoMed China, a Hong Kong company that (despite its name) is owned by third parties, to conduct the trials in Chongqing, loaning the company $1 million over three years to oversee the test. If the trials are successful, CytoMed will acquire the China operation. CytoMed was spun out from Singapore’s A*STAR to develop cell therapies based on gamma delta T cells and gamma delta Natural Killer T cells in-licensed from A*STAR. Disclosure: none.

CytoMed Frequently Asked Questions (FAQ)

  • When was CytoMed founded?

    CytoMed was founded in 1993.

  • Where is CytoMed's headquarters?

    CytoMed's headquarters is located at 840 Memorial Drive, Cambridge.

  • What is CytoMed's latest funding round?

    CytoMed's latest funding round is Acquired.

  • How much did CytoMed raise?

    CytoMed raised a total of $17.1M.

  • Who are the investors of CytoMed?

    Investors of CytoMed include Leukosite, Weiss Peck & Greer Investments, C.I.P. Capital, Atlas Venture, SV Health Investors and 7 more.

  • Who are CytoMed's competitors?

    Competitors of CytoMed include Perseus Proteomics, Afferent Pharmaceuticals, NeurAxon, Proteon Therapeutics, EndGenitor Technologies and 7 more.

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