An Aussie biotech company that develops personalised therapies to treat cancer says it has reached “a promising point in its evolution”, accentuated by a positive June quarter.

Prescient Therapeutics (ASX: PTX) – which sits at the forefront of the current revolution in oncology, the largest sector in healthcare at US$280 billion globally – is in a strong cash position and has multiple cancer treatment programs now reporting favourable progress.

CEO and MD Steven Yatomi-Clarke says it is this diversified portfolio approach to therapy development that differentiates the company from so many other biotechs.

“We are not a one-trick pony, either in the types of cancers we treat, how we treat them or the stages of development of our programs,” Mr Yatomi-Clarke told Reach Markets’ Biotech Special Event webinar last week.

“From an investor perspective, this means risk mitigation and far greater potential for value creation. We have the pipeline of a much bigger company, and it’s still growing.”

Prescient’s primary focus is on developing its platform technologies OmniCAR and CellPryme-M in the emerging field of CAR-T therapy, which has already achieved success against certain blood cancers; and its targeted therapies PTX-100 and PTX-200, which are in clinical trials and delivering encouraging results.

“Platforms can be more significant than products because they have the potential to yield many products, targeting multiple diseases simultaneously,” Mr Yatomi-Clarke said.

“And because they can benefit many external parties, we have the potential to monetise them a lot sooner.”

Progress on multiple fronts through June quarter

Prescient ended the June 2022 quarter with a cash balance of $12.3 million and reported total cash outflows for the quarter of $1.2 million, of which $500,000 was invested in R&D in Australia and the US.

An important milestone during the reporting period was the unveiling of the CellPryme-M platform, an advanced technology that had been in development in stealth mode while data was generated and patents filed. This platform was developed in collaboration with the renowned Peter MacCallum Cancer Centre in Melbourne.

This month has delivered further positive news, with the US Food and Drug Administration approving a valuable Orphan Drug Designation for PTX-100, and the granting of a US patent for a key component of its flagship OmniCAR platform providing protection out to 2039.

Prescient Therapeutics CEO and MD Steven Yatomi-Clarke will be hosting a live investor briefing on Thursday, 28th July, at 12pm (AEST) to provide further detail on the company’s recent successes and progress. Click here to register.

Reach Markets has been engaged by Prescient Therapeutics Limited to assist with their investor communications and may receive fees for its services.

Sources:

• Prescient Therapeutics ASX Announcements, June 2022 Quarterly Update