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Market Update and Additional A$618k R&D Tax RefundMELBOURNE, Australia, March 11, 2020 (GLOBE NEWSWIRE) -- Cynata Therapeutics Limited (ASX: CYP), a clinical-stage biotechnology company specialising in cell therapeutics, is pleased to announce that it has received an additional A$618,667 R&D Tax Incentive Refund for the 2018/2019 financial year and to provide a market update on other activities. Key highlights
R&D Tax incentive rebate This additional cash injection extends Cynata’s cash balance, and enables further resources to be invested towards Cynata’s robust Phase 2 clinical trial programs for CLI and osteoarthritis, alongside the anticipated Phase 2 trial for CYP-001 in graft-versus-host disease (GvHD) which is to be conducted by FUJIFILM. COVID-19 Update Additionally, Cynata is responding to enquiries and is in active discussions with intrnational pharmaceutical companies and other parties about the potential of its Cymerus MSCs to be a useful adjunct in the management of patients with serious and ongoing issues associated with COVID-19 infection. COVID-19 has been shown to cause conditions including acute respiratory distress syndrome (ARDS), sepsis and cytokine release syndrome (CRS), indications where Cynata has previously demonstrated utility of its Cymerus MSCs in preclinical studies. Of direct relevance are observations in these preclinical studies that Cynata’s Cymerus MSCs significantly reduce levels of pro-inflammatory cytokines and increase both anti-inflammatory proteins and regulatory T cells1. The potential of MSCs for treating the consequences of COVID-19 is underpinned by very recent clinical results in China, suggesting that MSCs may protect against serious outcomes of the infection, particularly pneumonia. Critically ill COVID-19 patients in China favourably responded to treatment with MSCs in a clinical study2. Strengthened IP protection Outlook In addition, the osteoarthritis Phase 2 trial planning is in the final stages toward commencement, with the expectation that this major trial will begin enrolling patients in the near term. This 448-patient study is substantially funded by the Australian National Health and Medical Research Council (NHMRC) and is expected to be conducted at study centers in Sydney and Tasmania. Authorised for release by Dr Ross Macdonald, Managing Director & CEO
About Cynata Therapeutics (ASX: CYP) Cynata’s lead product candidate CYP-001 met all clinical endpoints and demonstrated positive safety and efficacy data for the treatment of steroid-resistant acute graft-versus-host disease (GvHD) in a Phase 1 trial. Cynata plans to advance its Cymerus™ MSCs into Phase 2 trials for GvHD, critical limb ischemia and osteoarthritis. In addition, Cynata has demonstrated utility of its Cymerus MSC technology in preclinical models of asthma, diabetic wounds, sepsis, heart attack and cytokine release syndrome, a life-threatening condition stemming from cancer immunotherapy. 1 Khan M, et al. Stem Cell Res Ther. 2019 Sep 23;10(1):290. doi: 10.1186/s13287-019-1397-4. Ozay E, et al. Stem Cell Res. 2019 Mar;35:101401. doi: 10.1016/j.scr.2019.101401 2 Leng Z, et al. Transplantation of ACE2- Mesenchymal Stem Cells Improves the Outcome of Patients with COVID-19 Pneumonia. Aging and Disease, 10.14336/AD.2020.0228 |