SINGAPORE, May 11, 2023
/PRNewswire/ -- CytoMed Therapeutics Limited ("CytoMed" or the
"Company") (Nasdaq: GDTC), a biopharmaceutical company focused on
harnessing its licensed proprietary technologies to create novel
allogeneic cell-based immunotherapies for the treatment of human
cancers, will commemorate the closing of its initial public
offering ("IPO") on April 18,
2023, by ringing the closing
bell at Nasdaq this afternoon.
CytoMed was formed in 2018, when it was spun off from
Singapore's leading public
Research and Development agency, the Agency for Science,
Technology, and Research, or A*STAR, with a mission to produce more
effective and affordable cellular immunotherapies for a wide range
of solid and blood-based cancers. Cellular immunotherapies harness
the immune system's ability to target and destroy cancer cells and
offer a potentially life-changing option for patients where
traditional approaches such as chemotherapy and radiation have
failed. These therapies have historically been extremely expensive
and complex to manufacture and administer. They have been designed
on a patient-by-patient basis using the specific cancer patient's
own blood cells and typically only target the receptors of one
specific cancer cell.
CytoMed's manufacturing process utilizes noninvasive blood draws
from healthy donors to create scalable, "off-the-shelf" therapies
that are allogenic, naturally expressing an array of built-in
receptors to recognize a multitude of cancers that are expected to
be effective for a spectrum of patients without the need for
expensive matching. The standardized process and broad application
should allow for a more affordable treatment option for patients
and may also reduce the risk of "on-target, off-cancer" side
effects. The leading therapeutic clinical candidate leverages
chimeric antigen receptor (CAR) gamma delta t cells and has been
engineered to target cancers in a broad range of blood-based and
solid cancers. Currently available chimeric antigen receptor
t-cells (CAR T-Cell) therapies are being used to treat hematologic
cancers but have not yet been successfully adapted for the
treatment of solid cancers. CytoMed hopes to be able to change
that.
"Our ability to drive innovation is a testament to Singapore's support for cutting-edge life
science research, the resourcefulness of this management team, and
our dedication to provide a better quality of life for those facing
life-threatening diseases," said Peter Choo
Chee Kong, Chairman of CytoMed, "While we are a small
company today, our ambition is to revolutionize the impact of
cellular immunotherapies and extend human life."
The completion of the Company's IPO and listing on Nasdaq is a
critical step in the Company's development. The proceeds from the
IPO are intended to be used by CytoMed to advance CTM-N2D through
Phase I trials and the initiation of a Phase II clinical trial and
to continue development of its other two therapeutic platforms,
iPSC-gdNKT and CTM-GDT. CytoMed anticipates that being a
publicly listed company will raise its profile with international
partners.
About CytoMed
Incorporated in 2018, CytoMed was spun off from the Agency for
Science, Technology and Research (A*STAR), Singapore's national research and development
agency in the public sector. CytoMed is a biopharmaceutical
company focused on harnessing its licensed proprietary technologies
to create novel cell-based immunotherapies for the treatment of
human cancers. The development of novel technologies has been
inspired by the clinical success of existing CAR T-Cell therapy in
treating hematological malignancies as well as the current clinical
limitations and commercial challenges in extrapolating the CAR
T-Cell therapy principle into treatment of solid tumors. For more
information about CytoMed, please visit www.cytomed.sg.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward- looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's plans to develop and commercialize its
product candidates; the initiation, timing, progress and results of
the Company's current and future pre-clinical studies and clinical
trials and the Company's R&D programs; the Company's
expectations regarding the impact of the ongoing COVID-19 pandemic
on its business, the Company's industry and the economy; the
Company's estimates regarding expenses, future revenue, capital
requirements and needs for additional financing; the Company's
ability to successfully acquire or obtain licenses for additional
product candidates on reasonable terms; the Company's ability to
establish and maintain collaborations and/or obtain additional
funding and assumptions underlying or related to any of the
foregoing and other risks contained in reports filed by the Company
with the SEC. For these reasons, among others, investors are
cautioned not to place undue reliance upon any forward-looking
statements in this press release. Additional factors are discussed
in the Company's filings with the SEC, which are available for
review at www.sec.gov. The Company undertakes no obligation to
publicly revise these forward-looking statements to reflect events
or circumstances that arise after the date hereof.
Contacts:
Investors:
CytoMed Therapeutics Limited
Email: enquiry@cytomed.sg
Investor Relations:
Crocker Coulson, CEO, AUM Media
+1 (646) 652-7185
crocker.coulson@aummedia.org
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SOURCE CytoMed Therapeutics
