Cbio A/S Launches 2023 Report with DKK40M Funding for Clinical Trials

In 2023, Cbio A/S, a biopharmaceutical firm based in Copenhagen, achieved significant milestones in advancing its novel T-cell therapy, novoleucel, for the treatment of solid tumors. The company successfully completed the preclinical development phase of this innovative therapy, which is poised to enter a phase I/II clinical trial at the prestigious Karolinska Institute. This trial will involve the treatment of 20 patients suffering from advanced cervical cancer, marking a pivotal step in the company's journey towards clinical validation.

Cbio's CEO, Ulrik Cordes, emphasized the importance of the upcoming clinical trial in 2024, which is set to be a key value driver for the company. He expressed Cbio's commitment to leading the T-cell therapy field and its mission to revolutionize cancer treatment. The company's REVITA™ platform has also demonstrated promising results in preclinical studies for kidney, ovarian, and pancreatic cancers, in partnership with Odense University Hospital.

Cbio has bolstered its intellectual property portfolio with the European Patent Office's intention to grant a patent for its foundational T-cell technology. Additionally, the company has acquired a crucial T-cell therapy technology from Karolinska, which enhances T-cells' ability to combat oxidative stress—a common mechanism used by cancers to evade the immune system, particularly in gynecological cancers.

Financially, Cbio secured DKK 28 million from Innovation Fund Denmark and DKK 12 million in equity investments from both new and existing shareholders. This funding supports the company's operations through to 2026 and the completion of the Karolinska clinical trial.

The company's financial report for the full year of 2023 reflects a controlled expenditure rate, with a loss of DKK 621,556, aligning with projected financial burn. The balance sheet indicates a solid equity position of DKK 5,743,164.

Cbio A/S is dedicated to enhancing patient outcomes for those afflicted with late-stage cancers by making T-cell therapies accessible globally. The company's proprietary technology stands out in the field, offering the potential for transformative treatments.

Cbio's operations involve meticulous processes, such as the careful handling of tumor tissue by cleanroom operators, which is essential for the production of T-cell therapies. The company's commitment to precision and innovation is evident in every step of its work, as it strives to bring about a new era in cancer treatment.