T-cell therapy developer, Cbio A/S Unveils 2023 Annual Report Amid Clinical Trial Preparations, Signaling Major Shift to Clinical Stage with DKK40M Financing Secured
12 Apr 2024
Cell TherapyImmunotherapyFinancial Statement
SØBORG, Denmark, April 12, 2024 (GLOBE NEWSWIRE) -- Cbio A/S – Pioneering Next-Gen T-Cell Therapies for Solid Tumors, Unveils 2023 Financial Results and Company Updates.
Ulrik Cordes, Founder & CEO of Cbio, stated: “2023 was another great year for Cbio. We finalized the preclinical development of our lead T-cell therapy asset, novoleucel and made considerable progress in preparing for our upcoming phase I/II clinical trial at Karolinska, where we will treat 20 patients with late-stage cervical cancer.
Ulrik Cordes continues: “Our top priority for 2024 is to start our first clinical trial, thereby reaching a major value inflection point. Within the T-cell therapy space, Cbio holds a strong position, and we are dedicated to driving the industry towards our mission to enable cancer cure.”
Recent and full year 2023 highlights:
Completion of the preclinical development for the cervical cancer indication of novoleucel, a novel broad-spectrum T-cell therapy product with transformative potential
Preclinical proof-of-concept for our REVITA™ platform technology demonstrating its applicability in kidney, ovarian and pancreatic cancers in collaboration with Odense University Hospital
First patent allowed. ‘Intention to grant’ letter received from the European Patent Office for our base T-cell technology
In-licensing of a key T-cell therapy technology from Karolinska arming T-cells against oxidative stress, a major escape route for cancers to evade the immune system, especially in gynecological cancers
Secured DKK 28 million in non-dilutive financing from Innovation Fund Denmark and DKK 12 million in equity from new and existing shareholders, securing runway to 2026 as well as the completion of our phase I/II clinical trial at Karolinska in Stockholm
Full year 2023 financial results
The income statement for 01.01.23 - 31.12.23 shows a loss of DKK 621,556 against DKK -8,975,691 for 01.01.22 - 31.12.22 in line with the expected burn rate. The balance sheet shows equity of DKK 5,743,164.
About Cbio A/S
Cbio A/S is a biopharmaceutical company located in Copenhagen dedicated to improving the lives of patients and ultimately curing them with late-stage cancers by making T-cell-based therapies available to patients worldwide. Cbio’s unique and proprietary technology forms the basis for a differentiated T-cell product with transformative potential.
A photo accompanying this announcement is available at
For more information: Cbio A/S Ulrik Cordes, Founder & CEO (+45) 31 62 53 33 Transformervej 8 DK-2860 Søborg Denmark
Cleanroom operator cutting tumor tissue
Picture of Cbio cleanroom operator cutting tumor tissue for T-cell therapy production
For more details,please visit the original website
The content of the article does not represent any opinions of Synapse and its affiliated companies. If there is any copyright infringement or error, please contact us, and we will deal with it within 24 hours.
Organizations
Indications
Targets
-Drugs
-Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.