Cancer cell therapy house Chimeric Therapeutics (ASX:CHM) is...

Cancer cell therapy house Chimeric Therapeutics (ASX:CHM) is going to the well for a much-needed capital raising of at least $5 million to fund its multiple clinical programs.

Chimeric shares have been suspended since October 1, after the company failed to lodge its full-year accounts. As at June 30 the company had a mere $3 million in the bank having burnt just under $6 million during the quarter – numbers on which the auditors would not have looked too kindly.

The company had expected to complete the raising last Friday, with “any further updates announced in due course.”

Last Monday, Chimeric set the tone for the capital raising by reporting its first patient in the blood cancer arm of its phase 1b combination trial had a ‘complete response’ after 28 days. In other words: the tumour vanished.

Carried out at the UH Seidman Cancer Center in Ohio, the trial combined Chimeric’s so-called ‘natural killer’ cells with vactosertib, an agent that suppresses tumour growth in cells overexpressing a certain biomarker.

Three patients are currently enrolled in the phase 1b study with the goal to enrol 12 patients. Earlier, another patient in the phase 1a stanza also had a complete response, now sustained for 48 months.

From St@ck head (one word) news letter