lets get back on point......
Cynata to acquire wound-dressing tech
Clinical-stage biotech specialising in cell therapeuticsCynata Therapeutics (ASX:CYP) has inked a deal with TekCyte Limited (TekCyte) to acquire its wound dressing technology.
TekCyte’s technology is a core component of CYP’s Cymerus iPSC1-derived MSC2 topical wound dressing product candidate, CYP-006TK, currently being investigated in an ongoing clinical trial in patients with diabetic foot ulcers (DFU).
In 2021 CYP entered into a worldwide exclusive licence agreement with TekCyte to use the technology, which is based on proprietary surface modification techniques, to produce polymer-coated dressings for the delivery of MSCs to wounds.
CYP has now agreed to secure outright ownership of the underlying TekCyte tech and will issue shares to the value of $230k to TekCyte.
The shares to be issued will be priced at the volume weighted average price at which Cynata’s shares trade on the ASX during the five trading days preceding the completion of an intellectual property assignment.
CYP says patient enrolment in the DFU trial has been completed with initial results promising. An analysis of the first 16 patients enrolled after 10 weeks’ follow-up showed a median percentage reduction in wound surface area of 87.6% in the active CYP-006TK group, compared to 51.1% in the control group.
“Ownership of this technology strengthens our intellectual property position and simplifies our commercial proposition for potential partners,” CYN CEO and managing director Dr Kilian Kellysays in an announcement.
We are very excited by the initial results in our trial of CYP-006TK in DFU, and optimistic about the potential for this product to meaningfully change outcomes for patients.”
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