Not talking about the cell manufacturing. Please do yourself a favour to read the CHM newsletter and listen to the webinars to find out about the real problems. The hospitals are hardly able to handle CAR-Ts in the US and in Australia. It was a huge task to get RPAH Sydney on Board here in AUS for Azer-Cel and CHM is trying to get a place at Peter Mac.
Staff aren't qualified in regular hospitals, the protocol takes a huge toll. CHM's CEOs have always painted a realistic picture about the practical part of CAR-Ts. Hence the huge costs. CHM targets CDH17, different to CD19.
onCarlytics is a great idea, but why do they need their own CAR-T if there are 7 to choose from? According to LC and CHM's previous CEO Jennifer Chow CF33 could be used to target CDH17 as well. Now imagine IMU trying to develop their own CAR-T for each target to come - insane.
The better way would have been and still can be to focus on the CF33 varieties. If CF33 really kills solid cancer cells or at least attaches any CAR-T target onto cancer cells then this would still be a game changer. IMU provides the virus, a partner the CAR-T. Much cheaper and less risky especially when CF33 won't do the job. In that case, 2 techs developed for nothing.
As stated before, in hindsight it is easy to say what should or shouldn't have been done. But they are the industry experts, they should have known better. And even if it was the right decision 2 years ago, it is never too late to stop when approaching a wall instead of bumping into. Sell Azer-Cel if it is so great and be happy with some royalties. But how can they if there is no buyer in sight.
There are only 2 ASX bio-techs listed that have active clinical CAR-T trials going, IMU and CHM. One could argue," Look how ahead they are of the competiton! " or, one could say " The others know why they don't do it. "
CHM was the original Hopper CAR-T company, IMU was aimed at B-cell and CF33. The change of direction got IMU into trouble as well. That was a strategic mistake by the board that is still in control and is not able or willing to correct it. Hopper started the 3 comps well, each for a specific technology, no mix up. Whatever their motivation was to leave that path, greed or just being too ambitious, we don't know. What we do know is the current state of business and that is not good at all.
IMU Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
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