PTX Price Target A$0.20: Differentiated CAR-T Platform Technologies Licensed; Agnostic to Cell Type and Targets
OmniCAR could answer many questions for first-gen CAR-T approaches. Last night, Australian based Prescient hosted an investor call, and announced a licensing agreement with U. Penn and Oxford University for: (1) a universal immune receptor technology platform (U. Penn); and (2) a non-exclusive license with Oxford for the SpyTag/SpyCatcher molecular binding system, both with the goal of generating a potentially transformative approach to CAR-T therapy. The license encompasses an enabling platform called OmniCAR that could be beneficial for not only Prescient but potentially for multiple future licensing agreements. While Prescient continues to quickly manage its cash resources, this agreement is both non-dilutive, and importantly, has no immediate material financial impact for the company. U. Penn was looking toward a quick commercial path for initial use of the platform and therefore, the deal is more back-end loaded with typical milestones and royalties to be paid on potential revenue. The key differentiating feature of the OminCAR platform is that it is not only cell type agnostic (e.g., T-cell, NK cell, etc.) but is also completely agnostic to the target and targeting approach. This latter feature allows for broad adaptability to dose patients sequentially with a single target CAR-T or concomitantly with multi-targeting cells.
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