{"id":719,"date":"2023-10-31T01:29:11","date_gmt":"2023-10-31T01:29:11","guid":{"rendered":"https:\/\/economicherald.net\/?p=719"},"modified":"2023-10-31T01:29:11","modified_gmt":"2023-10-31T01:29:11","slug":"asx-health-stocks-chimeric-surges-70pc-after-fda-approval-takes-its-car-t-cell-drug-to-the-clinic","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=719","title":{"rendered":"ASX Health Stocks: Chimeric surges 70pc after FDA approval, takes its CAR T cell drug to the clinic"},"content":{"rendered":"<p>Chimeric surged by as high as 73pc this morning after a big FDA announcement<br \/>\nCHM says its CAR T program, CHM 2101, was approved by the FDA\u00a0<br \/>\nAlgorae participates in CSIRO artificial intelligence program<\/p>\n<p>\u00a0<\/p>\n<h2>Chimeric\u2019s CHM 2101 approved IND status by US FDA<\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/chimeric-therapeutics-chm\/\">Chimeric Therapeutics\u00a0(ASX:CHM)<\/a><\/strong> skyrocketed by as high as 73% this morning after a big announcement related to its lead asset <strong>CHM 2101<\/strong>, a novel 3rd generation<strong> CDH17 CAR T cell therapy<\/strong> for gastrointestinal cancers.<\/p>\n<p>Chimeric says the <strong>US Food and Drug Administration (FDA)<\/strong> has given the all-clear for the <strong>Investigational New Drug (IND)<\/strong> application of CHM 2101.<\/p>\n<p>The approval means that CHM 2101 is expected to be the first ever CDH17 CAR T cell therapy to enter the clinic.<\/p>\n<p>With the FDA IND clearance, Chimeric will now begin the initiation of a Phase 1\/2 multi-site clinical trial in patients with advanced colorectal cancer, gastric cancer and neuroendocrine tumours.<\/p>\n<p>The study is planned to begin patient enrolment in 2024.<\/p>\n<p>This clinical program builds upon the preclinical studies published in the preeminent scientific journal, <em>Nature Cancer in March 2022<\/em> by leading immunotherapy scientist <strong>Xianxin Hua<\/strong> and his team at the <em>Abramson Family Cancer Research Institute at the University of Pennsylvania<\/em>.<\/p>\n<p>Hua\u2019s experiments demonstrated that CHM 2101 was able to eradicate established tumours in seven cancer models, with no toxicity to normal tissues.<\/p>\n<p>\u201cThis is a critical step forward in developing an entirely new CAR T therapy for GI-cancers and neuroendocrine tumors, providing new hopes for the cancer patients who are refractory to the existing therapies,\u201d Hua said.<\/p>\n<p>CHM 2101 is a third generation, novel CDH17 CAR T cell therapy that targets CDH17, a cancer target associated with poor prognosis and metastasis in the most common gastrointestinal and neuroendocrine tumours.<\/p>\n<p>\u00a0<\/p>\n<h2>Algorae to participate in CSIRO\u2019s AI program<\/h2>\n<p><strong><a href=\"https:\/\/stockhead.com.au\/company\/algorae-pharmaceuticals-1ai\/\">Algorae Pharmaceuticals (ASX:1AI)<\/a> <\/strong>has entered into a multi-party agreement including the <strong>University of NSW (UNSW)<\/strong> for Algorae to become an industry participant to the <strong>Next Generation Artificial Intelligence Graduate Program (NGAIGP)<\/strong>.<\/p>\n<p>The program was established and operated by Australia\u2019s national science agency, <strong>CSIRO<\/strong>.<\/p>\n<p>Under the agreement, UNSW will recruit three PhD candidates for the purpose of advancing the development of <strong>Algorae Operating System (AlgoraeOS)<\/strong>.<\/p>\n<p>AlgoraeOS is an AI platform designed for the biopharma industry to predict new drug candidates, and to improve development outcomes.<\/p>\n<p>These candidates will be supervised and managed by AlgoraeOS lead investigator and AI expert, Associate Professor Fatemeh Vafaee, and another post-doctoral operating officer.<\/p>\n<p>The hand-selected PhD candidates will form part of the research and development team for the AlgoraeOS project and will be co-funded by CSIRO and Algorae.<\/p>\n<p>CSIRO will provide approximately two-thirds of the funding required for the candidates, with Algorae providing approximately the rest of the funding over the three-year term of the scholarships.<\/p>\n<p>The aim of NGAIGP is to grow a pipeline of home-grown, job-ready graduates to unlock the immense economic opportunity offered by artificial intelligence and emerging technologies, such as robotics, cyber security, quantum computing and blockchain.<\/p>\n<p>\u00a0<\/p>\n<h2>Chimeric and Algorae share prices today<\/h2>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span><span class=\"mce_SELRES_start\"><\/span>\u00a0<br \/>\n<span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/asx-health-stocks-chimeric-surges-70pc-after-fda-approval-takes-its-car-t-cell-drug-to-the-clinic\/\">ASX Health Stocks: Chimeric surges 70pc after FDA approval, takes its CAR T cell drug to the clinic<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Chimeric surged by as high as 73pc this morning after a big FDA announcement CHM says its CAR T program, CHM 2101, was approved by <a href=\"https:\/\/economicherald.net\/?p=719\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":720,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ASX Health Stocks: Chimeric surges 70pc after FDA approval, takes its CAR T cell drug to the clinic - Economic Herald<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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