{"id":8887,"date":"2024-04-29T04:50:47","date_gmt":"2024-04-29T04:50:47","guid":{"rendered":"https:\/\/economicherald.net\/?p=8887"},"modified":"2024-04-29T04:50:47","modified_gmt":"2024-04-29T04:50:47","slug":"adalta-locks-in-3-7m-to-speed-up-phase-ii-clinical-trials-near-term-partnerships","status":"publish","type":"post","link":"https:\/\/economicherald.net\/?p=8887","title":{"rendered":"AdAlta locks in $3.7m to speed up Phase II clinical trials, near-term partnerships"},"content":{"rendered":"<p>AdAlta has received an institutional investment of up to $3m from New Life Sciences LLC and $700,000 from Meurs Group<br \/>\nThe two investments will allow the company to accelerate the recent SYNBV MoU<br \/>\nAn extended final repayment has also been secured on its existing Treasury Corporation of Victoria (TCV) loan facility<\/p>\n<p>\u00a0<\/p>\n<p><strong><em>Special report:<\/em> An institutional investment of up to $3.7m, including up to $3m to be invested by New Life Sciences Capital, provides important strategic flexibility for AdAlta as it looks to grow other aspects of the business. <\/strong><\/p>\n<p><a href=\"https:\/\/stockhead.com.au\/company\/adalta-1ad\/\">AdAlta\u2019s (ASX:1AD)<\/a> lead asset, AD-214, is being developed for fibrotic diseases, including the debilitating and fatal disease, Idiopathic Pulmonary Fibrosis (IPF).<\/p>\n<p>A Phase I extension study of AD-214 evaluated the safety and tolerability of multiple intravenous (IV) 10 mg\/kg doses in healthy volunteers and was essential for both progressing to Phase II studies and for partnering.<\/p>\n<p>While results are now being shared with a list of potential partners in a view to progress licencing or financing a transaction in the near term, 1AD is also progressing its strategy to secure new clinic assets.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Funding to support partnerships <\/strong><\/h2>\n<p>The company has received up to $3m from New Life Sciences LLC and up to $700,000 from existing shareholder Meurs Group to support and accelerate the recently announced partnerships with venture capital firm SYNthesis BioVentures Fund (SYNBV).<\/p>\n<p>The two companies are collaborating to form AdCella, a jointly owned entity aimed at facilitating the entry of innovative cellular immunotherapies from Asia into western regulated markets, leveraging AdAlta\u2019s i-body technology.<\/p>\n<p>AdCella, once formed, will aim to identify partners across Asia capable of developing multifunctional cellular immunotherapies targeting solid tumours.<\/p>\n<p>It will license or acquire commercialisation rights for these products outside Asia, in return for conducting initial clinical trials in Australia and integrating\u00a01AD\u2019s\u00a0i-body technology into the partner companies\u2019 future product pipeline.<\/p>\n<p>AdAlta says in this way, many of the initial assets would be substantially de-risked because they will have already generated clinical data in their \u201chome\u201d markets.<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Looking beyond AD-214<\/strong><\/h2>\n<p>\u201cThis financing provides important strategic flexibility for AdAlta,\u201d 1AD CEO and MD Tim Oldham says.<\/p>\n<p>\u201cThrough the new support from New Life Sciences Capital and continued support from existing shareholder the Meurs Group, we are able to look beyond potential AD-214 transactions.<\/p>\n<p>\u201cWe can now advance our cellular immunotherapy collaboration with SYNthesis BioVentures and our internal i-body programs with greater certainty,\u201d he says.<\/p>\n<p>\u201cThe flexible nature of this investment means we only draw down what we need and can continue to maximise any non-dilutive financing that may come from transactions.\u201d<\/p>\n<p>\u00a0<\/p>\n<h2><strong>Extension of Victorian government RDTI loan facility <\/strong><\/h2>\n<p>1AD has also secured an extended final repayment date on its existing Treasury Corporation of Victoria (TCV) loan facility as part of the Victorian government\u2019s R&amp;D Cash Flow Loan Initiative.<\/p>\n<p>\u201cWe are grateful for the continued support of the Victorian Government for AdAlta via the R&amp;D Cash Flow Loan Initiative and for the biotech sector generally,\u201d Oldham says.<\/p>\n<p>\u201cThis amendment aligns our repayment date with the anticipated receipt of our next RDTI rebate payment.\u201d<\/p>\n<p>\u00a0<\/p>\n\n<p><span class=\"mce_SELRES_start\">\ufeff<\/span>\u00a0<\/p>\n<p><em>This article was developed in collaboration with AdAlta, a Stockhead advertiser at the time of publishing. <\/em><\/p>\n<p><em>\u00a0<\/em><\/p>\n<p><em>This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n<p><span class=\"et_bloom_bottom_trigger\"><\/span><\/p>\n<p>The post <a href=\"https:\/\/stockhead.com.au\/health\/adalta-locks-in-3-7m-to-speed-up-phase-ii-clinical-trials-near-term-partnerships\/\">AdAlta locks in $3.7m to speed up Phase II clinical trials, near-term partnerships<\/a> appeared first on <a href=\"https:\/\/stockhead.com.au\/\">Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>AdAlta has received an institutional investment of up to $3m from New Life Sciences LLC and $700,000 from Meurs Group The two investments will allow <a href=\"https:\/\/economicherald.net\/?p=8887\" class=\"read-more-link\">[more&#8230;]<\/a><\/p>\n","protected":false},"author":0,"featured_media":8888,"comment_status":"","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-8887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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