Update: Joining the US CAR club
Celyad (formerly Cardio3) has completed a US IPO and EU placing to raise $100.1m gross. This will fund an aggressive and ambitious clinical trial programme to develop novel Natural Killer CAR cancer therapy (NKG2D). Celyad aims to start one solid tumour trial per quarter once a Phase I initial AML/MM efficacy signal is detected. This potentially moves NKG2D therapy into large, valuable indications. The core value remains based on C-Cure cardiac cell therapy. Adding CAR AML and MM therapies takes the indicative value to €966m. Solid tumour indications may add €519m, €53/$60 share, but are not currently included as they are still preclinical.Celyad is engaged in engineered cell therapy treatments with clinical programs initially targeting indications in cardiovascular disease and oncology. Co. provides C-CATHez, an injection catheter that delivers bio therapeutic agents into the myocardium. Co.'s main product is C-Cure, which is in Phase III clinical trials for the treatment of chronic heart failure secondary to ischemic cardiomyopathy. Co.'s drug product candidates are autologous cell therapy treatments. In autologous procedures, a patient's cells are harvested, selected, reprogrammed and expanded, and then infused back into the same patient.
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