- Preliminary data from the Phase 1 trial are expected first half 2021
- Additional €3.4 million in non-dilutive funding from SPW-Recherche of the Walloon Region to support advancement of CYAD-211
Mont-Saint-Guibert, Belgium – Celyad Oncology SA (Euronext & Nasdaq: CYAD), a clinical-stage biotechnology company focused on the discovery and development of chimeric antigen receptor T cell (CAR T) therapies for cancer, today announced dosing of the first patient of the Phase 1 IMMUNICY-1 trial of CYAD-211, the Company’s novel, short hairpin RNA (shRNA)-based anti-B-cell maturation antigen (BCMA) candidate for the treatment of relapsed/refractory multiple myeloma (r/r MM).
“Despite the introduction of several new treatment options over the past few years, multiple myeloma remains a devastating disease with a high unmet need for new therapies. We are proud to participate in the IMMUNICY-1 trial which will evaluate CYAD-211 in the treatment of relapsed or refractory multiple myeloma patients,” said professor Dr. Sébastien Anguille, CAR T specialist at the Antwerp University Hospital (UZA), Edegem, Belgium. “Based on the encouraging preclinical data, we believe this new allogeneic CAR T targeting BCMA has the potential to become an important therapy for such a challenging patient population.”
Frédéric Lehmann, VP of Clinical Development & Medical Affairs at Celyad Oncology, added, “Dosing the first patient with CYAD-211 marks another major milestone to systematically advance our pipeline of non-gene edited allogeneic CAR T candidates. BCMA is highly expressed in multiple myeloma patients and we hope to see a positive clinical benefit with our approach of targeting BCMA with our first-in-class CAR T which is underpinned by our shRNA technology. Enrollment in the IMMUNICY-1 trial will continue over the coming months and we expect to report proof-of-concept data from the initial dose cohorts of the trial during the first half of 2021 .”
Financial Update
The Company received €3.4 million in non-dilutive funding from the SPW-Recherche of the Walloon Region, which will support the development of CYAD 211. Under the terms of this funding, the Company was awarded non-dilutive funding in the form of recoverable cash advances (‘avances récupérables’). The regional funding is associated with the Company’s specific research and development programs. Under the applicable conditions, the recoverable cash advance is reimbursable over the economic life of the projects. Thirty percent is refundable based on a fixed reimbursement schedule of 20 years, while the balance is refunded under the form of royalties over the same period.
The Company confirms its previous guidance that its existing treasury position should be sufficient, based on the current scope of activities, to fund operating expenses and capital expenditure requirements into the third quarter of 2021.
