Market potential3 Jul 2024 12:52
The main driver is the market potential here.
£1.7 Billion and lives saved .
Direct implanting of their drug into the tumour.
Massive massive potential.
31 May 2024
CRISM Therapeutics Corporation
(AIM:CRTX)
Admission to Trading and First Day of Dealings
CRISM Therapeutics Corporation ("CRISM" or the "Company"), previously called Amur Minerals Corporation, is pleased to announce that, in conjunction and simultaneously with the completion of the acquisition of the entire issued share capital and other securities of Extruded Pharmaceuticals Limited at 8:00 a.m. today, its ordinary shares will commence trading on AIM under the ticker CRTX, with ISIN VGG042401262 and SEDOL number BS60QF6.
CRISM Therapeutics Corporation is a UK-based pharmaceutical company which has developed an innovative drug delivery technology, ChemoSeed, to improve the clinical performance of cancer treatments for solid tumours through the local delivery of chemotherapy. ChemoSeed is a polymer the size of a grain of rice, administering irinotecan, a generic drug approved to treat brain cancer and can be implanted directly into a tumour or the resection margin following the removal of a tumour. ChemoSeed will initially be used to treat high grade gliomas, a brain tumour with no satisfactory treatment.
More information on CRISM Therapeutics Corporation and the Admission Document can be found here: www.crismtherapeutics.com.
The Directors of CRISM consider key strengths to include:
· Potential for rapid progression to clinical trials, assuming no need for further toxicology trials, which would reduce time to conditional marketing authorisation by six to nine months and direct costs of development by £400,000
· Based on available animal data, the Tessa Jowell BRAIN MATRIX Scientific Advisory Board has approved the inclusion of ChemoSeed in its Phase II platform clinical trial, which represents an efficient and cost-effective opportunity for clinical development
· Utilising pre-approved drug, irinotecan, reduces risk profile in clinical trials
· Attractive end market with the high grade glioma market valued at circa £1.7 billion
· Target market has orphan disease designation, meaning that ChemoSeed could receive conditional marketing authorisation for high grade glioma in the UK following positive Phase II clinical trials
· CRISM expects to begin its first clinical trial in late 2025. Should the trial generate positive results, given the unmet need for new treatments, this may enable CRISM to commercialise the product for both sales of ChemoSeed and licensing of the platform technology
· If ChemoSeed works well in clinical trials, the Board anticipates ChemoSeed may get approval for compassionate use for other solid tumours where surgical resection takes place or there is ease of access to the tumour, such as pancreatic cancer
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