Valbonne, France, October 19, 2017, 5.45pm CEST
TxCell SA (FR0010127662 – TXCL), a developer of cellular immunotherapies based on regulatory T cells (Tregs) for inflammation, autoimmunity and transplantation, today reports its revenues for the third quarter of 2017 and its cash position as of September 30, 2017.
Cash position and revenues as of September 30, 2017
As of September 30, 2017, TxCell’s cash and cash equivalents amounted to €7.0 million1, including €1.0 million for the partial pre-funding of TxCell’s 2017 research tax credit.
The proceeds from the potential exercise of all the warrants which were attached to new shares issued as part of the February 2017 capital increase would enable TxCell to finance its activities through to the IND approval to initiate a first-in-man study with a CAR Treg candidate. This is expected by the end of 2018. TxCell is also looking at alternative financing options should these warrants not be fully exercised at maturity. The Company expects to communicate shortly regarding these options.
As expected, TxCell did not generate revenues during the third quarter of 2017. TxCell confirms its operating cash burn guidance for the full year 2017 of up to €13 million.
Recent progress with TxCell’s CAR-Treg platform
In September 2017, TxCell and its academic partner, UBC, presented new preclinical proof-of-concept data as part of their CAR-Treg program targeting the prevention of chronic rejection after organ transplantation2. Additional Treg and CAR-Treg related data were also presented in several international conferences in September and October 20173-6.
Ongoing in vitro and in vivo studies conducted by TxCell are showing promising preliminary results in relevant models of autoimmune diseases, including multiple sclerosis, confirming TxCell’s CAR-Treg platform strategy. In the next few months, TxCell will present new proof-of- concept data in clinically relevant mouse models with several candidates at appropriate scientific conferences and/or in peer-reviewed journals.
- Unaudited data.
- Levings MK, Alloantigen-specific regulatory T-cells generated with a chimeric antigen receptor. Oral presentation, 18th Congress of the European Society for Organ Transplantation (ESOT), September 24-27, 2017, Barcelona, Spain.
- Zhou L (presenting author), Abel T, Schneider IC, Beghelli S, Labbal F, David M, Menkova-Garnier I and Meyer F. Designing the next generation of chimeric Antigen receptors for Regulatory T cell therapy through in silico modeling-guided single chain Fv engineering. Oral presentation & poster N°12, CAR-TCR Summit 2017, September 5-8, 2017.
- Ménoret S, Guillonneau C, Anegon I (presenting author), CD8+ Treg new players in allograft tolerance. Oral presentation, Final Conference of the European COST Consortium ‘Action to Focus & Accelerate Cell-based Tolerogenic Therapies’ (A FACTT), October 9-11, 2017, Barcelona, Spain.
- Fenard D (presenting author), David M, Abel T, Marchetti I, Asnagli H, Zhou L and Meyer F, Combination of transduction enhancers with Ecotropic-MLV pseudotyped lentiviral vectors enables highly efficient transfer of chimeric antigen receptors into murine T effector and T regulatory lymphocytes. Poster presentation, 25th Anniversary Congress of the European Society of Gene & Cell Therapy (ESGCT), October 17-20, 2017, Berlin, Germany.
- Abel T (presenting author), Schneider IC, Beghelli S, Labbal F, David M, Zhou M and Meyer F, Designing the next generation of chimeric Antigen receptors for Regulatory T cell therapy through in silico modeling-guided single chain Fv engineering. Poster presentation, 25th Anniversary Congress of the European Society of Gene & Cell Therapy (ESGCT), October 17-20, 2017, Berlin, Germany.