Cygenics secures second NIH contract
Monday, 26 July, 2004
CyGenics (ASX: CYN) subsidiary Cytomatrix has secured a second year-long NIH contract worth US$272,000 for further development of its T cell technology.
The funding will be used to perform animal studies examining the ability of the T-cells produced in the company's ex vivo artificial thymus to engraft back into the mouse immune system, with the hope that the technology can be used to help restore immune system function to cancer patients whose immune systems have been damaged by radiotherapy, chemotherapy or disease.
CEO Steven Fang said the NIH contract provides credibility to the company as well as demonstrating confidence in the T cell technology. Cytomatrix also has a contract with the US Department of Defence to test the technology for vaccine screening applications.
In the meantime, CyGenics is planning to begin Phase I/II clinical trials in Australia later this year and is talking to potential partners for the trial, Fang said.
The company is also looking at creating a new business division in Cytomatrix to develop and serve new markets for the T cell technology including vaccine screening and drug screening applications.
Fang said CyGenics' platform technologies would be closely looked at to determine opportunities for further commercialisation.
"We believe that a lot of our technology needs to be 'product-ised' -- that is translated to a product or service," he said.
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