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4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Cynata Therapeutics Ltd    CYP   AU000000CYP7

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Cynata Therapeutics : 17.07.05.FDA Meeting Provides Clear Path for US Development Plans

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07/05/2017 | 01:29am CEST

ASX ANNOUNCEMENT 5 July 2017

FDA Meeting Provides Clear Path for Cynata US Development Plans
  • Cynata Pre-IND meeting with the US FDA completed successfully

  • FDA confirms Cymerus™ manufacturing dossier meets expectations

  • Clear path determined for preclinical and clinical protocol requirements for product development in US

  • Potential to take advantage of fast-track provisions under the new 21st Century Cures Act

Melbourne, Australia; 5 July 2017: Australian stem cell and regenerative medicine company, Cynata Therapeutics Limited (ASX: CYP), has received written advice from the United States Food and Drug Administration (FDA) regarding the regulatory approval path for Cynata's proprietary Cymerus™ mesenchymal stem cell (MSC) products in the US. This advice follows a pre-Investigational New Drug (pre-IND) meeting (announced 19 April 2017), which Cynata recently held with the FDA's Office of Cellular, Tissue and Gene Therapies.

The FDA confirmed that the scope and substance of Cynata's "Chemistry, Manufacturing and Controls" (CMC) dossier is commensurate with its expectations, which indicates that Cymerus™ MSC products are expected to be of suitable quality for clinical trial use in the US.

Cynata received clarification on the design of preclinical studies required to support a US IND, and anticipates conducting those studies in parallel with the ongoing clinical trial of CYP-001 for the treatment of graft-versus-host disease (GvHD) being conducted in the United Kingdom and Australia. The FDA also provided advice regarding the protocol for a planned GvHD clinical trial in the US.

Additionally, the FDA clarified that Cynata may submit a request for "Regenerative Medicine Advanced Therapy" (RMAT) designation for its CYP-001 product to treat GvHD once preliminary results of the world first clinical trial are available, assuming those results support such a request. RMAT designation is an initiative that arose from the 21st Century Cures Act, which recently came into law in the US. The initiative allows companies with RMAT designated products to avail of additional and earlier interactions with the FDA and to seek priority review and accelerated approval.

"The pre-IND meeting was an enormously valuable exercise for Cynata. The outcome of the meeting was very positive, and we are optimistic that we will be able to open an IND and include clinical centres in the US in future trials," said Dr Kilian Kelly, Cynata's Vice President, Product Development." "This will be an important step in the commercial development of CYP-001 in the world's largest market for pharmaceutical products".

Ends

CONTACTS: Dr Ross Macdonald, CEO, 0412 119343, ross.macdonald@cynata.com

Andrew Ramadge, Australia Media Contact, 0475 797 471, andrew.ramadge@mcpartners.com.au Laura Bagby, U.S. Media Contact, 312-448-8098, lbagby@6degreespr.com

About Cynata Therapeutics (ASX: CYP)

Cynata Therapeutics Limited (ASX: CYP) is an Australian clinical-stage stem cell and regenerative medicine company developing therapies based on its proprietary Cymerus™ stem cell technology platform. Cymerus overcomes critical issues in the production of therapeutic mesenchymal stem cells (MSCs) by enabling the economical manufacture of commercial- scale MSCs, independent of multi-donor limitations. Cymerus' novel approach utilises induced pluripotent stem cells (iPSCs) derived from a single blood donation to generate mesenchymoangioblasts (MCAs), a precursor that is used to manufacture an unlimited number of therapeutic MSCs. Cynata's unique "off-the-shelf" Cymerus platform has the potential to create a new standard in the development and manufacture of stem cell therapeutics.

Cynata Therapeutics Limited

Level 3, 62 Lygon Street, Carlton, Victoria 3053, Australia PO Box 7165, Hawthorn North, Victoria 3122

T: + 613 9824 5254 F: + 613 9822 7735 E: admin@cynata.com ABN - 98 104 037 372

Cynata Therapeutics Ltd. published this content on 05 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 04 July 2017 23:29:04 UTC.

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Financials ( AUD)
Sales 2017 2,00 M
EBIT 2017 -6,20 M
Net income 2017 -3,80 M
Debt 2017 -
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018 0,04
EV / Sales 2017 27,2x
EV / Sales 2018 4,18x
Capitalization 54,5 M
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Average target price 1,10  AUD
Spread / Average Target 82%
Managers
NameTitle
Ross Alexander MacDonald Chief Executive Officer, Director & MD
Paul Kevin Wotton Chairman
Peter Gordon Webse Secretary & Non-Executive Director
Stewart James Washer Non-Executive Director
John C. Chiplin Independent Non-Executive Director
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