Chimeric Therapeutics Advances CAR-T and NK Trials with Strong Safety Signals
Chimeric Therapeutics has pushed its CHM CDH17 CAR-T trial to a higher dose with promising safety and persistence, while its CORE-NK Phase 1b trial reports a 60% complete response rate in AML patients. The company is streamlining its portfolio and refreshing leadership as it manages a cash balance under $2 million.
- CHM CDH17 trial reaches 450 million cell dose with no safety issues
- CORE-NK Phase 1b trial hits 60% complete response in AML
- CHM CLTX asset returned to City of Hope to focus resources
- Board refreshed with Dr Bradley Glover as Chair and new CFO
- Cash at $1.75 million with funding advances and operating outflows
CHM CDH17 Dose Escalation Shows Safety and Persistence
Chimeric Therapeutics (ASX:CHM) has escalated its lead CHM CDH17 CAR-T cell therapy to Dose Level 3, administering 450 million CART+ cells. Earlier dose levels 1 and 2 completed without any safety or off-target effects, underpinning a strong safety profile. Notably, CHM CDH17 CART+ cells have been detected in patients’ blood for over 12 months, indicating exceptional persistence, a critical factor for durable cancer remission.
Two colorectal cancer patients have recorded stable disease for 13 and 9 months respectively after single doses at lower levels, remaining on study without additional therapies. This clinical expansion and absence of gastrointestinal toxicity substantially de-risk the program ahead of Phase 2 cohorts. The Phase 1 segment plans to enrol up to 15 patients for dose selection and expansion, reinforcing momentum for this first-in-class therapy developed at the University of Pennsylvania.
These developments build on the company’s earlier progress, including a $8.4 million capital raise to fund the CHM CDH17 trial through Phase 1, which included a strategic reset to sharpen clinical focus and reduce costs $8.4M funding to advance trials.
CORE-NK Phase 1b Trial Reports 60% Complete Response Rate
Following the quarter, Chimeric announced interim results from its ADVENT-AML Phase 1b trial, where 15 of 25 enrolled high-risk AML patients (60%) achieved a complete response or complete response with incomplete count recovery (CR/CRi). This frontline cohort, conducted at MD Anderson Cancer Center, involves patients ineligible for stem cell transplant receiving the CHM CORE-NK therapy combined with azacitidine and venetoclax.
The combination continues to be well tolerated with no unexpected safety issues. Translational data on persistence and cytokine profiles are under evaluation to better understand durability. This investigator-initiated trial underscores the potential of Chimeric’s NK cell platform in blood cancers, complementing the CAR-T pipeline. The 60% response rate notably exceeds typical outcomes for this patient group 60% CR/CRi in AML trial.
Portfolio Streamlining and Leadership Refresh
In a strategic move to focus resources, Chimeric returned the CHM CLTX CAR-T asset to City of Hope, which now assumes full ownership and control. This decision aligns with the company’s intent to concentrate on advancing CHM CDH17 and CORE-NK as core programs.
Corporate governance also saw changes with the appointment of Dr Bradley Glover as Non-Executive Chair, bringing two decades of biotech leadership and cell therapy expertise. Mr Aaron Laurita joined as Chief Financial Officer, adding financial and commercial strength from experience across multiple sectors and geographies. These appointments follow a board refresh initiated late last year and are aimed at steering the company through pivotal clinical and commercial phases.
Cash Position and Funding Outlook
Chimeric closed the quarter with $1.75 million in cash, down from $2.5 million previously, reflecting a net operating cash outflow of $3.42 million primarily driven by staff costs and R&D. Financing inflows of $2.68 million included proceeds from a December placement and a $1.79 million advance on the FY26 Research and Development Tax Incentive (RDTI) from Radium Capital, which supports ongoing clinical activities.
The company’s funding strategy includes a two-tranche placement and a convertible note facility totaling $8.4 million, with shareholder approvals secured at an April extraordinary general meeting. Despite these measures, available funding covers just over half a quarter of current operating outflows, prompting management to continue pursuing additional capital and implement cost controls to extend the cash runway.
Chimeric’s cash management and funding initiatives echo prior announcements on capital structure reshaping, including a 100:1 security consolidation to streamline the share register and potentially improve liquidity security consolidation approved.
Bottom Line?
Chimeric’s clinical progress is encouraging but its cash runway remains tight, requiring ongoing capital raises and operational discipline to sustain momentum.
Questions in the middle?
- Will CHM CDH17’s persistence translate into meaningful clinical efficacy in larger cohorts?
- How durable are the responses in the CORE-NK AML trial beyond initial complete responses?
- What new funding avenues will Chimeric pursue to extend its cash runway beyond the next two quarters?
