AvenCell Secures Up to $40 Million AMED Grant
AvenCell Japan, a fully owned subsidiary of AvenCell Therapeutics, has recently been awarded a substantial grant from the Japan Agency for Medical Research and Development (AMED), amounting to up to $40 million. This funding, which is non-dilutive, aims to facilitate the global development of AvenCell's promising CAR-T therapy candidate, AVC203. This particular treatment is designed for B-cell lymphomas and is currently in the Investigational New Drug (IND) stage.
The uniqueness of AvenCell's approach lies in its proprietary allogeneic technology, which differs significantly from earlier cell engineering techniques. By employing multiple gene editing steps, AvenCell's method ensures that the patient's immune system – including both innate and adaptive components – does not reject donor cells. Moreover, the integrity of donor T-cell fitness and potency remains intact throughout the manufacturing process. These dual requirements address critical barriers that other first-generation allogeneic methods have yet to overcome.
Preliminary clinical data from AvenCell's AVC201 clinical trial, which focuses on patients with relapsed or refractory Acute Myeloid Leukemia (AML), showcases that these allogeneic cells exhibit robust growth patterns. In fact, their expansion rates exceed those observed in similar autologous therapies, proving their effectiveness beyond the common one-month rejection hurdle that many earlier allogeneic candidates face.
Andrew Schiermeier, Ph.D., the President and CEO of AvenCell Therapeutics, expressed enthusiasm regarding the grant. He noted, "We are thrilled to have been selected by AMED to participate in its program to strengthen the Japan Pharmaceutical Startup Ecosystem. Lymphomas and leukemias constitute a significant and unmet need globally, including in Japan. We are eager to partner with key opinion leaders and stakeholders in the region to introduce a transformative therapeutic that can substantially benefit patients."
This grant comes at a critical time as AvenCell Therapeutics is poised to contribute to advancements in treating hematologic cancers. The financial backing from AMED not only underscores the potential of AvenCell's innovative methodologies but also reinforces the importance of continued investment in biotechnological research and development. With the support of AMED and a growing interest in biotechnology, AvenCell is set to accelerate its mission of bringing effective CAR-T therapies to market, addressing high unmet medical needs in oncology and other areas.
For further information about AvenCell and its initiatives, visit
www.avencell.com.