CRISM Therapeutics Corp to continue pioneering R&D at PHTA following listing on the London Stock Exchange

CRISM Therapeutics Corp to continue pioneering R&D at PHTA following listing on the London Stock Exchange

CRISM Therapeutics Corporation (AIM:CRTX) a UK-based pharmaceutical company  focused on improving the clinical performance of cancer treatments for solid tumours, has raised £2.0m to fund clinical trials and further development following its listing, via a reverse takeover, on the AIM Market of the London Stock Exchange*.

Extruded Pharmaceuticals Ltd (EPL), now renamed CRISM Therapeutics Corp, was established in 2016 at the University of Birmingham by Christopher McConville, Associate Professor in Pharmaceutics and Drug Delivery. Its implantable, biodegradable ChemoSeed® device is designed to deliver precise doses of chemotherapy where surgeons are unable to remove a solid tumour completely. ChemoSeed is a polymer the size of a grain of rice which can be implanted directly into a tumour or the resection margin following removal, and will initially be used to treat high-grade gliomas - a brain tumour with no satisfactory treatment.

CRISM will continue the development of ChemoSeed with the help of the Precision Health Technologies Accelerator (PHTA), itself a subsidiary of the University, and the PHTA Industry Trials Hub. ChemoSeed has successfully completed all required preclinical testing and plans to enter into a Phase II registration-grade clinical trial in 2025.

Founder and Chief Scientific Officer Professor Chris McConville, commented: “With traditional chemotherapy, only a small percentage of the drug reaches the residual tumour. But by bypassing the blood-brain barrier, ChemoSeed can deliver up to four drugs each at an independent dose, getting the majority of the treatment to the right place, before biodegrading naturally.

“Thanks to the support provided by the PHTA to EPL we were able to quickly advance ChemoSeed through preclinical testing while engaging with key stakeholders and end users to secure the necessary advice and support.

“With funding in place CRISM looks forward to continuing the development of ChemoSeed and making this available on the NHS to all patients who need it. While we’ve initially focused on high-grade glioma brain tumours, eventually this could also be used for breast, bladder, liver and pancreatic cancers – which is why we’re using an approved drug, irinotecan, within our device to keep costs down for the health service.”

PHTA’s CEO, Professor Gino Martini, added: “We are thrilled to welcome CRISM to our community, where clinicians, academics and industry work together to accelerate the development and deployment of transformative health technologies. ChemoSeed is a true Birmingham success story with a clear strategy towards commercialisation, and we’re excited to see it develop for the benefit of patients with aggressive brain tumours and other cancers.”

The announcement follows news that KIFFIK Biomedical, Inc., a biotechnology company supported by PHTA since 2022, has secured a major investment commitment from private alternative investment group GEM Global Yield – totalling up to $50m over the course of the next three years.

* CRISM Therapeutics Corp began trading on AIM on 31 May after Amur Minerals Corp changed its name, following the purchase of Extruded Pharmaceuticals Ltd and exiting its mineral exploration business. For further information please see: https://www.lse.co.uk/rns/CRTX/admission-to-trading-and-first-day-of-dealings-2nrfk2wejplpln1.html