Century Therapeutics expands autoimmune disease portfolio

PHILADELPHIA - Century Therapeutics, a biotechnology firm focused on iPSC-derived therapies, announced plans to broaden its clinical development for CNTY-101, targeting additional autoimmune disease indications. CNTY-101 is currently in trials for B-cell malignancies and systemic lupus erythematosus (SLE).

The expansion follows a $60 million private placement led by Bain Capital Life Sciences, intended to extend the company's financial runway into 2026. Concurrently, Century acquired Clade Therapeutics, enhancing its pipeline with three preclinical-stage programs and next-generation Allo-Evasion™ technology.

CNTY-101, a CD19-targeting iNK cell therapy with six precision gene edits, allows for repeat dosing without continuous lymphodepletion, potentially enabling B-cell depletion without prolonged B-cell aplasia. The therapy has shown potent in vitro B-cell killing and initial safety and efficacy in the ELiPSE-1 trial for relapsed/refractory non-Hodgkin lymphoma.

The CALiPSO-1 trial for SLE is set to begin in the first half of 2024, with preliminary data expected by year-end. Century plans additional regulatory filings for other autoimmune diseases in the latter half of 2024.

The private placement, expected to close on April 15, 2024, will issue approximately 15.8 million shares at $3.78 each, equal to Century's closing stock price on NASDAQ on April 10, 2024. The funds will support CNTY-101's expansion and general corporate purposes.

The Clade acquisition brings in advanced iPSC-derived T cell programs for cancer and autoimmune diseases, including CLDE-308 and CLDE-361, which target CD19 and BCMA, respectively. The upfront purchase price is approximately $35 million, with a potential future milestone payment of $10 million.

Century Therapeutics, traded as NASDAQ:IPSC, is advancing off-the-shelf cell therapies for cancer and autoimmune diseases, aiming to address significant unmet medical needs. This report is based on a press release statement.

As Century Therapeutics (NASDAQ:IPSC) forges ahead with its clinical trials and strategic acquisitions, the company's financial metrics provide valuable context for investors. The adjusted market capitalization of Century stands at $245.01 million, reflecting the current investor valuation of the firm's potential in the biotechnology landscape.

InvestingPro data reveals a Price to Earnings (P/E) ratio of -1.66, indicating that the company is currently not profitable. This is further emphasized by an adjusted P/E ratio for the last twelve months as of Q4 2023 of -2.07. These figures highlight the inherent risks associated with investing in a clinical-stage biotech company, where profitability is often a long-term goal beyond the horizon of current clinical trials and research advancements.

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Despite the lack of profitability, the Price to Book (P/B) ratio of 1.33 suggests that the market values the company's assets reasonably in relation to its share price. Moreover, the company has experienced significant volatility in its share price, with a 6-month total return of 130.49%, underscoring the speculative nature of investments in the biotech sector.

For investors seeking a deeper analysis of Century Therapeutics and similar companies, InvestingPro offers additional insights. There are PRONEWS24 more InvestingPro Tips available, which can provide further guidance on investment decisions. These tips are part of the InvestingPro service, and interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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