Business
Century Therapeutics Reports First Quarter 2023 Financial Results and Provides Business Updates
– Preclinical data supporting selection of CNTY-101 as lead product candidate presented at AACR Annual Meeting – – Company remains on track to report initial
About this update from Century Therapeutics, Inc.
[{"type":"text","content":"– Preclinical data supporting selection of CNTY-101 as lead product candidate presented at AACR Annual Meeting – – Company remains on track to report initial data from Schedule A of the ongoing Phase 1 ELiPSE-1 trial of CNTY-101 in relapsed/refractory CD19 positive B-cell lymphomas by year end – – Ended first quarter 2023 with cash, cash equivalents, and investments of $334.8 million; Cash runway expected into 2026 – PHILADELPHIA, May 11, 2023 (GLOBE NEWSWIRE) -- Century Therapeutics, Inc. (NASDAQ: IPSC), an innovative clinical-stage biotechnology company developing induced pluripotent stem cell (iPSC)-derived cell therapies in immuno-oncology, today reported financial results and business highlights for the first quarter ended March 31, 2023. “We are keenly focused on advancing our next generation iNK and gamma delta iT platforms to deliver transformative allogeneic cell therapies to patients with unmet need,” said Greg Russotti, Ph.D., interim Chief Executive Officer, Century Therapeutics. “For our lead candidate, CNTY-101, we remain on track to report initial data from Schedule A of the ongoing Phase 1 ELiPSE-1 trial in patients with relapsed or refractory CD19 positive B-cell lymphomas by year end. With a strong balance sheet expected to support operations into 2026 and a highly talented team, we believe we are well positioned to successfully execute on our mission.” Business Highlights & Upcoming Milestones At the American Association for Cancer Research (AACR) Annual Meeting in April 2023, the Company presented preclinical data from its iPSC-based cell therapy platform supporting the selection of CNTY-101 as its lead product candidate. Additional preclinical data characterizing epigenetic and transcriptomic donor-specific differences iNK cells were also shared. A copy of each poster is available in the \"Science” section of the Company’s website at https://www.centurytx.com/science/.In March 2023, the Company announced the appointment of Greg Russotti, Ph.D., as interim Chief Executive Officer. Dr. Russotti, who served as the Company’s Chief Technology Officer since January 2020, succeeds Lalo Flores, Ph.D., who stepped down as Chief Executive Officer and as a member of the Company’s Board of Directors. In addition, Michael C. Diem, M.D., was promoted to the role of Chief Financial Officer and Hy Levitsky, M.D., assumed hi...