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CytoMed Therapeutics Signs HOA and MOU to Advance Research on Allogeneic Gamma Delta T Cell Technology
SINGAPORE, Dec. 5, 2023 /PRNewswire/ -- CytoMed Therapeutics Limited (NASDAQ: GDTC) ("CytoMed" or "Company"), a Singapore-based biopharmaceutical company
About this update from Cytomed Therapeutics Limited
[{"type":"text","content":"SINGAPORE, Dec. 5, 2023 /PRNewswire/ -- CytoMed Therapeutics Limited (NASDAQ: GDTC) (\"CytoMed\" or \"Company\"), a Singapore-based biopharmaceutical company focused on harnessing its proprietary technologies to develop novel donor-derived cell-based allogeneic immunotherapies for the treatment of various cancers, today announced that it has entered into a Heads of Agreement (HOA) with CytoMed Therapeutics China Limited (CytoMed China), a company incorporated in Hong Kong and a Memorandum of Understanding (MOU) with BioNex Solutions Inc., 千尋生命科學.\n\n \n \n \n \n \n \n\n \nThe HOA forms a collaborative effort between CytoMed and CytoMed China to explore and investigate the safety, tolerability, potency, and efficacy of CytoMed's proprietary allogeneic gamma delta T cells for the treatment of various cancers (including solid tumors) in human subjects through an investigator-initiated trial (IIT) in the People's Republic of China (China). The IIT is to be initiated through an entity to be incorporated in Chongqing, a municipality directly under the Central Government.\n\"Initiating this IIT in collaboration with CytoMed in China offers a cost-effective and expedited means of meeting the call for alternative therapy and acquiring patient data,\" said Daniel Liao, Chairman of CytoMed China. \nPursuant to the HOA, CytoMed will provide technical assistance in the planning and conduct of the clinical trial and will grant CytoMed China, a loan of up to an aggregate of S$1 Million over three years. Subject to approval being granted for and the progress of, the clinical trial, CytoMed is granted a first right of refusal to acquire a majority interest in CytoMed China, a new set-up by independent third parties. CytoMed will use this HOA to leverage the in-country relationships of CytoMed China, its familiarity with the laws and regulations, its access to relevant healthcare personnel, institutions, and facilities, and the patient population in China.\nThe HOA is a legally binding document and shall expire if approval for the IIT is not obtained by September 30, 2024, unless extended by mutual consent.\nIn August 2023, China issued a directive to guide the healthy development of, among other things, somatic cell research and development. In November 2023, the State Council in Beijing introduced a work plan, Beijing Work Plan 2.0, aimed at ex...