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

June 11, 2024 – Biotechnology, Clinical Trials, Drug Delivery, Pharmaceutical – CRISM Therapeutics, Precision Health Technologies Accelerator, University of Birmingham, clinical trials, oncology

11 June 2024 — Birmingham, UK — CRISM Therapeutics Corporation 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 2 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.

Precision Health Technologies Accelerator

The PHTA is the University of Birmingham’s signature health and life sciences research facility, providing approximately 70,000sqft of state-of-the-art laboratory, incubation and collaboration space and was supported with funding from GBSLEP.

PHTA will soon occupy the top three floors of No 1 BHIC – the flagship building of the ambitious Birmingham Health Innovation Campus which is being delivered in partnership with experienced investor-developers Bruntwood SciTech.

Working closely alongside Birmingham Health Partners, PHTA offers access to a wide range of expertise in clinical research, trials and health data, as well as opportunities to work with key opinion leaders across the academic and clinical spectrum. Its physical facilities will include wet and dry lab space; prototype development and small-batch manufacturing; business incubation space and flexible hot-desking.

About CRISM Therapeutics Corporation

CRISM Therapeutics Corporation has developed an innovative drug delivery technology to improve the clinical performance of cancer treatments for solid tumours through the local delivery of chemotherapy drugs. ChemoSeed, CRISM’s lead product, can be implanted directly into the tumour or the resection margin following the removal of a tumour. This directs that therapeutic concentrations of chemotherapy drugs reach the deep-seated tumour tissue or cover the entire resection margin. In the case of treating high-grade glioma, ChemoSeeds can be implanted during surgery thereby bypassing the blood brain barrier, which prevents other treatments from being able to reach the tumour and be effective. CRISM plans to submit a clinical trial application in H2 2024 for ChemoSeed in high-grade glioma. Based on preclinical data, the Tessa Jowell BRAIN MATRIX Scienticfic Advisory Board has approved ChemoSeed in a phase 2 platform clinical trial which is an efficient and cost-effective clinical development opportunity. For more information please visit: https://www.crismtherapeutics.com/