REG - CRISM Therapeutics - Innovate UK Grant Award

CRISM' TherapeuticsAnnouncement

27/03/2025 07:15

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RNS Number : 3763C  CRISM Therapeutics Corporation  27 March 2025

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27 March 2025

 

 

CRISM Therapeutics Corporation

("CRISM", "CRISM Therapeutics" or the "Company")

 

Innovate UK Grant Award

 

CRISM Therapeutics Corporation (AIM: CRTX), the innovative UK drug delivery
company focused on the localised delivery of chemotherapy drugs, is pleased to
announce that it has been awarded a grant by Innovate UK to support the
pre-clinical development of the Company's proprietary ChemoSeed technology in
prostate cancer (the "Project").  The Project is in line with the Company's
strategy as detailed in the admission document published when CRISM joined the
Aim market last year and which highlighted the potential of ChemoSeed in
multiple disease areas.

The Innovate UK grant was awarded as part of the Government's  'Launchpad:
life and health sciences, Northern Ireland - Rd2 MFA'.   Under the terms of
the grant, CRISM will develop a docetaxel-loaded implantable drug delivery
technology ("docetaxel ChemoSeed") for intraprostatic chemotherapy, addressing
the critical need for localised, effective, and less toxic prostate cancer
treatment.

Docetaxel ChemoSeed is differentiated from other approaches in that it is
implanted inside the prostate, overcoming the non-lipophilic characteristics
of the prostate which prevent traditional chemotherapy from having a
therapeutic effect.

The Project, which will take about 12 months, is designed to deliver:

·    A functional prototype of the implantable device.

·    Pre-clinical validation data demonstrating safety and efficacy.

·    IP protection through patents for core innovations.

·    Scalable manufacturing protocols for commercialisation.

The outputs from the Project will establish a foundation for the design of
clinical trials, the regulatory approval pathway and market introduction,
addressing a critical unmet medical need in prostate cancer therapy.

The total cost of the Project is £152,550, and covers key areas such as
staffing, overheads, subcontracting, preclinical validation, and regulatory
and IP advice. The Company is receiving a grant of £96,106, which represents
63% of the total cost. The remaining £56,444 will be funded through
contributions from CRISM.  The Project will be carried out in partnership
with Ulster University, Queen's University Belfast and Axis Bio, a preclinical
contract research organisation, which will complete the preclinical validation
to assess the efficacy and safety of the docetaxel ChemoSeed.

Commenting on the award Prof Suneil Jain, Professor of Clinical Oncology, and
Co-director of The Prostate Cancer Centre of Excellence at Queens University
Belfast and the clinical lead on the Project said: "Unlike traditional
chemotherapy, which often fails to reach the prostate due to its
non-lipophilic nature, the docetaxel ChemoSeed is implanted directly into the
prostate, delivering sustained, targeted chemotherapy to where it is needed
most.  This approach promises superior efficacy, minimal side-effects and
improved patient outcomes compared to conventional systemic treatments."

Prostate cancer affects 50,000 men annually in the UK, and current treatments
such as systemic chemotherapy and radiotherapy often cause severe side
effects, reduced compliance, and limited efficacy. Docetaxel ChemoSeed is
designed to overcome these issues by delivering sustained, controlled
chemotherapy directly to the tumour site. This innovation reduces systemic
toxicity, improves therapeutic outcomes, and aligns with the Launchpad
competition's emphasis on advanced healthcare technologies that enhance
patient care. Prostate cancer offers a high growth market opportunity as the
global prostate cancer therapeutics market is valued at $13.4 billion in 2024,
 and projected to grow at a CAGR of 8.6%, reaching $22 billion by 2030*. This
includes patients undergoing chemotherapy and those unsuitable for systemic
treatments due to comorbidities.

Commenting on the award, CRISM CSO and Professor of Biomedical Innovation,
School of Biomedical Sciences at Ulster University, Chris McConville said: "We
are pleased to have been awarded this Innovate UK grant which is a testimony
to our innovative technology to treat solid tumours with the localised
delivery of chemotherapy. Prostate cancer is a serious and growing condition,
and we look forward to working with Queen's and Ulster Universities and Axis
Bio to advance the study of using docetaxel in ChemoSeed as a treatment
option.

"We believe that ChemoSeed has the potential to be transformational owing to
its novel localised delivery mechanism and are excited to be adding another
indication in a significant market, alongside brain tumours."

 

* Prostate Cancer Therapeutics Market Size, Share & Trends Analysis Report
By Drug Class (Hormonal Therapy, Chemotherapy, Immunotherapy, Targeted
Therapy), By Distribution Channel, By Region, And Segment Forecasts, 2025 -
2030

https://www.grandviewresearch.com/industry-analysis/prostate-cancer-therapeutics-market#
(https://www.grandviewresearch.com/industry-analysis/prostate-cancer-therapeutics-market)

 

-Ends-

 

 

Enquiries:

 

 Company                         Nomad and Broker                  Financial PR
 CRISM Therapeutics Corporation  S.P. Angel Corporate Finance LLP  Burson Buchanan
 Andrew Webb, CEO                Richard Morrison                  Mark Court / Jamie Hooper

 Chris McConville, CSO           Adam Cowl                         CRISM@buchanancomms.co.uk
 via Burson Buchanan             +44 (0) 20 3470 0470              +44 (0) 20 7466 5000

 

 

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 is scheduled to submit a clinical trial application for ChemoSeed in
high-grade glioma in early 2025.

For more information please visit: https://www.crismtherapeutics.com/
(https://www.crismtherapeutics.com/)

https://www.axisbio.co.uk/ (https://www.axisbio.co.uk/)
 

 

 

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