Prescient Therapeutics (ASX:PTX) has secured fresh backing from investors, completing a $3 million capital raise to support the clinical development of its targeted cancer therapy PTX-100.
The Melbourne-based biotechnology company confirmed receipt of the final $450,000 tranche of funding from professional and sophisticated investors, marking the close of a placement first announced on 31 July. The company had already banked $2.5 million earlier in August, with the final instalment translating into the issue of 11.25 million new shares at four cents apiece.
Chief Executive James McDonnell said the successful raise reflected strong support for Prescient’s strategy and pipeline. “I’m grateful for our investors’ continued confidence in Prescient’s mission to deliver better outcomes for cancer patients,” he said. “This funding enables us to drive PTX-100 forward through clinical development and achieve key milestones as we progress toward bringing this therapy to patients.”
PTX-100 is the company’s lead targeted therapy, a first-in-class inhibitor of the enzyme GGT-1, which disrupts cancer growth pathways and induces the death of tumour cells. It is currently in Phase 2 development for cutaneous T-cell lymphoma (CTCL) and holds both Orphan Drug Designation and Fast Track status from the US FDA. Early studies have shown encouraging efficacy and safety, and the Phase 2 trial is recruiting globally.
Alongside its lead program, Prescient is advancing a suite of next-generation cell therapy platforms. These include CellPryme-M, designed to enhance the potency and durability of adoptive cell therapies during manufacturing, CellPryme-A, an adjuvant treatment that boosts CAR-T cell expansion and tumour penetration, and OmniCAR. This universal immune receptor platform allows for flexible and controllable T-cell activity against multiple cancer targets.
McDonnell added, “This raise is about more than capital—it’s about confidence in the science, the strategy, and the team we’ve built to deliver on our vision.”