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Chimeric Therapeutics Ltd C.CHM


Primary Symbol: CHMMF

Chimeric Therapeutics Limited is an Australia-based clinical-stage cell therapy company. The Company is focused on the discovery, development, and commercialization of cell therapies for patients with cancer. Its pipeline includes CHM 1101 and CHM 2101. Its CHM 1101 (CLTX CAR-T) is a CAR-T therapy developed for the treatment of patients with solid tumors. CHM-1101 is being studied in a Phase 1B clinical trial in recurrent/ progressive glioblastoma. CHM 2101 is a third generation CDH17 CAR T, which is in preclinical development with a planned Phase I clinical trial in neuroendocrine tumors, colorectal, pancreatic and gastric cancer. Its pipeline also includes the CORE-NK platform, a clinically validated, off-the-shelf natural killer (NK) cell therapy platform to their portfolio (CHM 0201). The Company is also focused on the development of NK and CAR NK assets with plans for Phase 1B clinical trials in solid tumors and blood cancers.


OTCPK:CHMMF - Post by User

Post by fredskion Jul 09, 2020 8:31am
166 Views
Post# 31244053

Chemistree Closes First Tranche Of Immunoflex Investment

Chemistree Closes First Tranche Of Immunoflex Investment

VANCOUVER, BCJuly 9, 2020 /PRNewswire/ - Chemistree Technology Inc. (CSE: CHM) and (CSE: CHM.wt) (USOTCQB: CHMJF) (the "Company" or "Chemistree") is pleased to announce that, further to the news releases dated June 15th and 18th, 2020, the first tranche of the investment into Immuoflex Therapeutics ("ImmunoFlex") has now closed.

The definitive investment agreement includes Chemistree's initial common share purchase of $500,000, together with Chemistree being granted a gross sales royalty on ImmunoFlex's North American sales. A further $500,000 second tranche common share purchase is conditional on certain performance by ImmunoFlex or at the election of Chemistree.  In addition, ImmunoFlex has now appointed Chemistree's Chief Financial Officer Doug Ford to ImmunoFlex's board of directors. Chemistree is also entitled to anti-dilution pre-emptive rights.

ImmunoFlex's products are targeted at prevention and treatment of viruses and improving vaccine effectiveness by safely improving immunity biomarkers and enhancing the immune system as it actively responds to disease.

The first product, known internally as FLEX 0010, targeted to launch in late 2020, is designed to counteract weakened immune systems and diminished immune repertoire caused by a lifetime of battling infections and disease.  It is a natural health product, manufactured and packaged in pharmaceutical-grade facilities and delivered as a flavoured effervescent powder designed to maximize bioavailability and minimize oxidation.  

Chemistree President Karl Kottmeier commented, "We believe that the ImmunoFlex team has created an incredibly timely and logical product. Immune system defense and enhancement is of utmost importance in the face of the current pandemic and Chemistree is pleased to support the development of this and future ImmunoFlex products. For more information, please go to www.immunoflex.com to get a full understanding of this exciting new company."

About Chemistree Technology Inc.
Chemistree Technology Inc. is an investment company dedicated to the U.S. cannabis sector, endeavoring to provide turn-key solutions for the regulated cannabis industry.  The Company's corporate strategy is to acquire and develop vertically integrated cannabis assets and to invest in other cannabis-related opportunities, leveraging management's decades of expertise in the cannabis industry and corporate finance.

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