ST. PAUL, Minn. - Luminary Therapeutics has been awarded a $300,000 grant to support the development of novel CAR γδ T cell therapies for autoimmune diseases. The G-Rex® Grant, facilitated by ScaleReady in collaboration with Wilson Wolf Manufacturing and Bio-Techne (NASDAQ:TECH) Corporation (NASDAQ: TECH), is designed to expedite the process development and IND-enabling studies for Phase 1 clinical trials.
Luminary's CAR γδ T cell therapies are distinctive in their use of a combination of Vδ1 and Vδ2 subsets, which the company believes will offer improved cytotoxicity, adaptability, and longevity in comparison to other γδ T cell therapies. Their approach also includes an "immune cloaking" mechanism to help the cells avoid detection by the host's immune system.
The grant will also allow Luminary to optimize their CAR design by incorporating features such as safety switches and novel co-stimulatory domains. This optimization is expected to enhance the resilience, safety, and functionality of the therapies. Furthermore, Luminary plans to employ Bio-Techne's TcBuster™ gene engineering technology, which may reduce the time and cost of clinical translation.
Luminary Therapeutics' CEO, Jeff Liter, expressed gratitude for the grant, highlighting its role in generating data crucial for attracting further investment. John Wilson, CEO of Wilson Wolf Manufacturing, noted the grant program's effectiveness in saving time and money for its recipients.
The G-Rex Grant Program is part of a larger $20 million initiative to advance cell and gene-modified cell therapy development and manufacturing. Recipients of these grants gain access to a consortium of partners offering expertise in manufacturing, regulatory affairs, and business operations.
Luminary Therapeutics is also involved in ongoing Phase 1 trials for allogeneic CAR-T therapy, with early positive responses observed in patients without cytokine release syndrome. The company is currently in the early stages of a Series A fundraising round, aiming to progress its clinical trial pipeline.
ScaleReady's G-Rex manufacturing platform is widely used, supporting around 50% of cell and gene therapy clinical trials and five commercially approved drugs. Wilson Wolf Manufacturing's G-Rex technology is recognized for its role in streamlining CGT research and manufacturing.
This development marks a significant step for Luminary Therapeutics as it seeks to bring innovative treatments to patients with autoimmune diseases. The information for this article is based on a press release statement.
In other recent news, ImmunoScape Pte. Ltd., a biotech company, has been awarded a $250,000 G-Rex Grant to support the development of its novel WT1-targeted therapy. The grant, funded by ScaleReady in collaboration with Wilson Wolf Manufacturing and Bio-Techne Corporation, is intended to expedite the process development and regulatory studies necessary for clinical application. The grant will also assist ImmunoScape's pre-clinical process development and the transfer of its manufacturing process to their contract development and manufacturing organization partner.
Simultaneously, Bio-Techne Corporation reported a 1% year-over-year organic revenue growth in its fourth-quarter results, with the ExoDx Prostate test in molecular diagnostics exceeding 20% organic revenue growth. Scotiabank maintained a Sector Outperform rating on Bio-Techne shares, expressing confidence in the company's ability to continue outperforming its peers despite anticipated market declines. Bio-Techne's management remains optimistic about future market stabilization, particularly in China and biopharma, and expects low single-digit growth in the first half of fiscal year 2025.
These recent developments highlight the ongoing growth and resilience demonstrated by both ImmunoScape and Bio-Techne Corporation amidst broader market difficulties.
InvestingPro Insights
To complement the article's focus on Luminary Therapeutics' grant and its implications for CAR γδ T cell therapies, let's examine some key financial metrics for Bio-Techne Corporation (NASDAQ: TECH), one of the collaborators in this grant program.
According to InvestingPro data, Bio-Techne has a market capitalization of $11.17 billion, indicating its significant presence in the biotechnology sector. The company's revenue for the last twelve months as of Q4 2024 stood at $1.16 billion, with a modest growth of 1.97% over the same period. This steady revenue stream supports Bio-Techne's ability to engage in collaborative initiatives like the G-Rex Grant Program.
InvestingPro Tips reveal that Bio-Techne has maintained dividend payments for 17 consecutive years, demonstrating financial stability and commitment to shareholder returns. This consistency aligns well with the company's involvement in long-term research and development projects in the biotech industry.
Additionally, Bio-Techne operates with a moderate level of debt and its liquid assets exceed short-term obligations. These factors suggest a strong financial position, which is crucial for sustaining investments in innovative technologies like the TcBuster™ gene engineering platform mentioned in the article.
For investors interested in a deeper analysis, InvestingPro offers 8 additional tips for Bio-Techne, providing a more comprehensive view of the company's financial health and market position.
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