Captor Therapeutics Reports Q3 2022 Results and Provides Business Update - Seite 2

In addition to providing Captor with an upfront payment, R&D funding and potential milestones that could reach up to €197 million, in addition to royalties on sales, this agreement with Ono Pharmaceutical is a strong endorsement of Captor’s research and development capabilities. It is also a major event for the TPD field in that it is an early example of a CNS focused collaboration and indicates the wider field of therapeutic applications where TPD could be used. This discovery stage partnership is one of the larger ever signed in the Polish biotechnology market.

“The last few months have brought us closer to a significant breakthrough in the research and development of our own projects. We have also started to monetize interest in our platforms and technology from big-pharma players, as evidenced by the agreement signed with Ono Pharmaceutical. Captor is financially and technologically ready to enter its next chapter of growth. Not only do we have the capabilities to move CT-01 into the clinic and to progress our internal pipeline through pre-clinical development, but our latest advances in preclinical capabilities provide us with the necessary bandwidth to enter new strategic partnerships," said Dr. Michał Walczak, Board Member and Chief Scientific Officer of Captor Therapeutics.

In the third quarter of 2022, Captor generated PLN 9,175 thousand in revenue, including PLN 5,171 thousand from non-dilutive grant funding and PLN 1,110 thousand from the technology collaboration with Sosei Heptares, which aims to discover new degraders against a G protein-coupled receptor (GPCR) target.

“The development path of Captor Therapeutics definitely fits the sought-after growth model of a biotech company. Starting as a small startup, then progressing through our first collaboration, a strong IPO and subsequently signing our largest partnership so far with Ono. We envision even more for our company, and we see real potential for strong growth, as does the TPD sector as a whole and our peer companies, such as MonterRosa Therapeutics and the more advanced Nurix, C4 Therapeutics, Kymera and Arvinas. The partnership with Ono is a clear signal to the market that validates not only the quality of our Optigrade platform, but also demonstrates our team's expertise in TPD technology, and how the field of application for TPD goes well beyond oncology and auto-immune diseases," said Dr. Tom Shepherd, Board Member and CEO of Captor Therapeutics.