How Will Prescient’s $6.8M Raise Accelerate PTX-100’s Cancer Fight?
Prescient Therapeutics has raised $6.8 million through a Share Purchase Plan to fund the Phase 2 development of its novel cancer therapy PTX-100, while launching a discounted placement to sophisticated investors.
- Raised $6.8 million via Share Purchase Plan at $0.04 per share
- Initiated follow-on placement at same discounted price, 11.1% below last trade
- Funds to support Phase 2 clinical trial of PTX-100, a first-in-class GGT-1 inhibitor
- PTX-100 holds FDA Orphan Drug and Fast Track designations for T cell lymphomas
- Company developing complementary cell therapy platforms, CellPryme-M, CellPryme-A, OmniCAR
Capital Raise to Fuel Clinical Progress
Prescient Therapeutics (ASX – PTX), a clinical-stage oncology company based in Melbourne, has successfully raised $6.8 million through a Share Purchase Plan (SPP) priced at 4 cents per share. This capital injection is earmarked to accelerate the Phase 2 clinical development of PTX-100, Prescient’s pioneering targeted cancer therapy designed to disrupt critical oncogenic pathways.
The company has also entered a trading halt to facilitate a follow-on placement to sophisticated and professional investors at the same share price, representing an 11.1% discount to the last traded price on July 28, 2025. This move responds to shareholder demand for increased investment opportunities beyond the $30,000 limit of the SPP.
PTX-100 – A Unique Therapeutic Candidate
PTX-100 is a first-in-class inhibitor of geranylgeranyl transferase-1 (GGT-1), an enzyme integral to cancer cell growth and survival. By blocking this enzyme, PTX-100 disrupts multiple oncogenic Ras pathways, triggering apoptosis in cancer cells. The therapy has demonstrated safety and early efficacy signals in prior Phase 1 studies and a recent Phase 1b expansion cohort focused on T cell lymphomas.
Notably, the US Food and Drug Administration (FDA) has granted PTX-100 Orphan Drug Designation for all T cell lymphomas and Fast Track Designation for relapsed or refractory mycosis fungoides, the most common subtype of cutaneous T cell lymphoma (CTCL). The ongoing Phase 2 trial aims to enroll up to 40 patients globally, underscoring the company’s commitment to addressing significant unmet medical needs.
Expanding the Immunotherapy Toolbox
Beyond PTX-100, Prescient is advancing innovative cell therapy platforms designed to enhance the efficacy and durability of adoptive cell therapies. CellPryme-M improves T cell persistence and tumor penetration during manufacturing, while CellPryme-A acts as an adjuvant to overcome the suppressive tumor microenvironment, boosting CAR-T cell expansion and tumor killing.
The OmniCAR platform represents a modular, universal immune receptor system enabling controllable T-cell activity and multi-antigen targeting with a single cell product. This technology could allow for more flexible and sustained immune responses against diverse tumor antigens, positioning Prescient at the forefront of next-generation cellular immunotherapies.
Looking Ahead
CEO James McDonnell expressed gratitude to shareholders for their support, highlighting the capital raise as a pivotal step toward commercialisation. With the SPP shares expected to be allotted by early August, Prescient is well-positioned to advance its clinical programs and engage with regulatory authorities to bring PTX-100 and its complementary platforms closer to patients.
Bottom Line?
Prescient’s fresh capital and strategic placement set the stage for critical Phase 2 milestones and potential regulatory breakthroughs.
Questions in the middle?
- What is the expected timeline for Phase 2 trial readouts and regulatory submissions?
- How large will the follow-on placement be, and what impact might it have on share dilution?
- What are the prospects for commercial partnerships or licensing deals for PTX-100 and cell therapy platforms?
