CytoMed Therapeutics Reports Full Year Ended December 31, 2024 Financial Results and Provides Clinical and Corporate Updates

Core Insights - CytoMed Therapeutics Limited is focused on developing affordable donor-derived, cell-based allogeneic immunotherapies, targeting the ASEAN region and North Asia with a population exceeding two billion [2][22] - The company reported a reduced net loss of US$1.85 million for the year ended December 31, 2024, a 39% improvement from US$3.03 million in 2023, primarily due to lower operational costs [4][3] - CytoMed is advancing its clinical trials, including the ANGELICA trial, which is the first-in-human CAR T trial using donor-derived gamma delta T cells [9][10] Financial Performance - Topline income for 2024 was US$624,771, an increase from US$588,423 in 2023 [3] - Cash and bank balances decreased to US$3.64 million as of December 31, 2024, down from US$6.58 million in 2023, but are expected to fund operations through at least 2026 [5] - Research expenses rose to US$1.40 million in 2024 from US$1.16 million in 2023, driven by higher clinical trial costs [6] Clinical Developments - The ANGELICA trial, approved in Singapore, began dosing patients in November 2024, focusing on the use of gamma delta T cells for various cancers [9][10] - A Phase II Investigator Initiated Trial in India is set to commence patient recruitment in the second half of 2025, utilizing CytoMed's manufactured cells [11] - The company is also developing iPSC-derived hybrid immune cells for cancer treatment and has received trial approvals for other conditions [14] Corporate Strategy - CytoMed is exploring a joint venture in China to enhance low-cost cell manufacturing and expand its market reach [16] - The acquisition of a licensed cord blood bank in Malaysia aims to support the development of cord blood-derived therapeutics for autoimmune diseases and cancers [17] - The company plans to establish a liaison office in New York to strengthen its presence in the U.S. market and explore strategic partnerships [19] Future Outlook - An important milestone for 2025 includes the initial clinical readout of the ANGELICA trial and the submission of a U.S. FDA IND application for gamma delta T cells [18] - The company aims to implement alternative revenue-generating methods to assist late-stage patients and capitalize on the growing medical tourism market in Asia [20] - Financial prudence is emphasized, with plans to strengthen financials and prepare for potential mergers and acquisitions in 2025 [21]