Chimeric Therapeutics (ASX:CHM) has received a $2.5 million advance from Endpoints Capital, leveraging its anticipated FY25 Research and Development Tax Incentive (RDTI). This funding agreement provides Chimeric with early access to a portion of its expected RDTI, secured against the future tax refund from the Australian Taxation Office. The funds will support Chimeric’s clinical trial pipeline and bolster general working capital, reinforcing the company’s financial position following a $6.6 million placement, a $1 million entitlement offer, and $4 million in non-dilutive funding secured in recent months. The facility incurs interest at a commercial rate and is repayable upon receipt of the FY25 RDTI, expected by December 31, 2025, with an option for early repayment subject to a minimum 60-day interest period.
The Australian Government’s RDTI program offers companies engaged in eligible R&D activities a refundable tax offset of up to 43.5%. Chimeric Therapeutics, a clinical-stage cell therapy company, focuses on developing innovative cell therapies for cancer treatment. Its diversified portfolio includes autologous CAR T-cell therapies and allogeneic NK cell therapies, with four clinical-stage programs targeting various oncology indications.
Key assets include CHM CDH17, a first-in-class CDH17 CAR T therapy currently in a phase 1/2 clinical trial for gastrointestinal and neuroendocrine tumors. Preclinical data demonstrated complete tumor eradication in seven cancer types in mice. CHM CLTX, a novel CAR T therapy for solid tumors, is undergoing a phase 1B clinical trial for recurrent glioblastoma. CHM CORE-NK, a clinically validated NK cell platform, has shown safety and efficacy in blood cancers and solid tumors in a phase 1A trial, leading to two additional phase 1B trials investigating CORE-NK in combination regimens. Endpoints Capital, the funding provider, specializes in R&D finance solutions for biotechnology companies accessing the Australian RDTI scheme.
