Captor Therapeutics applied to the National Center for Research and Development (NCBR) to end the contract for co-financing the CT-04 project (development and development of the first-in-class drug candidate, small molecule degrader, in the treatment of colorectal cancer) and informed the Center about its intention to apply for final payment, reported Captor. The company estimates that it will not be obliged to return any funds received and used so far. At the same time, it intends to continue research and development in the field of CT-04 using its own resources. "The company's decision and the submission of the above letter result from delays in the implementation of the CT-04 project, which, in the company's opinion, at the moment, the company is unable to achieve further milestones agreed with the NCBR within the time limit provided for in the co-financing agreement, i.e. by the end of 2023. The above delays are due to problems with the complexity of the original lead series and the need to search for additional chemical series [...] that the molecular target of the project remains very attractive and has high potential, it has encountered specific research challenges, and that achieving the desired level of inhibition of the selected molecular target is a goal that takes longer than originally envisaged.[...] Regardless of the above, in the opinion of Captor Therapeutics and the biotechnological environment, the molecular target in the CT-04 project, as well as therapeutic indications, i.e. colorectal cancer, constitute a very attractive area for pharmacological intervention and, above all, there is a highly unmet market need in this respect. Captor Therapeutics conducts drug research and development projects and projects focused on the development of the technology platform. The company has been listed on the main market of the WSE since 2021. Source
04.11.2022