Getting production in order

TxCell has agreed an important manufacturing supply contract with Lentigen, a German-US producer of the critical lentivirus reagent essential for modifying T-cells. This is a core element for the development of CAR-modified regulatory T-cells (CAR Treg). Production of any modified T-cell therapy is complex and companies need to be able to scale up production and keep costs and prices under control. In 2018, warrants could bring a further €10.8m in cash covering costs until the IND is filed for the first ever CAR Treg clinical trial. Our indicative valuation remains at €74m.