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Singaporean preclinical cancer biotech CytoMed Therapeutics files for a $15 million US IPO

November 18, 2022

CytoMed Therapeutics, a Singaporean preclinical biotech developing gamma-delta T cell therapies for cancer, filed on Friday with the SEC to raise up to $15 million in an initial public offering.

The company is developing three product candidates built on a proprietary platform it has licensed from Singapore-based R&D agency A*STAR. Its lead candidate, CTM-N2D, consists of expanded gamma delta T cells grafted with NKG2DL-targeting CAR to enhance anti-cancer cytotoxicity. CytoMed Therapeutics is currently finalizing a trial of CTM-N2D with the National University Hospital Singapore, following the grant of a CTA in July 2022, and plans to begin recruiting patients in the 2H23.

The Singapore-based company was founded in 2018 and plans to list on the Nasdaq under the symbol GDTC. CytoMed Therapeutics filed confidentially on September 28, 2021. The Benchmark Company and Axiom Capital Management are the joint bookrunners on the deal. No pricing terms were disclosed.