Successful cancer biotech entrepreneur with $394m exit, founds new ASX listed cancer biotech company

June 5, 2021 | Alerts | Healthcare | Public

This successful industry entrepreneur, who sold his previous cancer focused biotech company for $394m, has founded an ASX listed cancer focused biotech company.

Paul Hopper was the founder of Viralytics, which was bought by healthcare behemoth Merk for $394m.

Viralytics is an Australian biotechnology company working in the field of oncolytic viruses, that is, viruses that preferentially infect and kill cancer cells. The company’s oncolytic virus product, called Cavatak, is currently in clinical trials in metastatic melanoma and other cancers.

Paul has recently founded Chimeric Therapeutics, which is newly listed on the ASX under the ticker ASX:CHM.

Chimeric Therapeutics is an ASX listed company developing ground-breaking CAR T cell therapies for solid tumors based on research at the City of Hope Cancer Centre in Los Angeles. The technology known as CLTX-CAR T, uses chlorotoxin, a peptide discovered in scorpion venom, as the tumor targeting component of the CAR to reprogram T cells and is currently undergoing Phase 1 clinical trials at City of Hope in glioblastoma.

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