PharmaCyte Biotech Provides Corporate Update on Cell-in-a-Box Technology

PharmaCyte Biotech, Inc. recently provided an update on its investigation of its Cell-in-a-Box technology and initial next steps in development. Following a comprehensive scientific review of amassed data, the company is in the process of requesting a meeting with the US FDA for guidance on further development of the technology. The meeting is expected to occur during the first quarter of 2024. In the meantime, the company is reviewing multiple potential opportunities it believes would be prudent uses for its approximately $74.6 million cash position as of July 31, 2023, which was previously reported in the company’s Quarterly Report on Form 10-Q filed on September 18, 2023.

PharmaCyte’s Board member, Professor of Surgery and Microbiology and Dean, College of Medicine – Tucson at the University of Arizona, Dr. Michael M.I. Abecassis, said “Despite recent advances with modest improvements in survival, locally advanced non-metastatic disease remains a perplexing challenge and barrier to potentially curative surgical treatment and represents a significant unmet therapeutic need for a majority of patients diagnosed with pancreatic cancer. Cell-in-a-Box, along with several other potential delivery systems, provides a unique putative opportunity to treat patients systemically with non-toxic chemotherapeutic prodrugs, that can then be activated or ‘turned-on’ in direct proximity to the cancer tissue, resulting in the targeted delivery of highly concentrated cancer-killing drugs, while significantly minimizing the systemic toxicity and side-effects that limit their systemic application, and hence their efficacy and effectiveness. We believe discussions with the FDA regarding Cell-in-a-Box should provide a path forward as we continue to examine other promising local delivery technologies that may provide similar benefits for patients with this challenging and lethal clinical problem.”

Pharmacyte Interim Chief Executive Officer Josh Silverman added “We have dedicated significant resources to comprehensively evaluate the status of the Cell-in-a-Box technology, and we look forward to future discussions with FDA, which may also compel us to seek partnership discussions. In the meantime, it is our intention to utilize our favorable $70-million cash position to create additional value to our stockholders by reviewing additional potential partnership and/or investment opportunities we believe will be accretive. We anticipate providing additional updates regarding these opportunities in the near-term.”

PharmaCyte is a biotechnology company that is currently evaluating its signature live-cell encapsulation technology, Cell-in-a-Box, for potential development of cellular therapies for cancer, diabetes, and malignant ascites, while also exploring the opportunity for other strategic acquisitions.

The Cell-in-a Box technology involves encapsulating genetically engineered human cells that can then be reintroduced to attack disease. The company is exploring possible utility in cancer (particularly pancreatic), Type 1 and insulin-dependent Type 2 diabetes, and malignant ascites. However, until the review by the Business Review Committee and the Board is complete and the Board has determined the actions and plans to be implemented, the Board has curtailed spending on the foregoing programs.