Celyad Oncology (CYAD), which recently filed for chapter 11 bankruptcy protection and entered into agreement for sale of certain assets, said Wednesday that it has decided to discontinue the development of its remaining clinical program CYAD-211 (the allogeneic shRNA-based, anti-BCMA CAR T candidate for relapsed or refractory multiple myeloma).
There were no safety concerns leading to this decision and all patients previously treated with CYAD-211 will continue to receive their protocol-defined follow-up, the company said.
In an update on its Celyad 2.0 business strategy, Celyad Oncology said that it intends to focus on maximizing its valuable intellectual property (IP) estate, and strengthening its research focus.
Celyad 2.0 will prioritize discovery research in areas of expertise where it can leverage the differentiated nature of its platforms. The company is implementing a differentiated and innovative strategy, tackling the major current limitations of CAR T-cell therapies
The strategy includes development of B7-H6-targeting immunotherapies as the Company believes that B7-H6 is an underappreciated target that could change the paradigm of cell therapy due to its broad expression in a large variety of cancers.
Celyad Oncology is of the opinion that it will potentially create more shareholder value by licensing its patent estate and further strengthening its research efforts to improve the differentiated nature of its platforms.
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