Aussie jobs to go after trial failure

The need to abandon a clinical trial has seen ASX-listed Chimeric Therapeutics hit hard times with cost-cutting and job losses on top of pivoting to a different technology to treat gastrointestinal cancers as the biotech shops around for a buyer.

The study stopped enrolling autologous CAR-T treatment CHM-2101 after a second patient in Dose Level 3 experienced non-fatal dose limiting toxicities, including gastrointestinal fistula, rectal pain, and pelvic infection. Only four patients had made it to that dosage level before the study was cancelled. 

"This is a disappointing outcome, and my first thoughts are with the patients who participated in this trial and with the clinicians and families who supported them," Chimeric Non-Executive Chairman, Bradley Glover, said. "I also acknowledge the Chimeric employees affected by the cost reductions announced today."