CRISM Therapeutics (LSE:CRTX) has been awarded an £896,088 non-dilutive grant through Innovate UK’s Biomedical Catalyst programme, providing funding for 70% of the costs associated with Part 1 of its open-label, Phase 2 registration-grade trial of irinotecan-ChemoSeed in patients undergoing surgical resection for glioblastoma.
The grant, which was awarded through a highly competitive process, complements the company’s recent equity fundraising efforts and provides further validation of both its technology platform and clinical development strategy. The funding strengthens CRISM’s financial position as it advances treatments in an area of oncology where therapeutic options remain limited.
The 12-month programme will be conducted at several leading neuro-oncology centres across the UK. The study aims to generate key safety, dosing and preliminary efficacy data that could support future regulatory submissions and potential adoption of irinotecan-ChemoSeed within the NHS.
Should the trial deliver positive outcomes, CRISM could benefit from faster clinical acceptance of the treatment in recurrent glioblastoma while also improving opportunities for strategic partnerships, licensing agreements and wider commercial deployment of the ChemoSeed platform across additional cancer indications.
Despite this development, the company continues to face financial challenges. Revenue remains limited, while losses and negative free cash flow persist, although recent trends indicate improvements in cash burn and operating losses. CRISM also maintains a debt-free balance sheet. From a market perspective, technical indicators remain constructive, though a high Relative Strength Index (RSI) suggests the shares may be approaching overbought territory in the near term. Valuation metrics remain difficult to assess given the absence of earnings and dividend support.
More About CRISM Therapeutics Corporation
CRISM Therapeutics Corporation is a UK-based clinical-stage drug delivery company focused on developing technologies that enable localised, sustained chemotherapy delivery for the treatment of solid tumours. Its flagship product, ChemoSeed, is a biodegradable implant designed to deliver concentrated chemotherapy directly to tumours or surgical resection sites. The technology is being developed for use in glioblastoma and other cancers, helping overcome challenges such as the blood-brain barrier that can limit the effectiveness of conventional treatments.
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