Cessatech: Welcome to 2023 and our January business update...
We welcome the year 2023 which is a very exiting year for Cessatech, we are expecting many milestone and we want to give you and update on our progress. First, we have changed our communication focus, and will talk about different themes that are related to the success of Cessatech. The first being Working Smart, as Repurposing and Collaborations are fundamental to our aspirations. The second is obviously our Pipeline. The rest will come in our business updates to come...
Working Smart. Repurposing and Collaborations
In 2022 we expanded the team preparing us for the further development of our pipeline, as well as our future plans, which is very much all about partnerships both for the development of CT001 and later potential commercialisation. Our partnerships shortens the time to market and reduce risk. We select them carefully, and spend much effort and time on making the collaborations work. It can at times be hard work, but also extremely rewarding when it really goes well. As a company we are much more flexible and close to expert input.
We recently welcomed Helle Sickmann Bendixen, as Head of Clinical Development and Operations and Martin Juhl, as Head of CMC and Device. Both with extensive experience and a true asset to Cessatech. We also welcomed Rachel Gravesen to the Board of Directors - Rachael has an extensive experience from Genmab and Novo Nordisk working with Communication and IR. All her input is highly appreciated.
Pipeline update - CT001
During 2022 we advanced the development of our nasal spray (CT001) for acute pain in children:
Successful outcome of phase 2 pharmacokinetics trial (0206) in children undergoing elective surgical procedures, thus demonstrating that CT001 nasal spray is feasible as premedication in children undergoing anaesthesia. Further the first patient was dosed in pivotal trial (0205) in adult patients - this trial investigates the postoperative analgesic efficacy of CT001.
Financials - ready for 2023.
Cessatech is entering 2023 with a good cash position - further extended by a successful execution of the rights issue in Q4 2022 raising approximately DKK 14,7 mill before transaction costs.
In 2023 we plan to further advance of our pipeline with a focus on our nasal spray (CT001) for acute pain in children. We expect top-line results of the 0205 trial and hopefully a commercial partnership collaboration.