Chimeric Therapeutics raises $8.4M to fund CHM CDH17 CAR-T trial

Chimeric Therapeutics (ASX:CHM) has secured firm commitments totaling $8.4 million, comprising a $4.4 million two-tranche placement and a $4 million convertible note, to fully fund its lead CHM CDH17 CAR-T Phase 1/2 clinical trial through the end of Phase 1.

The funding will support the next patient cohort at an increased dose level following encouraging early safety and disease control results, and remove near-term funding risk for the company’s lead asset.

The placement includes a US$2 million commitment from a US-based family office, with the convertible note subscribed by a second US institutional investor.

The capital raising will also underpin a broader strategic and operational reset, including a targeted expense-reduction program, proposed share consolidation, board renewal, and a streamlined clinical oversight model following the resignation of Chief Medical Officer Dr Jason B. Litten.

Chimeric CEO Dr Rebecca McQualter said the funding enables the company to maintain momentum across its clinical pipeline while entering a more disciplined, execution-focused phase heading into 2026, with multiple near-term clinical updates expected.

At the time of reporting, Chimeric Therapeutics' share price was $0.0030.