Key Updates from Percheron Therapeutics
- Part of the license agreement executed with Hummingbird Bioscience in June 2025
- Percheron has received certificate of analysis for new batch
- Final release and consignment to Percheron remains on schedule for late June
- Preparing to package drug substance in vials
Major Milestone in HMBD-002 Development
Biotechnology company Percheron Therapeutics (ASX:PER) has achieved a significant milestone in the commercial development of HMBD-002, a novel checkpoint involved in the body’s immune response to cancer. This development marks an important step forward in the company’s efforts to bring this innovative treatment to market.
The company recently announced that the manufacture of HMBD-002’s drug substance for forthcoming clinical trials has been completed. This achievement comes after Percheron signed an exclusive worldwide license with Hummingbird Bioscience in June 2025 to develop, manufacture, and commercialise HMBD-002.
Collaboration with Hummingbird Bioscience
Dr James Garner, CEO of Percheron, expressed gratitude to the Hummingbird team for overseeing the manufacturing campaign. He highlighted that the successful completion of this project is very timely, as the company plans to use the material in a new clinical trial over the coming months.
“Beyond supporting planned clinical work, this campaign has provided an opportunity for the Percheron team to closely follow the process with Hummingbird, leaving us well equipped to manage future manufacturing runs ourselves,” Dr Garner said.
He also noted that the manufacture of biologic drugs such as HMBD-002 is often complex. Unlike ‘small molecule’ chemical drugs, HMBD-002 is manufactured in living organisms, specifically a recombinant CHO cell expression system. This requires specialist expertise and dedicated facilities to meet the stringent good manufacturing practice (GMP) requirements necessary for clinical trials.
License Agreement Details
Under the license agreement between Percheron and Hummingbird, the latter was responsible for the manufacture of one batch of drug substance for use in future clinical trials. This arrangement not only accelerated but also de-risked the availability of clinical material.
“The Percheron team have been intimately involved in the campaign as observers, providing the company with invaluable experience and insight into the specific aspects of HMBD-002 manufacture,” Dr Garner added.
Future batches will be the sole responsibility of Percheron. The company will now focus on ‘fill and finish’ activities, in which the drug substance is placed in vials and packaged for shipping to investigational trial sites. This work is expected to be completed in 3Q CY2026.
Market Update
Percheron Therapeutics is steady at 0.5¢. Mkt cap $6.850M.
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