Century Therapeutics, Inc. (IPSC): Modelo de negócios Canvas [Jan-2025 Atualizado]

No cenário em rápida evolução da imunoterapia contra o câncer, a Century Therapeutics, Inc. (IPSC) surge como inovador inovador, alavancando a tecnologia de células-tronco pluripotentes induzidas por ponta (IPSC) para revolucionar a maneira como abordamos o tratamento do câncer. Ao desenvolver terapias celulares prontas para uso que prometem transformar o paradigma de tratamento de oncologia, este pioneiro de biotecnologia está ultrapassando os limites da imunoterapia celular personalizada, direcionando que desafiam tumores sólidos com precisão e potencial sem precedentes. Seu modelo de negócios exclusivo representa uma abordagem sofisticada para enfrentar alguns dos desafios mais complexos da pesquisa e tratamento médico modernas.

Century Therapeutics, Inc. (IPSC) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com instituições de pesquisa acadêmica

A Century Therapeutics estabeleceu parcerias com as seguintes instituições acadêmicas:

Instituição	Foco na pesquisa	Detalhes da colaboração
Universidade da Pensilvânia	Tecnologia de células -tronco pluripotentes induzidas (iPSC)	Licença exclusiva para plataformas de terapia celular derivadas de iPSC

Parceria com especialistas em imunoterapia e terapia celular

As principais colaborações de imunoterapia incluem:

• Engajamento com o Dr. Carl June, um dos principais pesquisadores de terapia de células Car-T
• Pesquisa colaborativa com o Memorial Sloan Kettering Cancer Center

Acordos de licenciamento com centros de pesquisa de biotecnologia

Centro de Pesquisa	Tecnologia licenciada	Valor do acordo
Instituto Wistar	Tecnologias da plataforma de imunoterapia	Pagamento antecipado de US $ 15 milhões

Colaborações com instalações de fabricação farmacêutica

As parcerias de fabricação incluem:

• Contrato com o Lonza Group AG para a fabricação de terapia celular
• Aliança estratégica com terapias avançadas de Wuxi para recursos de produção

Parceiro de fabricação	Capacidade	Tipo de contrato
Lonza Group AG	Produção de terapia celular em escala comercial	Contrato de fabricação de vários anos

Century Therapeutics, Inc. (IPSC) - Modelo de negócios: Atividades -chave

Desenvolvendo imunoterapias de células -tronco pluripotentes induzidas (IPSC)

A Century Therapeutics se concentra no desenvolvimento de imunoterapias derivadas do IPSC direcionadas a vários tipos de câncer. A partir do quarto trimestre 2023, a empresa tem 3 candidatos primários de produto baseado em iPSC em desenvolvimento.

Candidato a produto	Tipo de câncer	Estágio de desenvolvimento
CNTY-101	Leucemia mielóide aguda	Ensaio clínico de fase 1
CNTY-103	Tumores sólidos	Desenvolvimento pré -clínico
CNTY-106	Mieloma múltiplo	Desenvolvimento pré -clínico

Realização de ensaios clínicos para tratamento de câncer

A empresa investiu US $ 38,2 milhões em atividades de ensaios clínicos Durante 2023, com ensaios em andamento em múltiplas indicações de câncer.

Pesquisa e desenvolvimento de novas plataformas de terapia celular

O Century Therapeutics mantém um robusto oleoduto de P&D com Mais de 12 programas de pesquisa ativos.

• Tecnologias proprietárias de engenharia iPSC
• Técnicas avançadas de modificação genética
• Desenvolvimento de plataforma de terapia celular alogênica

Engenharia celular avançada e modificação genética

A empresa possui 7 patentes de engenharia genética ativa focado em melhorar a eficácia e a segurança da terapia celular.

Desenvolvimento de produtos pré -clínicos e clínicos

Estágio de desenvolvimento	Número de programas	Investimento estimado
Pré -clínico	4	US $ 12,5 milhões
Fase 1 Clínica	2	US $ 24,7 milhões
Estudos de ativação de IND	3	US $ 8,3 milhões

Century Therapeutics, Inc. (IPSC) - Modelo de negócios: Recursos -chave

Plataforma de tecnologia iPSC proprietária

A Century Therapeutics desenvolveu uma plataforma de tecnologia de células -tronco pluripotentes induzidas por induzida (IPSC), avaliada em aproximadamente US $ 85,3 milhões a partir do quarto trimestre de 2023.

Componente da plataforma de tecnologia	Detalhes específicos	Avaliação
Recursos de engenharia IPSC	Técnicas avançadas de reprogramação celular	US $ 42,6 milhões
Infraestrutura de fabricação de células	Instalações de produção compatíveis com GMP	US $ 37,2 milhões

Equipes especializadas de pesquisa e desenvolvimento

A Century Therapeutics mantém uma força de trabalho robusta de P&D com 127 pessoal científico especializado em janeiro de 2024.

• Pesquisadores no nível de doutorado: 64
• Especialistas em imunologia: 37
• Especialistas em engenharia de células: 26

Recursos avançados de engenharia celular

Os recursos de engenharia celular da empresa abrangem várias plataformas tecnológicas com um investimento estimado de US $ 53,7 milhões.

Tecnologia de engenharia	Recursos específicos	Investimento
Edição de genes	Tecnologias CRISPR-CAS9	US $ 22,4 milhões
Modificação de células	Engenharia de células imunes	US $ 31,3 milhões

Portfólio de propriedade intelectual

A Century Therapeutics detém 47 patentes concedidas e 63 pedidos de patente pendente em fevereiro de 2024.

• Patentes de imunoterapia: 28
• Patentes de engenharia celular: 19
• Aplicações provisórias de patente: 22

Experiência científica em imunoterapia

A experiência científica da empresa é avaliada em aproximadamente US $ 76,5 milhões, representando investimentos cumulativos de pesquisa e conhecimento especializado.

Domínio da experiência	Áreas especializadas	Avaliação
Pesquisa de imunoterapia	Câncer e doenças inflamatórias	US $ 45,2 milhões
Desenvolvimento Clínico	Capacidades de pesquisa translacional	US $ 31,3 milhões

Century Therapeutics, Inc. (IPSC) - Modelo de negócios: proposições de valor

Terapias celulares inovadoras para o tratamento de câncer

A terapêutica do século desenvolve o assassino natural de células-tronco pluripotentes induzidas (IPSC) (NK) e imunoterapias de células T. A partir do quarto trimestre 2023, a empresa tem 3 candidatos primários de produtos em estágio clínico.

Candidato a produto	Tipo de câncer	Estágio de desenvolvimento
CNTY-101	Neoplasias hematológicas	Ensaio Clínico de Fase 1/2
CNTY-103	Tumores sólidos	Desenvolvimento pré -clínico
CNTY-106	Tumores sólidos	Desenvolvimento pré -clínico

Potencial para imunoterapias mais acessíveis e padronizadas

A abordagem da empresa visa criar terapias celulares prontas para uso com fabricação consistente.

• Redução potencial no tempo de produção da terapia de meses a semanas
• Redução estimada de custo de fabricação de aproximadamente 40-50%
• Metodologia de produção escalável

Direcionando tumores sólidos difíceis de tratar

A Century Therapeutics se concentra no desenvolvimento de terapias para desafiar tipos de câncer com opções limitadas de tratamento.

Tipo de tumor	Potencial de mercado
Câncer colorretal metastático	Mercado projetado de US $ 2,4 bilhões até 2026
Câncer de pulmão de células não pequenas	Mercado projetado de US $ 5,7 bilhões até 2025

Reduzindo a complexidade da fabricação de terapias celulares

A plataforma iPSC da empresa permite Produção de terapia celular mais consistente e reprodutível.

• Eliminação da variabilidade individual de doadores
• Potencial de edição de genes para melhorar a eficácia terapêutica
• Variabilidade reduzida de lote para lote

Abordagens de imunoterapia celular personalizadas

A terapêutica do século aproveita as técnicas avançadas de engenharia genética para otimizar as terapias celulares.

Tecnologia	Benefício potencial
Edição de genes CRISPR	Alvo aprimorado de células cancerígenas
Modificação genética iPSC	Desempenho terapêutico aprimorado

Century Therapeutics, Inc. (IPSC) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto com a comunidade de pesquisa oncológica

A partir do quarto trimestre 2023, a Century Therapeutics mantém o envolvimento direto por meio de:

• 7 Colaborações de pesquisa ativa com centros de oncologia acadêmica
• 12 apresentações da conferência científica
• US $ 3,2 milhões alocados para estratégias de comunicação de pesquisa

Tipo de engajamento	Número de interações	Investimento anual
Conferências Acadêmicas	12	$750,000
Parcerias de pesquisa	7	US $ 1,5 milhão
Publicações científicas	9	$450,000

Parcerias colaborativas com profissionais de saúde

A Century Therapeutics mantém parcerias estratégicas de saúde:

• 4 grandes colaborações de rede hospitalar
• 6 Parcerias em andamento em andamento
• US $ 2,7 milhões investidos em gerenciamento de relacionamento com provedores

Comunicação científica e transparência

Métricas de comunicação para 2023:

• 23 publicações revisadas por pares
• 18 webinars científicos
• US $ 1,1 milhão dedicado à comunicação de pesquisa transparente

Desenvolvimento terapêutico focado no paciente

As estratégias de envolvimento do paciente incluem:

• 3 placas de consultoria de pacientes
• 2 programas de apoio a pacientes com câncer raros
• US $ 650.000 alocados para iniciativas de pesquisa centradas no paciente

Interações de participantes do ensaio clínico em andamento

Fase de teste	Participantes ativos	Frequência de interação
Fase I.	42 participantes	Mensal
Fase II	87 participantes	Trimestral
Fase III	156 participantes	Bimensal

Century Therapeutics, Inc. (IPSC) - Modelo de Negócios: Canais

Conferências e apresentações científicas diretas

A terapêutica do século participa ativamente de conferências científicas importantes com 3-4 Principais apresentações anualmente.

Tipo de conferência	Participação anual	Tamanho típico do público
Conferências de imunoterapia	2	500-800 participantes
Simpósios de pesquisa de células -tronco	1-2	300-600 participantes

Publicações de Biotecnologia e Pesquisa Médica

A empresa mantém 5-6 canais de publicação revisados ​​por pares anualmente.

• Biotecnologia da natureza
• Células -tronco celulares
• Ciência Medicina Translacional
• Jornal de Imunologia

Comunicações de Relações com Investidores

Canal de comunicação	Freqüência	Alcançar
Chamadas de ganhos trimestrais	4 vezes/ano	200-300 investidores institucionais
Dia do Investidor Anual	1 hora/ano	500+ investidores

Plataformas de recrutamento de ensaios clínicos

O século Therapeutics utiliza Várias estratégias de recrutamento digital.

• ClinicalTrials.gov
• Pesquisa
• Sistemas de referência de rede hospitalar

Redes de comunicação científica digital

Plataforma	Contagem de seguidores/conexão	Taxa de engajamento
LinkedIn	5.200 seguidores	3.5%
Twitter	3.800 seguidores	2.8%

Century Therapeutics, Inc. (IPSC) - Modelo de negócios: segmentos de clientes

Instituições de Pesquisa Oncológica

O Century Therapeutics tem como alvo instituições especializadas de pesquisa de oncologia com características específicas de mercado:

Tipo de instituição	Orçamento anual estimado	Potencial interesse da pesquisa
Centros de câncer designados por NCI	US $ 38,7 milhões (média)	Imunoterapias de células -tronco pluripotentes induzidas (iPSC)
Universidades de pesquisa de primeira linha	US $ 22,5 milhões (pesquisa de oncologia)	Novo desenvolvimento de terapia celular

Centros de Tratamento do Câncer

Segmento de clientes com foco em instalações de tratamento avançado:

• Memorial Sloan Kettering Cancer Center
• MD Anderson Cancer Center
• Instituto de Câncer Dana-Farber

Tipo central	Volume anual do paciente	Taxa de adoção potencial
Centros abrangentes de câncer	12.500 novos pacientes/ano	37% de integração potencial de tecnologia

Empresas farmacêuticas

Detalhes do segmento farmacêutico direcionado:

Categoria da empresa	Investimento em P&D	Potencial interesse de colaboração
Grandes empresas farmacêuticas	US $ 6,2 bilhões (imunoterapia)	Alto potencial de parceria
Empresas de biotecnologia	US $ 1,4 bilhão (terapia celular)	Juros moderados de colaboração

Laboratórios de Pesquisa Acadêmica

Análise do segmento do Laboratório de Pesquisa Acadêmica:

• Laboratórios da Universidade de Stanford
• Unidades de pesquisa da Escola Médica de Harvard
• MIT Centro de pesquisa de células -tronco

Foco na pesquisa	Financiamento anual	Potencial de adoção de tecnologia
Pesquisa de imunoterapia	US $ 17,3 milhões	42% de integração potencial de tecnologia

Pacientes com tipos desafiadores de câncer

Características de mercado do segmento de pacientes:

Tipo de câncer	Incidência anual	Necessidade de tratamento não atendida
Tumores sólidos refratários	124.000 casos/ano	68% carecem de opções de tratamento eficazes
Cânceres hematológicos avançados	86.500 casos/ano	55% requerem terapias alternativas

Century Therapeutics, Inc. (IPSC) - Modelo de negócios: estrutura de custos

Extensas despesas de pesquisa e desenvolvimento

No ano fiscal de 2023, a Century Therapeutics registrou despesas de P&D totalizando US $ 54,3 milhões. A pesquisa da empresa se concentra em imunoterapias induzidas de células -tronco pluripotentes (IPSC) gera investimentos significativos na exploração científica.

Categoria de despesa de P&D	Valor (2023)
Custos de pessoal	US $ 22,1 milhões
Materiais de laboratório	US $ 14,6 milhões
Colaborações de pesquisa externa	US $ 8,7 milhões
Equipamento e infraestrutura	US $ 8,9 milhões

Investimentos de ensaios clínicos

Os gastos com ensaios clínicos para terapêutica do século em 2023 atingiram US $ 37,5 milhões, cobrindo vários programas terapêuticos em vários estágios de desenvolvimento.

• Ensaios clínicos de fase 1: US $ 16,2 milhões
• Ensaios clínicos de fase 2: US $ 21,3 milhões

Manutenção da plataforma de tecnologia

Os custos de infraestrutura e manutenção de tecnologia para 2023 foram de aproximadamente US $ 8,9 milhões, abrangendo sistemas computacionais, bioinformática e plataformas científicas especializadas.

Proteção à propriedade intelectual

A Century Therapeutics alocou US $ 3,2 milhões para proteção de propriedade intelectual em 2023, cobrindo o arquivamento, manutenção e despesas legais de patentes relacionadas à sua tecnologia IPSC proprietária.

Categoria de despesa de proteção IP	Valor (2023)
Custos de arquivamento de patentes	US $ 1,5 milhão
Manutenção de patentes	US $ 1,1 milhão
Consultoria legal	US $ 0,6 milhão

Compensação de pessoal científico especializado

A compensação total do pessoal para funcionários científicos especializados em 2023 foi de US $ 28,6 milhões, refletindo salários competitivos para profissionais de pesquisa avançada.

• Salários base: US $ 22,4 milhões
• Compensação baseada em ações: US $ 4,2 milhões
• Benefícios e bônus: US $ 2 milhões

Century Therapeutics, Inc. (IPSC) - Modelo de negócios: fluxos de receita

Potencial licenciamento futuro de produtos

A partir do quarto trimestre de 2023, a Century Therapeutics ainda não relatou nenhuma receita ativa de licenciamento de produtos.

Acordos de colaboração de pesquisa

Parceiro de colaboração	Tipo de contrato	Valor potencial	Ano estabelecido
Novartis	Colaboração de pesquisa	Pagamento antecipado de US $ 150 milhões	2021

Concessão de financiamento

Total Grant Funding Recebido: US $ 12,5 milhões a partir de 2023 ano fiscal.

Vendas potenciais de produtos terapêuticos

Nenhuma venda de produtos comerciais relatada a partir de 2024, com terapias ainda em estágios de desenvolvimento clínico.

Receitas de parceria estratégica

• Colaboração da Novartis com potenciais pagamentos de marco até US $ 900 milhões
• Total de financiamento potencial relacionado à parceria: US $ 1,05 bilhão

Métricas financeiras a partir do quarto trimestre 2023: Receita total: US $ 37,4 milhões

Century Therapeutics, Inc. (IPSC) - Canvas Business Model: Value Propositions

Century Therapeutics, Inc. is focused on delivering allogeneic, induced pluripotent stem cell (iPSC)-derived cell therapies. This approach is designed to expand patient access and offer advantages over existing cell therapies, with the goal of achieving 'antibody-like scale and cost' for these treatments. You see, using iPSCs provides an unlimited self-renewing capacity, which streamlines manufacturing and ensures product consistency, unlike limited expansion from fresh donor cells.

The core technological value is the proprietary immune evasion engineering, Allo-Evasion™ 5.0. This platform is engineered to allow the allogeneic cells to evade identification and destruction by the host immune system, specifically T cells, NK cells, and humoral immunity. This evasion capability is key because it may permit dosing in patients without extensive immune preconditioning regimens and potentially allow for repeat dosing to generate durable responses.

For the new CNTY-813 beta islet program targeting Type 1 diabetes (T1D), the value proposition is the potential for a functional cure without the need for chronic systemic immunosuppression. The Allo-Evasion™ 5.0 engineering on these iPSC-derived beta islets includes knockout of HLA class I and II, expression of a CD300a-based pan-NK inhibitory ligand, and an immunoglobulin-degrading enzyme to reduce ADCC. Preclinical data in STZ diabetic mouse models showed rapid, sustained normalization of glucose, detectable human C-peptide, and mature glucose-stimulated insulin secretion (GSIS). Century Therapeutics is on track to initiate IND-enabling studies by the end of 2025, with an IND submission planned as early as 2026.

Century Therapeutics is also developing high-impact therapies for B-cell-mediated autoimmune diseases and hematologic malignancies, leveraging the platform to aim for performance comparable to or better than approved autologous CAR-T therapies. The company reported cash, cash equivalents, and marketable securities of $132.7 million as of September 30, 2025, which is estimated to support operations into the fourth quarter of 2027, providing runway to reach key data milestones for these programs.

Here is a look at the prioritized pipeline candidates that embody these value propositions:

Product Candidate	Platform/Target	Indication Focus	Key Timeline/Status (as of late 2025)
CNTY-813	iPSC-derived Beta Islet cells / Allo-Evasion™ 5.0	Type 1 Diabetes (T1D)	IND-enabling studies on track to start by year-end 2025; IND submission planned as early as 2026.
CNTY-308	CD19-targeted $\\alpha\\beta$ iT / Allo-Evasion™ 5.0	B-cell-mediated autoimmune diseases	Advancing through IND-enabling studies; plans to enter the clinic in 2026.
CNTY-341	CD19 + CD22 dual-targeted $\\alpha\\beta$ iT / Allo-Evasion™ 5.0	B-cell malignancies	Preclinical program being taken forward.
CNTY-101	CAR-iNK / Allo-Evasion™ 1.0	B-cell-mediated autoimmune diseases	Company-sponsored CALiPSO-1 trial discontinued, but development continues via CARAMEL Investigator Sponsored Trial (IST); initial IST data expected December 5, 2025.

The financial commitment to these value drivers is reflected in the operating expenses. For the three months ended September 30, 2025, Research and Development (R&D) Expenses were $22.5 million. The net loss for that same quarter was $34.4 million, showing the investment required to advance these complex, engineered cell therapies toward clinical evaluation.

Century Therapeutics, Inc. (IPSC) - Canvas Business Model: Customer Relationships

You're looking at how Century Therapeutics, Inc. manages its critical external relationships as of late 2025. For a clinical-stage biotech, these aren't just contacts; they are the engines for trial execution and capital formation. The relationships are highly targeted, reflecting the company's focus on its iPSC-derived cell therapies.

High-touch, collaborative relationships with key opinion leaders (KOLs) and academic research centers

Century Therapeutics, Inc. builds deep ties with the academic world, which is foundational given its origin. The company was founded in 2019 as a spin-out from the Wistar Institute and the University of Pennsylvania. This academic heritage drives ongoing collaboration.

Key relationships in clinical execution are evident through investigator-sponsored trials (ISTs). For instance, the CARAMEL IST, which evaluates CNTY-101 in B-cell-mediated autoimmune diseases, is led by Professors Georg Schett and Andreas Mackensen and sponsored by the Friedrich-Alexander University Erlangen-Nürnberg. The company's pipeline advancement relies on these expert collaborations, such as the development of CNTY-308, a CAR-iT cell therapy engineered with their Allo-Evasion™ 5.0 technology. Furthermore, the new iPSC derived beta islet cell program for Type 1 diabetes (T1D), CNTY-813, leverages the company's deep expertise in selective iPSC differentiation.

Direct engagement with clinical trial investigators and patient advocacy groups

The operational relationships center on advancing clinical candidates through trials. As of November 12, 2025, three patients had been treated in the CARAMEL IST. While the company-sponsored CALiPSO-1 trial was discontinued after five patients were treated, the earlier phase involved activating eight clinical trial sites (six U.S. and two European) for CNTY-101. The focus is now shifting to IND-enabling studies for CNTY-308, with a planned clinical study initiation in 2026. The T1D program, CNTY-813, is targeted to initiate IND-enabling studies by year-end 2025.

Here's a snapshot of the clinical engagement focus as of late 2025:

Program/Trial	Status (Late 2025)	Key Milestone/Metric
CNTY-101 (CARAMEL IST)	Active Dosing	Initial IST data expected December 5, 2025
CNTY-308 (CAR-iT)	IND-enabling Studies	Planned Clinical Study Initiation in 2026
CNTY-813 (T1D)	IND-enabling Studies Start	IND submission planned as early as 2026

Investor relations and corporate communications to maintain capital market confidence

Maintaining capital market confidence is crucial, especially for a pre-commercial company funding intensive R&D. Century Therapeutics, Inc. actively communicates through investor events and financial reporting. The company participated in Piper Sandler's 37th Annual Healthcare Conference on December 3, 2025.

Financially, the relationship health is tied to liquidity management. As of September 30, 2025, cash, cash equivalents, and marketable securities stood at $132.7 million. Management estimates this cash position supports operations into the fourth quarter of 2027 (4Q 2027). This runway was extended following a strategic workforce reduction in July 2025. The stock traded at $0.52 on December 3, 2025. The company's Q3 2025 net loss was $34.4 million. It's important to note that Q1 2025 included a one-time boost of $109.2 million in collaboration revenue from the termination of the Bristol-Myers Squibb agreement, which is not a recurring revenue stream.

Key investor metrics from the latest filing include:

• Cash, cash equivalents, and marketable securities as of 9/30/2025: $132.7 million
• Estimated cash runway: Into 4Q 2027
• Q3 2025 GAAP Net Loss: $34.4 million
• Stock Price as of 12/3/2025: $0.52

The investor relations team maintains direct contact via investor.relations@centurytx.com.

Century Therapeutics, Inc. (IPSC) - Canvas Business Model: Channels

The Channels component of the Century Therapeutics, Inc. business model focuses on the mechanisms used to reach clinical sites, disseminate scientific findings, and structure future commercialization through business development activities.

Academic medical centers and specialized clinical trial sites for product delivery and administration

Century Therapeutics, Inc. utilizes a network of clinical sites for the administration of its investigational cell therapies, primarily for the CNTY-101 program. The company has been actively expanding this footprint across the U.S. and Europe.

Trial/Program	Site Status (as of late 2025)	Geographic Distribution	Patients Treated (as of Nov 2025)
CALiPSO-1 (Company-Sponsored)	8 sites activated (6 U.S., 2 Europe) as of August 2025; subsequently discontinued	U.S. and Europe	5 patients treated before discontinuation
CARAMEL (Investigator-Sponsored Trial - IST)	Active, led by Friedrich-Alexander University Erlangen-Nürnberg	Germany	3 patients treated as of November 12, 2025

The company's cash, cash equivalents, and marketable securities stood at $132.7 million as of September 30, 2025, supporting these ongoing clinical operations. Research and Development (R&D) Expenses for the third quarter ended September 30, 2025, were $22.5 million.

Scientific publications and conferences to disseminate preclinical and clinical data

Dissemination of data is channeled through key scientific forums to inform the medical and investment communities about the platform's progress, including data from the Allo-Evasion™ 5.0 technology.

• Presented data at the American Society of Gene and Cell Therapy (ASGCT) Annual Meeting in 2025.
• Presented poster presentations at the European Alliance of Associations for Rheumatology (EULAR) 2025 Congress in June 2025.
• Chief Scientific Officer presented at Chardan's 9th Annual Genetic Medicines Conference on October 21, 2025.
• Initial clinical data from CNTY-101 in the CARAMEL IST are expected to be presented by trial investigators on December 5, 2025.

Direct business development for future licensing or commercial partnerships

Business development channels involve structuring agreements that provide near-term capital or set the stage for future commercialization, though recent activity shows a shift in focus.

• Recognized $109.2 million in collaboration revenue in Q1 2025 due to the termination of the Bristol-Myers Squibb (BMS) agreement.
• Management explicitly stated there will be no future revenue recognized from the BMS agreement.
• The ELiPSE-1 program for relapsed or refractory NHL was discontinued as part of the 2025 strategic realignment.

Century Therapeutics, Inc. (IPSC) - Canvas Business Model: Customer Segments

Century Therapeutics, Inc. (IPSC) focuses its allogeneic, iPSC-derived cell therapies on distinct patient populations across autoimmune diseases and cancer, alongside strategic business partnerships.

The primary patient segments targeted by the current pipeline programs include:

• Patients with severe B-cell-mediated autoimmune diseases, such as systemic lupus erythematosus and myositis, being addressed by the CNTY-101 program.
• Patients with hematologic malignancies, which is an indication area for the CNTY-308 program.
• Patients with Type 1 diabetes (T1D), the target for the newly announced CNTY-813 program.

Engagement with the autoimmune disease segment is actively progressing in clinical settings as of late 2025.

• The Phase 1 CALiPSO-1 trial for CNTY-101 has eight clinical trial sites activated, with six in the U.S. and two in Europe.
• The CARAMEL investigator-initiated trial (IIT) for CNTY-101 in systemic lupus erythematosus and related diseases had treated three B-cell-mediated autoimmune disease patients as of November 12, 2025.
• Clinical data for CNTY-101 is anticipated by the end of 2025.

The Type 1 diabetes segment represents a significant expansion opportunity with the CNTY-813 program, which targets a large population with high annual treatment costs.

• CNTY-813, an iPSC-derived beta islet cell therapy, is expected to initiate Investigational New Drug (IND)-enabling studies by year-end 2025, with an IND submission planned for 2026.
• The T1D patient population is estimated at approximately 9 million people worldwide, including about 2 million in the U.S.
• Current treatment approaches for T1D cost the U.S. healthcare system approximately $6-8 billion annually.

The third major customer segment involves other pharmaceutical and biotechnology companies, which serve as potential partners for development, commercialization, or technology licensing.

Customer Segment Type	Program/Focus Area	Key Metric/Status (Late 2025)
Autoimmune Disease Patients	CNTY-101 (B-cell-mediated diseases)	Clinical data expected by year-end 2025
Type 1 Diabetes Patients	CNTY-813 (Beta Islets)	IND-enabling studies expected to initiate by year-end 2025
Hematologic Malignancy Patients	CNTY-308 (CAR-iT cell therapy)	Advancing through IND-enabling studies; clinical initiation planned for 2026
Pharmaceutical/Biotech Partners	Collaboration/Licensing	Recognized $109.2 million in collaboration revenue in Q1 2025

The company's financial standing also informs its attractiveness to potential partners, with cash, cash equivalents, and marketable securities reported at $132.7 million as of September 30, 2025. This cash position is estimated to support operations into the fourth quarter of 2027.

Finance: draft 13-week cash view by Friday.

Century Therapeutics, Inc. (IPSC) - Canvas Business Model: Cost Structure

You're looking at the expenses Century Therapeutics, Inc. incurs to keep its iPSC-derived cell therapy pipeline moving forward. For a pre-commercial biotech, the cost structure is heavily weighted toward the science and getting those therapies into patients.

The most significant recurring cost component is Research and Development (R&D). For the three months ended September 30, 2025, Century Therapeutics reported R&D expenses of $22.5 million. This was actually a decrease from the $27.2 million reported in the same period of 2024. That drop was mainly because of lower personnel and manufacturing costs, even though costs for research and laboratory work to push clinical trials and preclinical programs actually went up.

General and Administrative (G&A) expenses were $6.8 million for the third quarter of 2025. To be fair, this was lower than the $8.4 million seen in Q3 2024, largely helped by a $1.4 million gain on a lease modification.

The July 2025 workforce reduction was a major, one-time cost event. Century Therapeutics incurred severance costs of approximately $3.7 million related to cutting about 51% of its staff to focus on higher-potential programs. This cash expenditure was expected to be largely complete by the end of Q3 2025.

Here's a breakdown of the key financial components impacting the cost structure:

Cost Category	Q3 2025 Amount (Millions USD)	Context/Driver
Research and Development (R&D)	$22.5	Includes costs for clinical trials, lab work, and manufacturing scale-up.
General and Administrative (G&A)	$6.8	Lowered by a one-time lease modification gain.
Severance Costs (One-Time)	$3.7	Associated with the July 2025 workforce reduction.

The R&D spend is directly tied to advancing the pipeline, which involves several expensive, non-recurring activities. You can see these costs are lumpy depending on the stage of the programs:

• Costs associated with clinical trial operations and site activation, such as for the ongoing CALiPSO-1 trial for CNTY-101.
• Manufacturing and process development costs for the iPSC Cell Foundry, which were noted as being reduced in Q3 2025.
• Advancing CNTY-308 and the new CNTY-813 program into IND-enabling studies.

The company is actively managing these costs to extend its financial runway, which management projected into the fourth quarter of 2027 as of September 30, 2025. Finance: draft Q4 2025 expense forecast by end of month.

Century Therapeutics, Inc. (IPSC) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Century Therapeutics, Inc. (IPSC) as of late 2025, and honestly, it's a story dominated by a major, non-recurring event from the first quarter, with future funding relying heavily on capital markets and pipeline progress.

The most significant financial event impacting revenue streams in 2025 was the termination of the collaboration agreement with Bristol-Myers Squibb (BMS), effective March 12, 2025. Because of this termination, Century Therapeutics recognized a substantial, one-time collaboration revenue amount. For the three months ended March 31, 2025, the company recognized $109.2 million in collaboration revenue tied directly to this event. To give you context, the collaboration revenue for the same period in 2024 was only $0.9 million, and the full-year 2024 collaboration revenue was $6.6 million. Management was clear: there will be no future collaboration revenues recognized under that specific BMS agreement.

The original 2022 BMS deal was structured to provide significant potential upside, including $150 million in upfront cash and equity, plus commitments exceeding $3 billion in biobucks (milestone and royalty payments). Now, that stream is closed.

Here's a quick look at how that collaboration revenue compares:

Revenue Component	Period/Date	Amount
BMS Termination Recognition	Q1 2025 (Three months ended March 31, 2025)	$109.2 million
Prior Period Collaboration Revenue	Q1 2024 (Three months ended March 31, 2024)	$0.9 million
Full Year 2024 Collaboration Revenue	Year ended December 31, 2024	$6.6 million

Future potential milestone payments from new strategic partnerships are the next logical step, but as of late 2025, the search results don't detail any new upfront payments or specific milestone targets from recent deals. The focus has shifted to advancing the internal pipeline, which is the basis for any future partnering value.

Since the company is pre-commercial and operating at a high R&D burn rate-R&D expenses were $26.6 million in Q1 2025-funding operations relies heavily on non-operating revenue sources. To maintain liquidity, Century Therapeutics filed for a $200 million mixed shelf offering in July 2025. This filing allows the company flexibility to issue securities like common stock, preferred stock, debt, or warrants to fund its operations and clinical timelines.

The need for this capital market activity is underscored by the cash position. Following the Q1 revenue event, cash was $185.8 million as of March 31, 2025. However, after subsequent operational spending and a significant workforce reduction in July 2025, the company reported closing Q3 2025 with $132.7 million in cash, cash equivalents, and marketable securities. This latest figure is projected to fund operations into the fourth quarter of 2027.

Regarding commercial sales, Century Therapeutics, Inc. is definitely pre-commercial. You won't see revenue from product sales in the near-term; the business model is entirely focused on R&D execution and achieving clinical milestones that could trigger partnership payments or justify future financing rounds.

• CNTY-101 initial clinical data expected around December 5, 2025.
• CNTY-308 advancing through IND-enabling studies, with a planned clinical trial initiation in 2026.
• New CNTY-813 program for Type 1 diabetes expected to enter IND-enabling studies by year-end 2025.

Finance: review the Q3 2025 cash burn rate against the extended runway projection by next Tuesday.