In February 2026, The Wall Street Transcript published an exclusive interview with CytoMed Therapeutics Ltd (NASDAQ: GDTC) Chairman Choo Chee Kong. The interview covered the company’s technological approach, clinical trial progress, global strategic expansion — particularly in China and India — financing status, and deep insights into the global biotechnology industry.
 
 1. Company Overview & Core Technology
Company Background
CytoMed is a clinical-stage biotech spin-off from ASTAR, Singapore’s national scientific research agency. The company focuses on developing affordable cancer therapy using patented allogeneic Gamma Delta T Cells derived from healthy donors.
Mission
The company aims to address the major limitations of existing cell therapies such as CAR-T, including high treatment costs and lengthy manufacturing timelines. By using blood from healthy donors to manufacture “off-the-shelf” immune cells, the company aims to reduce production costs and enable global distribution.
Technological Advantages
Safety
Gamma Delta T Cells have a lower risk of causing Graft-versus-Host Disease (GVHD), making them suitable for allogeneic transplantation.
Versatility
The cells express CARs (Chimeric Antigen Receptors) targeting NKG2D ligands, enabling recognition of multiple cancer types that express stress-related molecules, including Solid tumors & Hematological malignancies.
 
 2. Clinical Trial Progress
Singapore ANGELICA Trial
Nature of the Trial
Ongoing first-in-human clinical trial targeting patients with:
Advanced solid tumors
Hematological malignancies
Progress
The trial comprised 12 patients in total, and treatment has been completed for half of the participants (6 patients).
Objective
To complete the Phase 1 clinical trial and evaluate before embarking on Phase 2 by next year 2027:
Safety
Efficacy of the CAR-modified version
 
Malaysia Clinical Trial
Strategy
CytoMed plans to launch a first-in-human clinical trial for the unmodified version of the therapy, which is expected to be significantly less expensive than the CAR-T version.
Collaboration
The company is collaborating with Universiti Malaya Hospital and is preparing to submit trial documentation to regulators and start by this year 2026.

3. Strategic Expansion & Acquisitions
Acquisition of TC BioPharm (UK)
Through this acquisition, CytoMed obtained feeder-free manufacturing technology, solving logistical challenges associated with cross-border transportation of specialized feeder cells and strengthening its cancer therapy platform.
 
Acquisition of Longevity Bank (Malaysia)
Background
In mid-2024, CytoMed acquired a Malaysian cord blood bank that had entered liquidation due to the impact of the pandemic. The bank had approximately 12,000 customers.
Strategic Purpose
The acquisition provides access to cord blood resources for the development of Natural Killer (NK) Cell therapies from pristine cord blood.
NK cells have potential applications in:
Anti-aging
Elimination of senescent cells
This acquisition also broadens the company’s therapeutic pipeline.
 
 4. Global Market Strategy: Focus on China & India
China (Key Strategic Focus)
Policy Opportunity
CytoMed is closely monitoring China’s “Directive 818,” which allows hospitals conducting investigator-initiated trials (IITs) to charge patients, thereby helping subsidize biotechnology companies’ R&D and manufacturing costs.
Competitive Advantage
Compared with the capital-intensive “cash-burning” model commonly seen in Western biotech companies, the Chinese model is viewed as more sustainable.
China’s Government-backed biotech parks, Pragmatic regulatory policies & Strong venture capital ecosystem have made the country highly attractive for biotechnology development.
Market Potential
China has a massive cancer patient population and  regulatory flexibility for compassionate-use style commercialization making it a critical strategic market for CytoMed.
 
India
As one of the world’s two largest population centres, India is also a major target market for the company.
 
United States
Although CytoMed collaborates with MD Anderson Cancer Center — where animal studies showed effectiveness against AML — the company currently does not prioritize the U.S. market due to the long time and extremely high cost of clinical trials.
 
 5. Financial Position & Industry Perspectives
Financial Status
The company raised only USD 8 million during its 2023 IPO due to difficult biotech market conditions at the time.
However, management has maintained disciplined spending while seeking partners to co-develop its proprietary allogeneic cancer technologies.

View on the “Biotech Winter”
The Chairman believes the biotech industry is currently experiencing a “winter” caused by:
Excessively high valuations during the pandemic era
SPAC-related speculation
Significant investor losses
Tightening capital markets
The company also faces:
Heavy short-selling pressure
Interference from day traders

Strategic Pivot
To survive the difficult funding environment, CytoMed is shifting toward closer collaboration with hospitals to provide treatments for “no-option” patients.
The company benefits from low cost infrastructure in Southeast Asia and aims to:
Attract international medical tourists
Leverage Malaysia’s “Medical Tourism Year 2026”
Generate revenue while simultaneously collecting clinical data
 
 6. Regulatory Advocacy
Compassionate Use
CytoMed advocates for regulators to adopt a more flexible approach for terminal patients who have exhausted all available treatment options, allowing access to new cell therapies.
East-West Differences
The Chairman noted that Eastern societies, particularly in Southeast Asia, generally have less aggressive litigation cultures compared with Western countries such as the United States.
This creates a more favourable environment for Compassionate Use programs, allowing terminal patients to try innovative therapies when conventional options have failed.
 
Conclusion
The interview highlights CytoMed’s unique “low-cost survival strategy” within the highly expensive biotechnology sector.
By leveraging:
Southeast Asia’s lower manufacturing and labour costs
Strategic hospital partnerships
China’s “Directive 818” policy framework
the company has identified a pragmatic commercialization pathway during the ongoing biotech capital winter.
CytoMed’s approach demonstrates not only technological ambition, but also strong strategic insight into the evolving global biotechnology landscape.