Recruitment of Patient Provides Momentum to Commence Funding for the Technology under US Entity EnCellX
Reflecting continued clinical progress, Cellect Biotechnology Ltd. (NASDAQ: “APOP”), announced the first ApoGraftTM transplantation in a Leukemia patient in the Company’s clinical trial at Washington University in the U.S. ApoGraftTM is a product based on the Company’s cell selection technology designed to optimize immune therapy, in this application - prevent graft-versus-host disease (GVHD) following bone marrow transplantation.
Following the closing of the previously announced strategic merger transaction between Cellect and Quoin Pharmaceuticals, ApoGraftTM development will be pursued by EnCellX, the privately held U.S. based company that is acquiring Cellect’s proprietary technology concurrently with such merger. The trial will enroll 18 patients with hematological malignancies who are undergoing a haploidentical Bone Marrow Transplantation (BMT).
EnCellX, led by Founder and CEO Adi Mohanty, is raising funds from leading healthcare institutional investors to expedite and expand clinical development.
“This is an important milestone for Cellect and demonstrates the team’s professionalism and dedication for getting us to this occasion,” commented Dr. Shai Yarkoni, Chief Executive officer. “We look forward to working closely with EnCellX as its U.S. based team will work closely with Washington University to continue patient enrollment. This achievement, following the release of positive topline data from the Israeli ApoGraftTM trial, is timely as EnCellX is seeking to strengthen its balance sheet in the near term to fund continuing clinical development.”
About Cellect Biotechnology Ltd. Cellect Biotechnology (APOP) has developed a breakthrough technology, for the selection of stem cells from any given tissue, that aims to improve a variety of cell-based therapies. The Company’s technology is expected to provide researchers, clinical community, and pharma companies with the tools to rapidly isolate specific cells in quantity and quality allowing cell-based treatments and procedures in a wide variety of applications in regenerative medicine. The Company’s current clinical trial is aimed at bone marrow transplantations in cancer treatment.