Transaction with special purpose acquisition company totals $138 million.
Celularity Inc., a clinical-stage cellular medicine company developing off-the-shelf allogeneictherapies derived from the postpartum human placenta, announced the closing of a merger with GX Acquisition Corp., a special purpose acquisition company (SPAC). Proceeds from the transaction totaled approximately $138 million. The combined, publicly traded company will operate under the name Celularity, Inc., and its common stock will commence trading on the Nasdaq Capital Market on July 19, 2021, under the ticker symbol “CELU.”
Celularity Founder, Chairperson and CEO, Robert J. Hariri, MD, PhD, said, “We are driven as an organization to establish Celularity as a world leader in the development and delivery of innovative off-the-shelf allogeneic cellular medicines for patients with high unmet need at unparalleled scale, quality and cost.” Hariri further noted in a statement that it is exciting to be entering the field of Regenerative Medicine focused on developing novel cellular medicines as a new publicly-traded biotechnology company at this time of science and medical advancements.
Hariri has decades of R&D experience. The company’s pipeline is centered on its biologic CYNK-001, a non-genetically modified cryopreserved human placental hematopoietic stem cell-derived natural killer (NK) cell therapy. CYNK-001 is currently in a Phase I trial for patients with acute myeloid leukemia (AML) and has been granted Orphan Drug Designation by the FDA for the treatment of patients with malignant gliomas. In addition, CYNK-001 received a positive recommendation from an independent Data Monitoring Committee to continue advancing the company’s Phase I/II COVID-19 trial.
Read more about the merger here.
Fake Weight Loss Drugs: Growing Threat to Consumer Health
October 25th 2024In this episode of the Pharmaceutical Executive podcast, UpScriptHealth's Peter Ax, Founder and CEO, and George Jones, Chief Operations Officer, discuss the issue of counterfeit weight loss drugs, the potential health risks associated with them, increasing access to legitimate weight loss medications and more.
MDMA Therapy for Mental Health Conditions: Do the Benefits Outweigh the Risks?
October 25th 2024Despite a recent FDA Complete Response Letter issued to Lykos for midomafetamine capsules for the treatment of post-traumatic stress disorder, experts believe that the future is bright for psychedelic drugs that treat mental health conditions.
The Transformative Role of Medical Information in Customer Engagement
October 3rd 2024Stacey Fung, Head of Global Medical Information at Gilead Lifesciences, delves into the evolving role of Medical Information (MI) in the pharmaceutical industry. Covering key topics like patient engagement through omnichannel strategies, combating misinformation, and leveraging AI to enhance medical inquiries, the conversation with Stacey highlights MI's critical role in ensuring patient safety and supporting drug development. She also shares her professional journey and tidbits for early career professionals on professional development.
The Impact of Artificial Intelligence on the Creation of Medicines
October 24th 2024Najat Khan, chief R&D officer, chief commercial officer, Recursion, and Fred Hassan, director, Warburg Pincus, discuss how artificial intelligence can help reduce healthcare costs at the 20th Annual Young & Partners Pharmaceutical Executive Summit held at the Yale Club of New York.