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.
The Weight-Loss Gold Rush: Legal and Regulatory Implications
July 11th 2024Jim Shehan, chair of the FDA Regulatory practice, Lowenstein Sandler, discusses how the FDA and other regulators likely to respond to the increased public interest and potential off-label use of GLP-1 drugs, what needs to be done for GLP-1s to be covered, advice for investors and financiers considering entering the weight-loss medication market and more.
Healthcare Marketing Strategies for Reaching Diverse Audiences
May 14th 2024Amanda Powers-Han, Chief Marketing Officer, Greater Than One, and Pharmaceutical Executive Editorial Advisory Board member, discusses how improved DE&I in healthcare marketing strategies can not only reach diverse audiences more effectively but also contribute to improved patient care outcomes, challenges faced in crafting culturally sensitive messages, and much more.