Cellect Biotechnology Commences Collaboration with XNK Therapeutics to Advance Novel NK Cell-Based Therapies; Adds Another Pa...
October 29 2020 - 8:00AM
Adding to a growing roster of partners, Cellect Biotechnology Ltd.
(NASDAQ: "APOP"), announced that it has entered into and commenced
a collaborative development program with Sweden-based XNK
Therapeutics, a pioneer in natural killer (NK) cell-based
therapies.
“This latest agreement demonstrates the
continued progress and operational momentum we are continuing to
generate, further validating our strategic vision and potential
revenue opportunities,” commented Dr. Shai Yarkoni, Chief Executive
Officer. “We join an already prestigious group of
organizations that are currently collaborating with XNK
Therapeutics, including the Karolinska Institute and the Royal
Institute of Technology, and we are looking forward to fostering a
long-term business and commercial collaboration. We remain focused
on commercializing our functional cell selection technology so
patients and markets can benefit from the proven safety profile and
better outcomes of a broad range of cell and gene therapies.”
Under the terms of the agreement, Cellect will
help improve XNK Therapeutics’ technology platform, for targeting
cancer across a wide range of indications. Cellect expects to
expand the business arrangement based on the outcomes of the
ongoing studies at XNK Therapeutics. Cellect’s functional cell
selection technology has the potential to significantly improve the
consistency and manufacturing efficiency in autologous as well as
future allogeneic transplantation
XNK Therapeutics is expected to leverage
Cellect’s simple, safe and inexpensive process as part of its
efforts to create the next generation version of its innovative
therapy platform. “I am excited that we continue developing the
next generation of XNK Therapeutics’ technology platform and
looking forward to the collaboration with Cellect” says Johan
Liwing CEO of XNK Therapeutics.
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 stem cell-based
therapies.
The Company's technology is expected to provide
researchers, clinical community and pharma companies with the tools
to rapidly isolate stem cells in quantity and quality allowing stem
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.
Forward Looking Statements
This press release contains forward-looking
statements about the Company's expectations, beliefs and
intentions. Forward-looking statements can be identified by the use
of forward-looking words such as "believe", "expect", "intend",
"plan", "may", "should", "could", "might", "seek", "target",
"will", "project", "forecast", "continue" or "anticipate" or their
negatives or variations of these words or other comparable words or
by the fact that these statements do not relate strictly to
historical matters. For example, forward-looking statements are
used in this press release when we discuss Cellect's expectations
regarding timing of the commencement of its planned U.S. clinical
trial and its plan to reduce operating costs. These forward-looking
statements and their implications are based on the current
expectations of the management of the Company only and are subject
to a number of factors and uncertainties that could cause actual
results to differ materially from those described in the
forward-looking statements. In addition, historical results or
conclusions from scientific research and clinical studies do not
guarantee that future results would suggest similar conclusions or
that historical results referred to herein would be interpreted
similarly in light of additional research or otherwise. The
following factors, among others, could cause actual results to
differ materially from those described in the forward-looking
statements: the Company's history of losses and needs for
additional capital to fund its operations and its inability to
obtain additional capital on acceptable terms, or at all; the
Company's ability to continue as a going concern; uncertainties of
cash flows and inability to meet working capital needs; the
Company's ability to obtain regulatory approvals; the Company's
ability to obtain favorable pre-clinical and clinical trial
results; the Company's technology may not be validated and its
methods may not be accepted by the scientific community;
difficulties enrolling patients in the Company's clinical trials;
the ability to timely source adequate supply of FasL; risks
resulting from unforeseen side effects; the Company's ability to
establish and maintain strategic partnerships and other corporate
collaborations; the scope of protection the Company is able to
establish and maintain for intellectual property rights and its
ability to operate its business without infringing the intellectual
property rights of others; competitive companies, technologies and
the Company's industry; unforeseen scientific difficulties may
develop with the Company's technology; the Company's ability to
retain or attract key employees whose knowledge is essential to the
development of its products; and the Company’s ability to pursue
any strategic transaction or that any transaction, if pursued, will
be completed. Any forward-looking statement in this press release
speaks only as of the date of this press release. The Company
undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by any
applicable securities laws. More detailed information about the
risks and uncertainties affecting the Company is contained under
the heading "Risk Factors" in Cellect Biotechnology Ltd.'s Annual
Report on Form 20-F for the fiscal year ended December 31, 2019
filed with the U.S. Securities and Exchange Commission, or SEC,
which is available on the SEC's website, www.sec.gov, and in the
Company's periodic filings with the SEC.
ContactCellect Biotechnology Ltd. Eyal
Leibovitz, Chief Financial Officerwww.cellect.co+972-9-974-1444
Or
EVC Group LLC Michael Polyviou(732)
933-2754mpolyviou@evcgroup.com
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