Frost & Sullivan Publishes Q3-2018 Update On Cellect Biotechnology Ltd.
TEL AVIV, Israel, Dec. 13, 2018 /CNW/ -- Cellect Biotechnology Ltd. is developing a technological platform, the "ApoGraft", which functionally selects stem cells from a mixed population of cells based on their sensitivity to apoptosis. The first product under development is the ApoTainer™ selection kit. The company is currently conducting a proof-of-concept phase I/II trial with blood cancer patients in Israel, which is expected to be completed by the end of Q3-2018. Based on trial results and safety issues, the company plans to integrate its technology into a range of procedures that utilize stem cells, as well as into the manufacturing process of adult stem cell based products.
Summary of Highlights
Below are the highlights of Cellect's Q3 report released on Nov.13, 2018:
ApoGraft POC final results by mid-2019; Cellect continues to strengthen its IP portfolio for stem cell therapy related technologies and build a line of partnerships. The company announced the following:
- Opened a second site for the company's ongoing clinical trial which allowed it to expedite the recruitment of additional patients and as a result, half of the patients planned for the study have finished first month follow up and all patients have shown 100% engraftment with no procedure related adverse events. The first three patients of the trial (cohort I) have completed the study period (180 days) with full safety and tolerability.
- Achieved positive results on the use of fat derived cells treated with the ApoGraft™ process in orthopedic treatments in an animal model and announced that it has successfully developed its new first in kind technology as an integral part of Cellect's ApoTainer™ for industrialization. The new technology utilizes FasL-coated magnetic beads for maximizing efficacy and scalability of stem cell-based product manufacturing. The ApoTainer™ improves the uniformity and hence quality of the outcome thereby supporting the safety and efficacy of raw material (stem cells) for all cell therapies.
- Received a formal Notice of Allowance from the Japanese and Australian Patent Offices for patents & trademarks.
Sufficient cash to support current early phase and pre-clinical pipeline developments until Q2-2019.
Cash and cash equivalents and marketable securities totaled $6.45 million as of September 30, 2018, compared to $8.26 million on June 30, 2018. The change is primarily due to net proceeds of $3.5 million from a registered direct offering completed in January 2018 being offset by cash used in operations during the period.
We maintain our estimation of the company's equity value at $101.4M; corresponding to a target price ranging between $15.40 and $18.70; a mean of $16.90.
- The company is on track to meet its strategic goals. Should the company see positive results in its ongoing trial (ApoGraft POC final results estimated for early 2019) the target price of their stock is projected to increase accordingly.
For full details on Cellect and the breakdown of our valuation methodology see our Initiation of Coverage, dated 27 April 2017.
Read the full report here.
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