Celularity Closes SPAC Merger With GX Acquisition, Trading Starts Monday

  • Celularity Inc has closed the merger with GX Acquisition Corp GXGX, giving Celularity $138 million to push the NK cell and T cell therapies into early-stage trials.
  • The combined company will operate under the name Celularity Inc CELU, and its common stock will commence trading on the NASDAQ from Monday (19 July) under the ticker symbol CELU.
  • The company expanded its ongoing Phase 1 trial of CYNK-001 in patients with acute myeloid leukemia (AML)to include patients with relapsed/refractory AML (r/r AML) in addition to its ongoing trial in measurable residual disease (MRD).
  • To date, no dose-limiting toxicity was observed with outpatient administration of three doses. 
  • The FDA granted Orphan Drug Designation to CYNK-001 for the treatment of patients with malignant gliomas. 
  • CYNK-001 is currently in a Phase 1 trial for glioblastoma multiforme.
  • For Phase 1/2 COVID-19 trial assessing CYNK-001, no evidence of dose-limiting toxicities or evidence of no worsening inflammatory biomarkers was observed, and enrollment is ongoing.
  • Price Action: GXGX shares are up 32.20% at $10.60 during the market session on the last check Friday.

Posted In: BriefsSPACsSPACs AttackBiotechNewsHealth CareFinancingOfferingsIPOsGeneral

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