Frost & Sullivan Publishes Q2-2018 Update On Cellect Biotechnology Ltd.

TEL AVIV, Israel, Aug. 21, 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

Cellect released its Q2-2018 report on 9 August, 2018 detailing the following:

Cellect is on track with its strategic plans; minor setback in patient recruitment may delay ApoGraft POC final results till mid-2019.

• Cellect announced on 9 April, 2018 that it has successfully completed the proof of concept testing of its first in type new product prototype, ApoTainer™ using its FasL-coated magnetic beads for maximizing efficacy and scalability of stem cell based products' manufacturing.
• Cellect continued to enroll and treat patients in its Phase I/II clinical trial of ApoGraft™. The aim being to evaluate the technology's safety, tolerability and efficacy in functionally selecting donor derived mobilized peripheral blood cells and subsequent transplantation into patients with hematological malignancies in allogeneic hematopoietic stem cell transplantation.
• The company reported on January 2018, a 100% acceptance and zero related adverse events for the first group of three patients after a one month follow-up. Accordingly, Cellect recently decided to explore the development and establishment of biobanking business opportunities based on their ApoGraft™ platform technology that may have the potential to add value to this domain.

Cellect has initiated a second program focusing on the selection of mesenchymal stem cells (MSCs) from fat cells, which poses great potential.

• Cellect has initiated a second program focusing on a selection of mesenchymal stem cells (MSCs) from fat cells also called adipose stem cells (ASCs). Those cells have the potential to differentiate and regenerate into cells of mesenchymal lineage such as adipocytes (fat cells), osteoblasts (bone cells), chondrocytes (cartilage cells and other cells) and myocytes (muscle cells).

Sufficient cash to support current clinical early phase and other pre-clinical pipeline development until Q2-2019.

• Cash and cash equivalents, marketable securities and short-term deposits totaled $8.2 million as of June 30, 2018, sufficient until Q2-2019.

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.

• In our view, 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 financial potential of their stock is projected to increase.

Read the full report here.

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Contact:

Jacqui Holmes
Corporate Communications - Frost & Sullivan, Europe
E: [email protected]
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SOURCE Frost & Sullivan

Related Links

http://www.cellect.co