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APOP - Cellect Biotechnology News Story

$2.74 0.0  0.4%

Last Trade - 15/01/21

Sector
Healthcare
Size
Micro Cap
Market Cap £4.60m
Enterprise Value £84.6k
Revenue £n/a
Position in Universe 6086th / 6547

Cellect Biotechnology Commences Collaboration with XNK Therapeutics to Advance Novel NK Cell-Based Therapies; Adds Another Partner for its Functional Cell Selection Technology

Thu 29th October, 2020 12:00pm
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Tel Aviv, Israel , Oct. 29, 2020 (GLOBE NEWSWIRE) -- 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.

Contact
Cellect Biotechnology Ltd. 
Eyal Leibovitz, Chief Financial Officer
www.cellect.co
+972-9-974-1444

Or

EVC Group LLC   
Michael Polyviou
(732) 933-2754
mpolyviou@evcgroup.com

(https://www.globenewswire.com/NewsRoom/AttachmentNg/2de7e00f-3438-4e4c-9ef8-0e3f6e0eeef9)



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