Creative Medical rises on FDA's 'orphan drug' tag for transplantation therapy

Creative Medical Technology Holdings

06/03/2024 13:05

** Shares of biotech firm Creative Medical Technology
Holdings  CELZ.O  rise 35% to $5.58 premarket   
    ** Co says the U.S. Food and Drug Administration (FDA) has
granted "orphan drug" status to its experimental immunotherapy
to prevent graft rejection in patients with brittle type 1
diabetes, undergoing pancreatic islet cell transplantation
    ** Brittle type 1 diabetes is characterized by extreme
fluctuations in blood glucose levels  
    ** In islet cell transplantation, insulin-producing cells in
the pancreas (islets) are transplanted from a donor into a
person with type 1 diabetes
    ** The therapy, CELZ-101, uses the patient's own regulatory
T cells to combat immune responses that can destroy islets -
CELZ
    ** Orphan drug status is given by the FDA to drugs that
treat rare conditions and are protected through a series of
government incentives once in market
    ** Up to last close, stock was down 35.5% in the last 12
months 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))