Creative Medical rises on filing for FDA's 'orphan drug' tag for diabetes treatment

Creative Medical Technology Holdings

23/03/2023 13:21

** Shares of biotech co Creative Medical Technology Holdings
Inc  CELZ.O  rise 5.77% to $0.55 premarket 
    **  Co files an application with the U.S. Food and Drug
Administration (FDA) to receive "orphan drug" designation for
its CELZ-100 platform in the treatment of brittle type 1
diabetes
    ** Says currently there is no FDA approved therapy for a
definitive cure of brittle type 1 diabetes; adds Human islet
cell transplantation has been tried and is currently under U.S.
FDA review 
    ** Human islet cells are micro-organs located in the
pancreas and composed of at least four types of endocrine cells
    **  Co's therapy, when co-administered with islet cells is a
promising approach to overcoming transplant rejection in
patients with brittle diabetes - CELZ
    ** Brittle diabetes refers to severe form of diabetes that
is hard to control and manage
    ** CELZ lost ~83% in 2022

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com;))