Australia's Cynata Therapeutics extends gains on Fujifilm deal

Cynata Therapeutics

01/10/2021 06:43

** Shares of the biotech co  CYP.AX  rise as much as 5.2% to
A$0.61, extending gains for a second consecutive session
    ** Co entered into a partnership agreement with Japanese
conglomerate Fujifilm on Thursday, under which the latter will
manufacture co's Cymerus therapeutic mesenchymal stem cell
products for clinical trials and commercial applications
 urn:newsml:reuters.com:*:nGLF81YwqD
    ** CYP also regained rights for CYP-001 for
graft-vs-host-disease (GVHD) with Fujifilm paying $5 mln to co
under the terms of agreement
    ** Co will immediately implement a development strategy for
GVHD,  a complication that can occur after a bone marrow
transplant or similar procedure, in the U.S.
    ** ~180,000 shares trade hands, 1.6x the 30-day average
volume
    ** As of last close, stock had fallen 15.3% YTD

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))