Australia's Cynata Therapeutics rises on TekCyte deal

Cynata Therapeutics

01/03/2021 04:14

** Shares of biotech firm Cynata Therapeutics  CYP.AX  rise
as much as 3.2% to A$0.655, their biggest intraday pct jump
since Feb 12
    ** Co executes a Memorandum of Understanding with thin-film
polymer coatings maker TekCyte for its wound dressing technology
 urn:newsml:reuters.com:*:nASXKgzy5
    ** Under MoU, co and other parties to enter a license
agreement for the use of TekCyte's technology to advance
development of its Cymerus MSC product for diabetic foot ulcers
    ** Co adds that it plans to undertake a clinical trial of
its Cymerus MSC product by utilising TekCyte's technology 
    ** Stock has fallen 7.3% this year as of last close
    
  
($1 = 1.2606 Australian dollars)


 (Reporting by Ananya Pande in Bengaluru)
 ((ananya.pande@thomsonreuters.com))