Business
Celularity Reports Second Quarter 2021 Financial Results
Secured funding of approximately $138 million through merger and private placement investment in public equity (PIPE) financingExpanded Phase 1 clinical trial
About this update from Celularity Inc.
[{"type":"text","content":"Secured funding of approximately $138 million through merger and private placement investment in public equity (PIPE) financingExpanded Phase 1 clinical trial to include difficult-to-treat patient population Established multiple strategic and commercial partnerships FLORHAM PARK, N.J., Aug. 16, 2021 (GLOBE NEWSWIRE) -- Celularity Inc. (“Celularity”) (Nasdaq:CELU), a clinical-stage biotechnology company developing off-the-shelf placental-derived allogeneic therapies, today reported financial results for the quarter ended June 30, 2021, and provided a summary of recent corporate highlights. “This has been an exciting time for Celularity, with the achievement of multiple transformational milestones and significant progress in our unique approach to cellular medicine,” said Robert J. Hariri, M.D., Ph.D., founder, Chairperson and Chief Executive Officer of Celularity. “Most notably, this quarter marked our transition to a public company through a merger with GX Acquisition Corp., which along with a companion PIPE provided significant funds to support our work. Additionally, we made noteworthy advances in our clinical programs, including the expansion of our Phase 1 trial in patients with acute myeloid leukemia, to include difficult to treat patient populations. Beyond our program development, we forged new strategic and commercial partnerships with companies at the forefront of their respective fields that continue our legacy of pioneering new and innovative approaches to cellular medicine. We look forward to continuing to advance the field of cellular medicine and developing treatments capable of addressing significant unmet needs in cancer, autoimmune and infectious disease.” Corporate Highlights Celularity closed the merger with GX Acquisition Corp. (“GXGX”). Proceeds from the transaction totaled approximately $138 million, which included funds held in GXGX’s trust account and a concurrent private placement investment in public equity (PIPE) financing led by existing Celularity shareholders.Celularity expanded its ongoing Phase 1 clinical trial of CYNK-001 in patients with acute myeloid leukemia (AML) (NCT04310592) to include patients with relapsed/refractory AML (r/r AML) in addition to its ongoing trial in patients positive for minimal residual disease (MRD).The U.S. Food and Drug Administration (FDA) granted Orphan Drug Designa...