Press release
Global Cord Blood Corporation Announces Entry into Cell Therapy Market by Acquiring Cellenkos and Its Products Rights
HONG KONG, April 29, 2022 /PRNewswire/ -- Global Cord Blood Corporation (NYSE: CO, "GCBC" or the "Company"), China's leading provider of cord blood
About this update from Incyte Corporation
[{"type":"text","content":"HONG KONG, April 29, 2022 /PRNewswire/ -- Global Cord Blood Corporation (NYSE: CO, \"GCBC\" or the \"Company\"), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services, announced today that the Company will acquire 100% of Cellenkos, Inc (\"CLNK\") and the rights to develop and commercialize all of its existing and future products worldwide except those related to CLNK's existing collaboration with Incyte Corporation (Nasdaq: INCY, \"Incyte\"). As of the date hereof, the Company has entered into agreements with the holders of approximately 95% of CLNK outstanding equity interest and GM Precision Medicine (BVI) Limited (\"GMPM\"). Following the entry into an agreement at substantially the same terms with the remaining 5% holder, at closing, the Company will issue approximately 125 million new shares (on an as-converted and fully diluted basis) valued at US$11 per share and pay US$664 million in cash as total consideration.\nCLNK is a biotechnology research and development (\"R&D\") company that utilizes umbilical cord blood (\"CB\") as the raw material to develop innovative, allogeneic, off-the-shelf, cell based therapeutic products. Through a License and Strategic Development Agreement with The University of Texas M. D. Anderson Cancer Centre and CLNK's own proprietary Intellectual property (\"IP\"), CLNK focuses on developing T-regulatory (\"T-reg\") cell therapies for treating autoimmune diseases and inflammatory disorders. Out of a rich and expanding product pipeline, CLNK is developing cellular medicines to suppress severe inflammations of Coronavirus Disease 2019 (COVID-19), Acute Respiratory Distress Syndrome (ARDS), Amyotrophic Lateral Sclerosis (ALS) and Aplastic Anemia (AA). One of its core products, CK0802, has completed a Phase 1, Double-Blinded, Randomized, Placebo Controlled Safety and Early Efficacy Trial for the treatment of COVID-19 induced ARDS in 45 patients (www.clinicaltrials.gov NCT04468971). The results of this trial showed that CK0802 infusions were well-tolerated and the 100 million cell dose was likely associated with improvements in the primary endpoint of being alive and extubated at day 28 as well as in the overall survival at last follow up, after accounting for prognostic covariates. A larger confirmatory study is warr...