First successful stem cell cancer transplant sees Cellect Biotechnology shares surge – Proactive Investors USA & Canada

Cellect Biotechnology Ltd (NASDAQ:APOP, TASE:APOP) shares shot up 74% in New York after it successfully performed the first stem cell transplant procedure on a cancer patient.

It happened in the group's phase I/II clinical trial in a blood cancer patient.

The stem cell firm's chief executive Dr Shai Yarkoni said: After 15 years of research, this is the first time we have used our technology on a cancer patient suffering from life-threatening conditions.

"It is a first good step on a road that we hope will lead to stem cell based regenerative medicine becoming a safe commodity treatment at every hospital in the world.

Up to half of all stem cell transplant procedures, such as bone marrow transplants, result in life-threatening rejection disease, known as Graft-versus-Host-Disease (GvHD).

But the firm's ApoGraft technology aims to stop all that.

Now, the independent data and safety monitoring board (DSMB) has approved the enrolment of two further patients for the ApoGraft treatment to complete the first study cohort as planned.

Shares shot up 74% to reach $10.9 each.

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First successful stem cell cancer transplant sees Cellect Biotechnology shares surge - Proactive Investors USA & Canada