Global Cord Blood Corporation Announces Entry into Cell Therapy Market by Acquiring Cellenkos and its Product Rights
HONG KONG, April 29, 2022 /PRNewswire/ — Global Cord Blood Corporation (NYSE: CO, “GCBC” or the “Company”), China 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 market all of its 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 the outstanding interest of CLNK and GM Precision Medicine (BVI) Limited (“GMPM”). Following the conclusion of an agreement on 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 $11 per share and pay US$664 million in cash as total consideration.
CLNK is a biotechnology research and development (“R&D”) company that uses umbilical cord blood (“CB”) as a raw material to develop innovative, allogeneic, ready-to-use cellular therapeutic products. Thanks to a licensing and strategic development agreement with The University of Texas MD Anderson Cancer Center and the exclusive intellectual property of CLNK (“IP”), CLNK is focused on the development of T-regulatory (“T-reg”) cell therapies for the treatment of autoimmune diseases and inflammatory disorders. From a rich and expanding product pipeline, CLNK is developing cellular drugs 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 lead products, CK0802, has completed a Phase 1, double-blind, randomized, placebo-controlled, early safety and 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 that 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 survival. overall at last follow-up, after taking into account prognostic covariates. A larger confirmatory study is warranted. CLNK is preparing to initiate Phase II/III trials and apply for Emergency Use Authorization (“EUA”), Advanced Therapy Designation in Regenerative Medicine (“RMAT”), Breakthrough Therapy Designation (” BTD”), a Fast Track Designation (“FTD”)), and an Orphan Drug Designation (“ODD”). Additionally, CLNK has formed a development collaboration with Incyte to study the combination of CK0804 and ruxolitinib (Jakafi®) in patients with myelofibrosis (MF) and is entitled to license fees and milestone-based royalties.
Upon completion of all transactions, the Company will own 100% of CLNK’s equity, worldwide rights to most of its products and laboratory assets under GMPM. The Company will fully support all ongoing and exceptional clinical and R&D projects of CLNK.
The Company’s Board of Directors believes that CLNK is a perfect fit for the Company and that its products can have distinct synergies with the Company’s existing line of business. “Targeting the multi-billion dollar cell therapy market, the Company adds a growth engine through CLNK’s world-class cell therapy R&D team, CLNK-owned cGMP manufacturing facility and to its unique technology to derive T-reg cell therapies with the ability to generate multiple and distinct products against various conditions,” said Ms. Ting Zheng, President and CEO of GCBC. “Besides expanding the business from umbilical cord blood stem cell storage to T-reg cell therapy, the company’s target market also extends beyond China and Asiaas we strive to meet the unmet medical needs of patients around the world and save lives.”
“As a biotechnology company focused on innovative cell therapies, CLNK is honored to join the GCBC family. This union represents a significant milestone for CLNK and I believe that GCBC’s current operations, extensive network and sales and of marketing in Asia will help accelerate CLNK’s R&D activities as well as future commercialization and expansion,” said Dr. Simrit Parmar, MD, Founder of CLNK. “Going forward, the CLNK team will continue to focus on the R&D and manufacturing of breakthrough T-reg cell therapies, cooperate with the existing GCBC team to expand the CLNK pipeline, and prepare for the commercialization of our products globally for the benefit of patients. who desperately need better treatment options.”
About Global Cord Blood Corporation
Global Cord Blood Corporation is an umbilical cord blood bank operator serving several regions of the China. Global Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing and stem cell storage services. For more information, please visit the company’s website at: http://www.globalcordbloodcorp.com.
About Cellenkos, Inc.
Cellenkos® is a clinical-stage biotechnology company focused on the development and commercialization of allogeneic tissue-targeted immune T-regulatory cell therapies to treat autoimmune diseases and inflammatory disorders. Derived from the umbilical CB. Cellenkos Tregs are genuine, naïve suppressor cells that resolve inflammation through multiple direct and indirect interactions. Cellenkos uses its exclusive CRANEMT technology platform for isolating, activating, enriching and expanding tissue-directed CB Treg cells that harness cellular intelligence to seek out, locate, proliferate and resolve tissue inflammation. Cellenkos in-house cGMP facility allows for large scale manufacturing where multiple doses can be generated from a single CB unit. These ready-to-use allogeneic cell products are cryopreserved and are available upon request for point-of-care infusion.
For more information, please visit the company’s website at:
https://www.cellenkosinc.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements relate to future events or the future financial performance of the Company. The Company has attempted to identify forward-looking statements by terminology including “anticipates”, “believes”, “expects”, “may”, “continues”, “could”, “estimates”, “intends”, “may”, “plans”, “potential”, “predict”, “should” or “will” or the negative form of these terms or any other comparable terminology. These statements are only predictions, uncertainties and other factors may cause the actual results, levels of activity, performance or achievements of the Company to be materially different from future results, levels of activity, performance or achievements. expressed or implied by these forward-looking statements. The information contained in this press release is not intended to project the future performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company does not guarantee future results, levels of activity, performance or achievements. The Company’s expectations are as of the date of this press release, and the Company does not intend to update any forward-looking statements after the date of this press release to conform such statements to results. real, except as required by law.
SOURCE Global Cord Blood Corporation
