Cellect Biotechnology Ltd. (NASDAQ: APOP) rose on Wednesday markets, after the company reported a major breakthrough of its ApoGraft technology. The company disclosed positive results from a 20-patient trial with Tel-Aviv Ichilov Medical Center.
The Tel Aviv-based company is a developer of stem cell selection technology, and announced today that it has achieved a major milestone with the conclusion of a large study on the use ApoGraft™ on stem cells derived from fat tissues.
The significance of the findings opens ApoGraft™ to be used by a much wider array of companies and medical centers worldwide developing stem cell based products and treatments. Of special importance are the aesthetic and orthopedic indications where fat-derived stem cells are the main raw material.
The study was conducted in collaboration with the Plastic Surgery Department and Stem Cells Laboratory of the Tel-Aviv Medical Center (Ichilov Hospital). Fat-derived stem cells were treated according to Cellect protocols and have shown that ApoGraft™ led to both an expansion of cells and an improvement in their unique cell activity and attributes. The ability of those cells to create colonies and differentiate into bone was enhanced significantly after only a short incubation.
CEO Dr. Shai Yarkoni commented: "Cellect has reached a significant milestone in showing that the ApoGraft™ technology can be applied to the harvesting of fat derived stem cells and therefore can be immediately applied to creating business alliances with the vast numbers of companies using fat-derived stem cells but unable to produce large batches under cost effective conditions.”
Cellect shares hurtled higher $1.36, or 17.1%, to $9.32.
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