NextCell Pharma updates on its current situation in its first quarterly report
NextCell Pharma AB (”NEXTCL”, “NextCell”) today, released its first quarterly report (April-June) since its introduction on Aktietorget. Following the issue in July, and after payment of study drug the Company has approximately SEK 20 million in cash, while the "burn rate" for the reporting period (April-June) was 3.5 MSEK (listing on Aktietorget occurred after the closing of this quarterly report).
During the reporting period NextCell Pharma has recruited Leo Groenewegen, who took up the position of CFO. Besides his duties as CFO, Leo Groenewegen, together with Chairman Anders Essen-Moller, will also focus on Business Development and Communications.
An application to the Medical Products Agency was submitted in July regarding a clinical trial for autoimmune diabetes with the Company's stem cell product ProTrans™. The aim of this trial is primarily to study its safety and secondly, whether ProTrans™ can positively affect endogenous insulin production in adult type 1 diabetic patients diagnosed with diabetes within two years. Protrans™ is developed from donated umbilical cord stem cells using the Company's Proprietary Selection Algorithm and is intended for the treatment of autoimmune and inflammatory diseases as well as for rejection reactions associated with renal transplantation.
The Data Safety Monitoring Board for the study consists of Professors; Ulf Smith and Anders Fasth at Göteborg University, as well as Åke Lernmark at Lund University. Professor Per-Ola Carlsson at Uppsala University, will be the principal investigator for the study.
"I am proud to lead an extremely qualified and experienced team, that has now completed the important milestone of submitting an application to the Medical Products Agency to conduct this clinical study," says CEO Mathias Svahn. I would also like to remind you of the Company's other activity, Cellaviva, which is Sweden's only IVO-approved family-savings bank for stem cells. Here are sales of the service fully ongoing. The Board and I are convinced that it may prove important to have untouched stem cells from the umbilical cord stored, not only where there is a genetic risk that the child itself or in some cases its sibling may develop a severe blood cancer or an autoimmune disease.
For more information about NextCell Pharma AB, please contact:
Mathias Svahn, CEO
Phone: 0702-615 504
About NextCell Pharma AB:
Stem cells are expected to change the way how many of today's life-threatening diseases are treated. NextCell
Pharma AB develops ProTrans™, a drug candidate consisting of stem cells for the primary treatment of autoimmune and inflammatory diseases as well as for use in kidney transplants. ProTrans™ consists of selected stem cells derived from the umbilical cord tissue with NextCell Pharma AB's proprietary method. In addition, the company has a service called Cellaviva, Sweden's first and only IVO-approved stem cell bank for the family-saving of stem cells from umbilical cord blood and umbilical cord tissue.