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Cellect completes 1st stem cell transplant, stocks up nearly 77%

Cellect Biotechnology Ltd. said it was able to complete its first stem cell transplant using the ApoGraft technology in the company's phase I/II clinical trial in a blood cancer patient.

"Up to [50%] of stem cell transplant procedures, such as bone marrow transplants, result in life-threatening rejection disease, known as Graft-versus-Host-Disease. Cellect's ApoGraft technology is aiming to turn stem cell transplants into a simple, safe and cost effective process, reducing the associated severe side effects, such as rejection and many other risks," the company said in a securities filing.

Based on the result, the independent data and safety monitoring board approved the enrollment of two additional patients to complete the first study cohort as planned.

Cellect Biotechnology stocks were up nearly 77%, to $11.11 per share, following the March 27 announcement.