Creative Medical Technology Holdings Develops AlloStem™ Clinical Cell Line
Creative Medical Technology Holdings (NASDAQ: CELZ) announced the development of an allogenic cell line, AlloStem™, which includes a Master Cell Bank and a Drug Master File. This filing is intended for FDA registration, enhancing the company's immunotherapy and regenerative medicine initiatives. CEO Timothy Warbington emphasized the benefits of internal development over licensing agreements, reducing risk for various therapeutic programs, including those targeting Type 1 diabetes. The Drug Master File will aid in Orphan Drug Development and does not expire, offering a significant advantage in the biotechnology sector.
- Development of AlloStem™ may enhance the company's immunotherapy offerings.
- Creation of a Drug Master File supports long-term regulatory strategies.
- Internal development reduces reliance on third-party licensing, mitigating risk.
- None.
PHOENIX, Oct. 20, 2022 /PRNewswire/ -- Creative Medical Technology Holdings, Inc. (NASDAQ: CELZ), a biotechnology company focused on a regenerative approach to immunotherapy, endocrinology, urology, neurology, and orthopedics, announced today that through predominantly internal and collaborative development, it has produced an allogenic Cell Line called AlloStem™, which includes a Master Cell Bank and a Drug Master File which shall be submitted for FDA registration.
"The importance of the company creating and developing such assets, as opposed to licensing agreements with third parties, provides further de-risking of an important component to many of our programs, including, but not limited to, the ImmCelz® immunotherapy platform for multiple diseases, OvaStem® for Premature Ovarian Failure, AlloStem™ for Type 1 diabetes, StemSpine® for lower back pain, and IPSCelz ™ inducible pluripotent stem cell program in ongoing development with Greenstone Biosciences," said Timothy Warbington, CEO.
"Drug Master Files, registered with the FDA, are a highly valuable tool in cross referencing data in Orphan Drug Development of interventional drug products, Investigational New Drug Development and Investigational Device Exemptions to the FDA. Drug Master Files do not expire and are utilized by many pharmaceutical and biotechnology giants as well as many other industries for their products, dating back to the 1940s," said Courtney Bartlett DNP, Director of Clinical Development.
"As our programs roll out, the company intends to publicly disclose the progress at the appropriate time," Timothy Warbington said further.
About Creative Medical Technology Holdings
Creative Medical Technology Holdings, Inc. is a biotechnology company specializing in regenerative medicine/stem cell technology in the fields of immunotherapy, endocrinology, urology, neurology and orthopedics and is traded on NASDAQ under the ticker symbol CELZ. For further information about the company, please visit www.creativemedicaltechnology.com.
Forward Looking Statements
NASDAQ Markets has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming clinical trials and laboratory results, marketing efforts, funding, etc. Forward-looking statements address future events and conditions and, therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. See the periodic and other reports filed by Creative Medical Technology Holdings, Inc. with the Securities and Exchange Commission and available on the Commission's website at www.sec.gov.
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SOURCE Creative Medical Technology Holdings, Inc.
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