Benzinga | Jul 16, 2021 12:27PM EDT

Celularity Closes SPAC Merger With GX Acquisition, Trading Starts Monday

* Celularity Inc has closed the merger with GX Acquisition Corp (NASDAQ:GXGX), giving Celularity $138 million to push the NK cell and T cell therapies into early-stage trials.

* The combined company will operate under the name Celularity Inc (NASDAQ:CELU), and its common stock will commence trading on the NASDAQ from Monday (19 July) under the ticker symbol CELU.

* The company expanded its ongoing Phase 1 trial of CYNK-001 in patients with acute myeloid leukemia (AML)to include patients with relapsed/refractory AML (r/r AML) in addition to its ongoing trial in measurable residual disease (MRD).

* To date, no dose-limiting toxicity was observed with outpatient administration of three doses.

* The FDA granted Orphan Drug Designation to CYNK-001 for the treatment of patients with malignant gliomas.

* CYNK-001 is currently in a Phase 1 trial for glioblastoma multiforme.

* For Phase 1/2 COVID-19 trial assessing CYNK-001, no evidence of dose-limiting toxicities or evidence of no worsening inflammatory biomarkers was observed, and enrollment is ongoing.

* Price Action: GXGX shares are up 32.20% at $10.60 during the market session on the last check Friday.