(Adds details; updates share movement)
Nov 10 Biotechnology giant Celgene Corp
(CELG.O) said it received approval from U.S. health regulators
to start human testing of its experimental stem-cell therapy
for the treatment of Crohn's disease.
The company said clinical development of PDA001, its
therapy utilizing human placenta-derived stem cells, would
start by the end of the year.
Crohn's disease is a chronic and often debilitating
inflammatory disease of the colon and large intestine that
affects some 500,000 people in the United States and leads to
frequent hospitalizations and surgery.
On Nov. 4, Genzyme Corp GENZ.O said it would co-develop
two adult stem-cell products of Osiris Therapeutics (OSIR.O)
including Prochymal, which is being tested in late-stage trials
for the treatment of Crohn's disease, among other indications.
Shares of Celgene were up 2 percent at $61.50 Monday
afternoon on Nasdaq.
(Reporting by Vidya L Nathan in Bangalore; Editing by Deepak