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Cellmid Ltd Completes World First Study Accelerating Bone Healing

Cellmid Ltd (ASX:CDY) has completed a world first study showing accelerated bone fracture healing in a rodent through treatment with a midkine (MK) antibody.

Cellmid owns a portfolio of MK antibody assets which it intends to commercialise through clinical development.

As a result of the study, a patent has been filed and the results have been published in the British Journal of Pharmacology.

The data generated adds substantial commercial value to Cellmid's MK assets, which have already showed promise in chronic kidney disease models.

Complications in bone healing result in a higher cost to the health care system as well as a burden to patients, highlighting the need for better therapies such as Cellmid's MK antibodies.

Study details

The study was completed in collaboration with a leading bone research group in Germany.

Dr Liedert and her team used Cellmid's therapeutic MK antibody to treat experimental bone fractures in aged rodents.

The MK antibody treatment resulted in a faster bone replacement and better quality, stronger bone within the fracture.

Background

Cellmid has two business segments, consumer health and its MK portfolio.

Cellmid holds the largest and most comprehensive portfolio of intellectual property relating to the MK and FGF5 globally.

Cellmid's consumer health division currently sells hair growth products, which were developed using FGF5 related intellectual property.

Cellmid aims to follow in the footsteps of FGF5 by commercialising its MK portfolio.

Cellmid has recently set up dedicated subsidiaries, Lyramid Limited and Kinera Limited as part of its clinical development plan to commercialise its MK antibody assets.

Lyramid will develop the company's large MK antibody portfolio, assessing likely therapeutic indications in fibrotic diseases and cancer.

Kinera will commercialise the company's MK protein assets in ischemic diseases, with a focus on chronic heart disease.

Analysis

These study results and recognition by the British Journal of Pharmacology highlight the commercial value of Cellmid's MK asset portfolio.

A commercial partnership with Lyramid or Kinera will act as a key catalyst for Cellmid.

Cellmid shares are up 70% over the past three months, trading at $0.033 per share.

Upcoming events for Cellmid include:

- An évolis® concept store in Tokyo planned to open in late CY2016; and
- Distribution partnerships to expand into the U.S. before the end of FY2016.

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