Celularity Announces Presentation at Upcoming 7th International Conference on Orthopedics

Data will be presented from an in vitro study of decellularized-flowable placental connective tissue matrix supporting cellular functions of human tenocytes

FLORHAM PARK, N.J., June 29, 2023 (GLOBE NEWSWIRE) — Celularity Inc. (Nasdaq: CELU) (Celularity), a biotechnology company developing placental-derived allogeneic cell therapies and biomaterial products, announced today that the Company will present data from a new product technology in development for orthopedic applications at the upcoming 7th International Conference on Orthopedics, July 19th – 20th in Rome.

These data, which will be presented in an oral session entitled, “A Decellularized Flowable Placental Connective Tissue Matrix Supports Cellular Functions of Human Tenocytes In Vitro,” summarize Celularity’s recent benchtop studies indicating the potential therapeutic application of decellularized flowable placental connective tissue matrix (DF-CTM) for tendon repair.

Tendon injuries are associated with considerable pain and disability. Tendon healing is controlled by tenocytes, a main tendon cell type, and their surrounding extracellular matrix, and is orchestrated through three multifaceted, overlapping stages, namely inflammatory, proliferative, and remodeling.

Due to the hypovascularity and hypocellularity of the tendon tissue, natural tendon healing is slow and ineffective, and traditional conservative and surgical treatment options fail to address the underlying pathology. As a result, the healed tendon often is mechanically incompetent and prone to degeneration and rupture. Therefore, new methods are required to facilitate tendon repair and regeneration. Celularity’s hypothesis is that DF-CTM could provide structural and biochemical matrix components for tenocyte attachment, proliferation, and phenotype maintenance while decreasing inflammatory response.

Celularity’s in vitro study tested tenocyte adhesion, proliferation, migration, phenotype maintenance, and inflammatory response when cultured on Celularity’s decellularized flowable placental CTM. Tenocyte proliferation and migration were significantly higher for DF-CTM than the control cultures (p = 0.005). In tenocytes cultured on DF-CTM, gene expressions indicative of tenocyte phenotype maintenance significantly increased over time (p < 0.001), including expressions of Scleraxis (SCX), a marker for differentiated tendon cells, Tenascin-C (TNC), an important factor in collagen fibril organization, Collagen type I (COL1A1), and Collagen type III (COL3A1). In tenocytes cultured on DF-CTM, the effects of TNF-α, an inflammatory cytokine, were diminished as indicated by significantly reduced expression of proinflammatory cytokines CXCL8 (p = 0.024) and MMP1 (p < 0.001). Over time, tenocytes cultured on DF-CTM promoted the expression of antifibrotic growth factor TGFβ3.

In this in vitro evaluation, DF-CTM interacted favorably with human tenocytes as evidenced by tenocyte proliferation, maintenance of tenocyte phenotype, and attenuated inflammatory response.

“We are very encouraged by the performance of our advanced placental-derived biomaterials, and we believe these data enhance our understanding of the potential application of DF-CTM for tendon repair, which could address a significant unmet need for patients with tendon injuries,” said Robert J. Hariri, M.D., Ph.D., Celularity’s CEO, Chairman and Founder. “Celularity leverages a diversified portfolio of therapeutic technologies all derived from a single source material — the post-partum placenta. Our novel business model is to research and develop proprietary cellular and regenerative therapeutics including biomaterial products. Celularity is unique in having a bifurcated manufacturing capability where biomaterial products represent a complementary revenue-generating opportunity that support our cellular therapy and regenerative medicine programs. It is our vision that cellular and biomaterial technologies may one day represent a means to create combination therapeutic strategies that harness natural regenerative processes and create more robust and durable clinical benefits. These early tenocyte data are an important demonstration of our ongoing commitment and focus on innovation leveraging the placental platform we have pioneered.”

About Celularity

Celularity Inc. (Nasdaq: CELU) headquartered in Florham Park, N.J., is a biotechnology company leading the next evolution in cellular and regenerative medicine by developing allogeneic cryopreserved off-the-shelf placental-derived cell therapies, including therapeutic programs using mesenchymal-like adherent stromal cells (MLASCs), T-cells engineered with CAR (CAR T-cells), and genetically modified and unmodified natural killer (NK) cells. These therapeutic programs target indications in autoimmune, infectious and degenerative diseases, and cancer. In addition, Celularity develops, manufactures, and commercializes innovative biomaterial products also derived from the postpartum placenta. Celularity believes that by harnessing the placenta’s unique biology and ready availability, it can develop therapeutic solutions that address significant unmet global needs for effective, accessible, and affordable therapies.

To learn more, visit celularity.com

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995, as well as within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts are “forward-looking statements,” including those relating to future events. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “can,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intends,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “strive,” “target,” “will,” “would” and the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. The forward-looking statements in this press release include express or implied statements regarding the potential application of DF-CTM for tendon repair, and Celularity’s ability to advance its technology platform to develop therapeutic options for unmet patient needs, among others. Many factors could cause actual results to differ materially from those described in these forward-looking statements, including but not limited to: the inherent risks in biotechnological development, including with respect to the development of novel biomaterial products and cellular therapies, and the clinical trial and regulatory approval process; and risks associated with Celularity’s current liquidity, as well as developments relating to Celularity’s competitors and industry, along with those risk factors set forth under the caption “Risk Factors” in Celularity’s annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on March 31, 2023, and other filings with the SEC. These risks and uncertainties may be amplified by current economic situations, including inflation, supply chain issues and overall economic uncertainty. If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Celularity does not presently know, or that Celularity currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, these forward-looking statements reflect Celularity’s current expectations, plans, or forecasts of future events and views as of the date of this communication. Subsequent events and developments could cause assessments to change. Accordingly, forward-looking statements should not be relied upon as representing Celularity’s views as of any subsequent date, and Celularity undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Celularity Contact:
Paul Graves, Chief Communications Officer
Celularity Inc.

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