Floristem jumps 6% in early trading, after receiving approval from Germany – Global Markets

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The Israeli biotech company Floristem (NYSE: PSTI) jumped 6% in early trading after the German health regulatory agency, the Paul Ehrlich Institute, approved the company’s clinical protocol for Phase 2. Floristem’s study deals with intramuscular injections of PLX PAD, for treatment In severe corona patients.

Forty patients hospitalized with severe cases of COVID 19, who suffer from acute respiratory distress syndrome, will participate in the study. The main end point, will be in 28 days, during which they will check the number of patients who will not need respiration.

“We are pleased to expand the COVID 19 program to further territory, and look forward to beginning clinical trials of PLX cells to treat severe epidemics in Europe. Stated the company’s CEO, Yaki Yanai.

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In addition to research in Germany, Floristem is currently conducting a Phase 2 trial in the United States, involving 140 patients.

The company believes that PLX cells will offer a major advantage in dealing with the global epidemic, and that they are available and can be manufactured in large quantities. These cells have immune properties that may reduce the severity of pneumonia caused by the virus.

The main motive for coronary heart disease mortality is the uncontrolled inflammatory response, which appears healthy after the virus infiltrates, this process is called acute respiratory distress syndrome (ARDS). PLX cells have shown efficacy and safety in initial studies in the treatment of ARDS.

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