Celularity Inc. (NASDAQ:CELU) stock surged Thursday after the company announced a U.S. manufacturing collaboration with MuseCell Innovations.
Under the agreement, Celularity will work to establish U.S. production of Dezawa MuseCells at its facility in Florham Park, New Jersey.
Deal Could Expand
The initial program will focus on authenticated cell preparations made from qualified perinatal, bone marrow or adipose materials. Celularity will use the licensed Dezawa Method and MuseCell’s product specifications.
The collaboration also covers products derived from the cells. These include Dezawa MuseExosomes and Dezawa MuseSecretome.
If the initial project succeeds, the companies plan to expand the relationship. MuseCell estimates that the broader partnership could generate more than $300 million in purchases from Celularity over five years. However, that projection depends on future programs and market conditions.
New Jersey Facility Takes Center Stage
Celularity operates a 147,215-square-foot manufacturing facility in New Jersey. The site supports cell therapy production, process development, quality testing and analytical work.
The expanded collaboration could also create more than 200 high-tech jobs at the facility. Those roles would span biomanufacturing, engineering, quality control and support functions.
Celularity will continue developing its own placental-derived therapies, including cenplacel-L. Meanwhile, the MuseCell partnership gives the company another way to use its manufacturing capacity and cellular medicine expertise.
CELU Price Action: Celularity shares were up 131.72% at $2.04 at the time of publication on Thursday, according to Benzinga Pro data.
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