On July 29, 2021 panCELLa, a privately held biotechnology company focused on developing safe therapeutic cell products for a broad range of diseases, reported the issuance of the FailSafeTM patent in Israel (Press release, panCELLa, JUL 29, 2021, View Source [SID1234591513]). This patent issued to the Sinai Health System (SHS) protects the exclusive panCELLa technology known as FailSafeTM. FailSafeTM is a superior safety switch compared to other suicide systems as it will not become "lost" or "shut down" during a "mutation" or if the therapeutic cells become deregulated or "go rogue". FailSafeTM can be controlled both prior to or after transplantation in a patient. As well, it is the only quantifiable safety switch on the market allowing patients and clinicians to make an informed decision regarding the risk of a cell therapy going awry.

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FailSafeTM is a valuable therapeutic platform technology that may be applied in numerous indications. Currently, panCELLa is developing therapeutic products through our subsidiaries – Ankarys Therapeutics and Implant Therapeutics – in the areas of immunology, mesenchymal stem cell and pancreatic islets while we continue to seek collaborative and strategic partnerships to develop and monetize additional applications in the area of regenerative medicine.

panCELLa currently has 52 issued or pending patents and has in-licensed the rights to a further 67 issued or pending patents.