The company said in a statement that it will start clinical testing of FT516 in patients with certain relapsed/refractory hematologic malignancies.
"This allowance by the FDA of our FT516 IND application is a watershed event in the clinical development of engineered cell therapies," Fate CEO said in the statement.
The initial clinical study of FT516 is intended to assess the safety and tolerability of three weekly doses for the treatment of certain relapsed/refractory hematologic malignancies.
Shares jumped more than 6% in pre-market trading on Wednesday.
Price: 14.69, Change: +0.84, Percent Change: +6.06
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