ProTrans Phase II COVID-19 Trial Accepted for Publication in Cytotherapy

March 13, 2026

NextCell Pharma AB (“NextCell” or the “Company”) announces that the Phase II clinical trial evaluating ProTrans® (allogeneic Wharton’s Jelly-derived mesenchymal stromal cells) for respiratory complications associated with COVID-19 has been accepted for publication in Cytotherapy, the official journal of the International Society for Cell & Gene Therapy.

The study, titled “Umbilical Cord Mesenchymal Stromal Cells for Respiratory Complications of COVID-19 Infection (ProTrans): Phase II Randomized Clinical Trial,” reports results from ProTrans19+, a randomized, double-blind, placebo-controlled, multi-center Phase II study conducted in Canada.

The trial was investigator-initiated and sponsored by McGill University Health Centre (MUHC). NextCell supported the study by supplying ProTrans. Patients were recruited at two McGill University–affiliated hospitals in Montreal: The Royal Victoria Hospital and the Jewish General Hospital.

ProTrans19+ evaluated the safety and exploratory efficacy of a single intravenous infusion of ProTrans in hospitalized patients with severe COVID-19 pneumonia requiring oxygen support. The trial was discontinued early due to feasibility considerations in the context of evolving standards of care and reduced event rates during later stages of the pandemic.

The study confirms the short-term safety of ProTrans in hospitalized patients receiving contemporary standard-of-care therapies. Due to limited enrollment and early termination, no definitive conclusions regarding efficacy can be drawn.

“The publication underscores the robustness of the ProTrans manufacturing platform, and the potential for the drug’s use in a growing number of inflammatory conditions. This trial has also demonstrated the importance of rigorous trial design when evaluating advanced therapies in rapidly changing clinical settings,” said Lindsay Davies, PhD, Chief Scientific Officer of NextCell Pharma.

Lindsay Davies and CEO Mathias Svahn are co-authors of the publication.

Acceptance for publication in Cytotherapy reflects the scientific rigor of the study and contributes to the growing body of clinical evidence evaluating mesenchymal stromal cell therapies in inflammatory lung disease.

The publication is available via the link: https://www.isct-cytotherapy.org/article/S1465-3249(26)00736-X/abstract

For more information about NextCell Pharma, please contact
Mathias Svahn, CEO
Eric Gustafsson, CFO
Tel: +46 8 735 5595
E-mail: info@nextcellpharma.com

Websites:
NextCell Pharma AB: www.nextcellpharma.com
Cellaviva Sverige: www.cellaviva.se
Cellaviva Danmark: www.cellaviva.dk
QVance AB: www.qvance.se

LinkedIn: https://www.linkedin.com/company/15255207/
Twitter: https://twitter.com/NextCellPharma

Certified Adviser
The company's shares are listed on the Nasdaq First North Growth Market.
RedEye Nordic Growth AB is the company´s Certified Adviser.

About NextCell Pharma AB
NextCell Pharma is a clinical-stage cell therapy company developing ProTrans, a patent-protected platform based on allogeneic mesenchymal stromal cells (MSCs) from umbilical cord tissue. Using a proprietary selection algorithm, ProTrans delivers optimised cell tailored to specific indications.  In type 1 diabetes, a single infusion has been shown to preserve insulin production and delay disease progression for at least five years.  A Phase III trial is planned to commence upon securing a commercial partner. ProTrans is also being evaluated for other autoimmune and inflammatory conditions. NextCell’s subsidiaries include Cellaviva, Scandinavia’s largest private stem cell bank, and QVance, the Nordic region’s first dedicated provider of quality services for developers of advanced therapies.

Download attachmentRead full press release on Cision (external link)
2025-07-14
NextCell Highlighted in FUJIFILM’s Strategic Vision, According to GEN
NextCell Pharma AB (“NextCell” or “the Company”) is pleased to announce that its strategic collaboration with FUJIFILM Biosciences has been highlighted in an article published on 8 July by Genetic Engineering & Biotechnology News (GEN). The article covers FUJIFILM’s recent rebranding and long-term ambition to act as a full-spectrum partner to drug and vaccine developers throughout the entire development cycle.
Read moreRead more
2025-07-03
Republishing of: NextCell announces strategic collaboration with FUJIFILM Biosciences
NextCell Pharma AB’s ("NextCell" or "the Company") has entered into a strategic collaboration with FUJIFILM Biosciences Inc. to bring together their core competences in mesenchymal stromal cells (MSCs) and raw materials for the life science sector. The aim of the collaboration is to provide researchers and developers in the cell therapy field with an integrated offering – standardised MSC products, optimised culture media, and cryopreservation solutions.
Read moreRead more
2025-06-13
All Patients Successfully Treated in ProTrans-Young Study
NextCell Pharma AB ("NextCell" or the "Company") announces today that all patients in the ongoing ProTrans-Young clinical trial have now successfully been treated. This milestone marks the completion of patient dosing in the company’s largest clinical study to date. ProTrans-Young is evaluating the safety and efficacy of the Company’s lead cell therapy candidate, ProTrans, in paediatric and adolescent patients with recently diagnosed type 1 diabetes.
Read moreRead more
2025-06-02
NextCell Pharma announces outcome of exercise of TO2 and resolves on directed share issues to guarantors
THIS PRESS RELEASE MAY NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN, NEW ZEALAND, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, CANADA, HONG KONG, BELARUS, RUSSIA OR IN ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLISHING OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTATION OR OTHER MEASURES IN ADDITION TO THOSE REQUIRED BY SWEDISH LAW. SEE SECTION "IMPORTANT INFORMATION" AT THE END OF THIS PRESS RELEASE. NextCell Pharma AB (“NextCell” or the “Company”) today announces the outcome of the exercise of warrants of series TO2 (the “Warrants”), which were issued in connection with the Company’s rights issue of units during the second quarter of 2024. In total, 24,945,532 Warrants have been exercised, corresponding to approximately 64.4 percent of the total number of outstanding Warrants, for subscription of 24,945,532  shares at subscription price of SEK 1.00 per share. As a result, guarantee commitments of 11,614,000 shares, corresponding to approximately SEK 11.6 million, have been utilized. Thus, the board of directors of the Company has resolved on a directed issue of 11,614,000 shares (the “Directed Issue”) to the investors who had provided guarantee commitments. Through the exercise of Warrants and the Directed Issue, the Company will receive total proceeds of approximately SEK 36.6 million before deduction of issue-related costs. Furthermore, the board of directors has resolved on a set-off issue of 1,742,100 shares to the guarantors to pay the guarantee compensation (the "Remuneration Issue").
Read moreRead more
2025-05-28
NextCell Pharma receives additional declarations of intent regarding exercise of TO2
THIS PRESS RELEASE MAY NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN, NEW ZEALAND, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, CANADA, HONG KONG, BELARUS, RUSSIA OR IN ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLISHING OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTATION OR OTHER MEASURES IN ADDITION TO THOSE REQUIRED BY SWEDISH LAW. SEE SECTION "IMPORTANT INFORMATION" AT THE END OF THIS PRESS RELEASE. NextCell Pharma AB ("NextCell" or the "Company") today announces that the Company has received additional non-binding declarations of intent regarding the exercise of warrants of series TO2 (“Warrants”). The new declarations correspond to approximately SEK 5.5 million, equivalent to approximately 14.1 percent of the total number of outstanding Warrants. In total, the Company has now received declarations of intent, subscription undertakings, and guarantee commitments amounting to approximately SEK 24.0 million, corresponding to approximately 61.9 percent of the total issue volume.
Read moreRead more
2025-05-28
Angela Vollstedt joins NextCell Pharma’s Board of Advisors to Strengthen Scientific and Manufacturing Strategy Ahead of Licensing Discussions
NextCell Pharma AB ("NextCell" or "the Company") is pleased to announce the appointment of Dr. Angela Vollstedt, PhD, MBA, to its Board of Advisors, reinforcing the company’s strategic shift toward pivotal development and licensing of its lead drug candidate, ProTrans, for the treatment of type 1 diabetes. Dr. Vollstedt currently serves as Global Director of Cell & Gene Therapies Portfolio Management at Novartis, where she leads cross-functional teams in the development, scaling, and commercialisation of advanced therapies.
Read moreRead more
2025-05-26
NextCell Receives US Patent for MSC Prediction Algorithm
NextCell Pharma AB ("NextCell" or "the Company") is pleased to announce the issuance of a US patent titled “MSC Prediction Algorithm” by the United States Patent and Trademark Office (USPTO). The patent protects NextCell’s innovative methodology for predicting the efficacy of mesenchymal stromal cell (MSC) therapy in individual patients, as well as the approach for determining personalised treatment options based on that prediction.
Read moreRead more
2025-05-23
NextCell Pharma receives declarations of intent, subscription undertakings and top guarantees regarding exercise of TO2
THIS PRESS RELEASE MAY NOT BE RELEASED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, JAPAN, NEW ZEALAND, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND, CANADA, HONG KONG, BELARUS, RUSSIA OR IN ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLISHING OR DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR REQUIRE REGISTATION OR OTHER MEASURES IN ADDITION TO THOSE REQUIRED BY SWEDISH LAW. SEE SECTION "IMPORTANT INFORMATION" AT THE END OF THIS PRESS RELEASE. NextCell Pharma AB ("NextCell" or the "Company") issued a total of 38,711,804 warrants of series TO2 (“Warrants”) within the framework of a rights issue of units during the second quarter of 2024. The exercise period for the Warrants runs until and including 30 May 2025. One (1) Warrant entitles the holder to subscribe for one (1) new share in the Company at a subscription price of SEK 1.00 per share. NextCell today announces that the Company has received declarations of intent from all of the Company’s senior executives and Board members who hold Warrants and subscription undertakings from a selection of existing Warrant holders regarding the exercise of held Warrants, totalling approximately SEK 6.9 million, corresponding to approximately 17.8 percent of the total number of outstanding Warrants. In addition, the Company has secured top guarantees from a selection of existing Warrant holders and shareholders as well as external investors corresponding to an additional approximately 30 percent of the total issue volume. The top guarantees, together with the received declarations of intent and subscription undertakings, ensure that the Company will receive minimum proceeds of approximately SEK 18.5 million, corresponding to approximately 47.8 percent of the total issue volume.
Read moreRead more