Celularity rises on deal to manufacture MuseCell's cell therapy platform

** Shares of biotech firm Celularity CELU.O rose 35% to $1.19

** The company said it will manufacture Dezawa MuseCells, an experimental cell therapy platform, and related products in the U.S. under a collaboration with MuseCell Innovations.

** It said the initial program will establish production capabilities for Dezawa MuseCells at its Florham Park, New Jersey, facility.

** MuseCell believes the expanded relationship could generate more than $300 million in aggregate purchases from Celularity over the next five years.

** The company said the broader collaboration could create more than 200 jobs across biomanufacturing, quality control, engineering and support functions at the New Jersey site.

** Neither Celularity's experimental cell therapy cenplacel-L nor MuseCell products are approved by the U.S. FDA for any use.

** Including session's move, the stock is down about 6% year to date.