INmune Bio (INMB) said Monday that it has successfully processed the first umbilical cord tissue under its commercial agreement with Anthony Nolan Cord Blood Bank.

The biotech company said the achievement marks a milestone under its CORDStrom platform, which is designed to improve donor variability and address manufacturing inconsistency.

INmune Bio said the commercial-ready manufacturing now supports its planned late-stage confirmation trial, as well as US, EU and UK regulatory submissions for future commercial supply.

The company expresses support for the UK Medicines and Healthcare products Regulatory Agency's draft rare therapies regulatory framework, it said.

Shares of INmune Bio were down 3.7% in recent Monday premarket activity.