Celularity, a therapeutic startup, announced Thursday morning that it had received approval from the US FDA to begin clinical trials of its proposed stem cell therapy for coronavirus. You may know that the
human placenta contains stem cells (hematopoietic stem cells and mesenchymal stem cells). Umbilical cord blood contains a large amount of hematopoietic stem cells and is very important for hematopoietic stem cell transplantation.
Hematopoietic stem cells are the source of all blood. Red blood cells, white blood cells, platelets, and all the cells that flow in blood vessels differentiate from hematopoietic stem cells.
Among them are immune cells called NK cells. NK cells are immune cells that attack and eliminate foreign substances, pathogens, and viruses that enter the body. A
clinical trial has been planned to see if it would be effective in treating coronavirus infection, and the FDA (the US government agency equivalent to Japan's Ministry of Health, Labour and Welfare) has given its approval.
Up to 86 patients are expected to receive the treatment.

Quoted from:
[New York Times report]

Source:
[Forbes article]
https://www.forbes.com/sites/alexknapp/2020/04/02/fda-gives-green-light-to-test-a-treatment-against-covid-19-coronavirus-that-flattens-the-curve-in-patients/#7a55a1354b57

Quoted from:
[Video of a conversation between the developer and the Mayor of New York]