CytoMed Therapeutics Expands Biologics Strategy Through Acquisition
CytoMed Therapeutics Enhances Its Portfolio with Cord Blood Acquisition
CytoMed Therapeutics Limited, a dynamic biopharmaceutical company based in Singapore, is making significant strides in the field of regenerative medicine. Recently, CytoMed, through its subsidiary IPSC Depository Sdn Bhd, secured a cash acquisition of a cord blood banking license and essential assets from Cellsafe International Sdn Bhd, a Malaysian entity currently in liquidation.
Details of the Acquisition
This strategic acquisition encapsulates a cord blood banking license obtained from the Ministry of Health in Malaysia, along with cutting-edge cryopreservation equipment. Notably, the acquisition includes over 12,000 cord blood units (CBUs) and two freehold properties that play a pivotal role in the operational aspect of the business.
Expanding the Vision for Regenerative Medicine
With this acquisition, CytoMed is poised to broaden its approach in cell therapies by leveraging the immense potential of naïve cord blood. Clinical studies have cited numerous advantages of using cord blood in regenerative medicine, particularly in addressing auto-immune diseases and promoting healthy aging. The subsidiary that will drive this initiative is LongevityBank Pte Ltd, which will focus on cord blood-derived biologics.
The Therapeutic Power of Cord Blood
Traditionally regarded as medical waste, cord blood has evolved into a vital resource with enormous therapeutic potential. Unlike adult blood mononuclear cells, which are easily sourced, cord blood presents a rare, yet highly valuable opportunity for innovative cell therapies. Advances in research have allowed scientists to harness the extraordinary properties found in cord blood cells to combat various ailments, including cancers and age-related diseases.
Leadership Insights on the Acquisition
Evelyn Tan, who has recently taken the helm as CEO of IPSC Depository Sdn Bhd, remarked, "This acquisition aims to unlock the therapeutic capabilities of umbilical cord blood, introducing a new strategic direction prioritizing longevity and wellness." Furthermore, she emphasized that while CytoMed will remain dedicated to cancer therapies, LongevityBank will aim to carve out its niche in the regenerative medicine market, with ambitions to eventually operate independently.
Future Aspirations and Collaborative Efforts
Dr. Tan Wee Kiat, co-CEO of CytoMed, expressed enthusiasm about the synergies between the two entities. He noted, "The mononuclear cells harvested from cord blood are pivotal raw materials for developing various cell therapies. We aim to focus specifically on immune gamma delta T cells derived from cord blood to address cancers effectively." CytoMed’s commitment to quality is reinforced by its state-of-the-art facility which adheres to current Good Manufacturing Practice (cGMP) standards, ensuring excellence in production processes.
Building a Specialized Workforce
In its quest to develop this new subsidiary, CytoMed will actively invite experts in the longevity sector to join its board of directors or serve as advisors. This initiative aims to facilitate the growth of LongevityBank’s specialized focus on umbilical cord blood-derived therapies, enhancing its capability in serving this burgeoning market.
About CytoMed Therapeutics Limited
Established in 2018, CytoMed Therapeutics Limited was born from the convergence of cutting-edge research spearheaded by Singapore's Agency for Science, Technology and Research (A*STAR). Committed to developing innovative cell-based allogeneic immunotherapies, the company employs licensed proprietary technologies, including gamma delta T cells and iPSC-derived approaches. CytoMed continues to push boundaries in the treatment of various cancers, particularly exploring novel methodologies inspired by CAR-T therapies.
Frequently Asked Questions
What is the focus of CytoMed Therapeutics Limited?
CytoMed focuses on developing novel donor blood-derived, cell-based therapies for treating cancers and aging-related diseases.
What assets were acquired in the recent deal?
CytoMed acquired a cord blood banking license, cryopreservation equipment with over 12,000 cord blood units, and two properties.
What unique opportunities does cord blood offer?
Cord blood is leveraged for its regenerative properties in treating auto-immune diseases and cancer, making it a valuable resource.
Who is leading the new subsidiary, LongevityBank?
Evelyn Tan is the CEO of IPSC Depository Sdn Bhd and is leading LongevityBank in its focus on regenerative medicine.
What is CytoMed's competitive advantage?
CytoMed has access to state-of-the-art manufacturing facilities and patented technologies that enhance its ability to produce clinical-grade therapies.
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