SOHM, Inc. (SHMN) Completes Acquisition of ABBIE G
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Posted On: 10/19/2023 4:41:22 PM
SOHM, Inc. (SHMN) Completes Acquisition of ABBIE Gene-editing Tech, Begins Preparations to Commercialize Solutions for Heart Disease
- Generic drug manufacturer and distributor SOHM has completed the LOI process to acquire stem cell gene-editing technology ABBIE from CGA Intellectual Holdings Inc.
- The company expects the technology to provide it with commercialization revenues as it builds a solution for gene-enhanced stem cells that can be used to treat a number of diseased organs, beginning with heart ailments
- The edited-gene cells are expected to be used for in-human clinical trials by 2025, using a non-viral vector for inserting the genes into patients’ bodies
- SOHM believes the technology will provide it with a competitive advantage in a market expected to grow from current annual revenues of $5.3 billion to $10.8 billion by 2028
Global generic drug innovator SOHM (OTC: SHMN) is celebrating the fulfillment of its letter-of-intent to acquire a disruptive stem cell technology and patents from CGA Intellectual Holdings Inc., which will allow the company to create regenerative medicine and cosmeceutical products for commercialization during the next year.
SOHM’s acquisition of ABBIE (A Binding Based Integrating Enzyme) grants it the ability to edit genes of a large number of cell types at different stages in their life cycles, overcoming the limitations of current cell editing and cell engineering technologies, according to the company.
“ABBIE is a platform tool that delivers genes of interest for clinical trials. Compared to other gene-editing technologies, ABBIE has achieved the same level of progress with much less R&D spending,” COO David Aguilar, PhD, stated in the company’s announcement (https://nnw.fm/Bed5T ). “Our strategic partnerships and capital management have enabled us to streamline development and expedite our commercialization.”
Analysts at Markets And Markets report the gene-editing market is expected to grow to $10.8 billion in annual revenues by 2028 — a 15 percent CAGR from current estimates of $5.3 billion. ABBIE’s acquisition positions SOHM to be competitive in the market.
SOHM intends to use ABBIE to edit the genes of stem cells that are recognized as the body’s foundational building blocks with the ability to change themselves into various function-specific genes. The edited genes would then be inserted into patients’ bodies using non-viral vectors to treat damaged organs in conditions such as ischemic heart disease or heart failure.
The technology is undergoing further development to “optimize expression and purification of its protein-based platform,” according to the news release, but SOHM expects to be able generating revenues immediately through licensing and gene-editing kits that are expected to be available in the third or fourth quarter of next year.
SOHM then expects to see ABBIE used for in-human trial by Q4 of 2025.
The company is already scheduled to deliver presentations on ABBIE at scientific conferences including the American Association of Cancer Research’s gathering in San Diego next April, and at SynbioBeta 2024 in San Jose in May.
“ABBIE will soon become a reality and make a difference in the lives of millions of people who suffer from heart disease,” Aguilar stated (https://nnw.fm/1ESuo ).
For more information, visit the company’s website at www.SOHM.com.
NOTE TO INVESTORS: The latest news and updates relating to SHMN are available in the company’s newsroom at https://nnw.fm/SHMN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- Generic drug manufacturer and distributor SOHM has completed the LOI process to acquire stem cell gene-editing technology ABBIE from CGA Intellectual Holdings Inc.
- The company expects the technology to provide it with commercialization revenues as it builds a solution for gene-enhanced stem cells that can be used to treat a number of diseased organs, beginning with heart ailments
- The edited-gene cells are expected to be used for in-human clinical trials by 2025, using a non-viral vector for inserting the genes into patients’ bodies
- SOHM believes the technology will provide it with a competitive advantage in a market expected to grow from current annual revenues of $5.3 billion to $10.8 billion by 2028
Global generic drug innovator SOHM (OTC: SHMN) is celebrating the fulfillment of its letter-of-intent to acquire a disruptive stem cell technology and patents from CGA Intellectual Holdings Inc., which will allow the company to create regenerative medicine and cosmeceutical products for commercialization during the next year.
SOHM’s acquisition of ABBIE (A Binding Based Integrating Enzyme) grants it the ability to edit genes of a large number of cell types at different stages in their life cycles, overcoming the limitations of current cell editing and cell engineering technologies, according to the company.
“ABBIE is a platform tool that delivers genes of interest for clinical trials. Compared to other gene-editing technologies, ABBIE has achieved the same level of progress with much less R&D spending,” COO David Aguilar, PhD, stated in the company’s announcement (https://nnw.fm/Bed5T ). “Our strategic partnerships and capital management have enabled us to streamline development and expedite our commercialization.”
Analysts at Markets And Markets report the gene-editing market is expected to grow to $10.8 billion in annual revenues by 2028 — a 15 percent CAGR from current estimates of $5.3 billion. ABBIE’s acquisition positions SOHM to be competitive in the market.
SOHM intends to use ABBIE to edit the genes of stem cells that are recognized as the body’s foundational building blocks with the ability to change themselves into various function-specific genes. The edited genes would then be inserted into patients’ bodies using non-viral vectors to treat damaged organs in conditions such as ischemic heart disease or heart failure.
The technology is undergoing further development to “optimize expression and purification of its protein-based platform,” according to the news release, but SOHM expects to be able generating revenues immediately through licensing and gene-editing kits that are expected to be available in the third or fourth quarter of next year.
SOHM then expects to see ABBIE used for in-human trial by Q4 of 2025.
The company is already scheduled to deliver presentations on ABBIE at scientific conferences including the American Association of Cancer Research’s gathering in San Diego next April, and at SynbioBeta 2024 in San Jose in May.
“ABBIE will soon become a reality and make a difference in the lives of millions of people who suffer from heart disease,” Aguilar stated (https://nnw.fm/1ESuo ).
For more information, visit the company’s website at www.SOHM.com.
NOTE TO INVESTORS: The latest news and updates relating to SHMN are available in the company’s newsroom at https://nnw.fm/SHMN
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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