Pharma Focus Europe

STEMCELL Technologies Finalizes Acquisition of Propagenix Inc

Saturday, January 20, 2024

STEMCELL Technologies, a prominent biotechnology company based in Canada, is pleased to announce its recent acquisition of Propagenix Inc., a biotechnology firm located in Maryland. Propagenix is known for its focus on developing technologies that facilitate new approaches in regenerative medicine.

According to Dr. Allen Eaves, President and CEO of STEMCELL, this acquisition represents a significant milestone in the company's growth journey and is a notable achievement for Canada's biotechnology industry. The technologies developed by Propagenix, including its patented EpiX™ technology, hold great promise for advancing scientific research in both laboratory and clinical settings. These advancements are particularly relevant in the treatment of cancer, airway diseases, and other disorders.

Propagenix, founded in 2014, has successfully commercialized unique technologies, and STEMCELL had previously licensed the rights to EpiX™ for research use applications in 2017. The EpiX™ technology has the potential to address clinical needs by replacing damaged barrier tissues, such as skin and intestinal tissue, with engineered tissue solutions. With this acquisition, STEMCELL now has the opportunity to develop products based on EpiX™ technology for clinical applications.

Dr. Brian Pollok, speaking on behalf of Propagenix co-founders, expressed confidence that STEMCELL's team of scientists will effectively deploy Propagenix technologies in the field of epithelial cell biology, benefiting the broader life science research community.

STEMCELL's acquisition encompasses all of Propagenix’s assets and intellectual property portfolio, existing business arrangements, and an exclusive license to Conditional Reprogramming technology with Georgetown University. Conditional Reprogramming allows the growth of tumors and healthy tissue in laboratory settings for research purposes, with potential applications in regenerative medicine and drug screening for personalized medicine.

Dr. Eaves emphasized STEMCELL’s commitment to supporting scientists utilizing Propagenix’s technology, stating, “With Propagenix’s innovative contributions, STEMCELL is eager to assist scientists in advancing research and developing clinical applications, ultimately aiming to improve health outcomes for patients undergoing treatment for specific diseases.”

 

Source: stemcell.com

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