Canada’s biggest biotechnology company, Vancouver’s Stemcell Technologies, is about to get a bit bigger, with the acquisition of an American biotech.
Stemcell today announced the acquisition of Propagenix Inc., a biotech in Maryland that is focused on regenerative medicine.
“The acquisition of Propagenix is an important step in Stemcell’s growth journey and an achievement for Canada's biotechnology industry,” Stemcell founder and CEO Allen Eaves said in a press release.
“Propagenix’s technology has the potential to contribute to big advancements in scientific research in both labs and clinical settings for the treatment of cancer, airway diseases, and other disorders, and we are thrilled to welcome its portfolio into Stemcell’s product suite.”
Propagenix developed methods for “massive expansion of adult stem cells found in many epithelial tissues such as airway, skin and ocular tissues.” Since 2017, Stemcell has licensed Propagenix’s EpiX technology, which is a novel stemcell culture medium.
“This technology has the potential to address clinical needs in replacing a patient’s own damaged barrier tissues, like skin and intestinal tissue, with engineered tissue solutions,” Stemcell said. “The current acquisition now enables Stemcell to develop products based on EpiX technology for clinical applications.”
