Acquisition enables full integration of R&D and production for ongoing and future xenotransplant programs
Contract production partner will become a wholly-owned subsidiary of eGenesis
CAMBRIDGE, Mass., May 20, 2020 (GLOBE NEWSWIRE) -- eGenesis, a biotechnology company using breakthrough gene editing technologies for the development of safe and effective human-compatible organs, tissues, and cells to address the global organ shortage, today announced the acquisition of the assets and operations of ICBiotec (“ICB”), one of its key production partners. ICB is one of the few companies in the U.S. with advanced cloning and large animal transgenic production capabilities integral to the xenotransplantation supply chain.
Under the terms of the transaction, eGenesis will acquire ICB’s existing facilities, equipment, and land. ICB’s research and operations staff will continue as employees of a wholly-owned subsidiary of eGenesis. The acquisition will provide eGenesis with full control of its xeno-organ supply chain.
“eGenesis is committed to advancing therapies for patients in need of organ, tissue, and cell transplants,” said Paul Sekhri, President and Chief Executive Officer of eGenesis. “The acquisition of ICB is a key part of our strategic development plan and enables us to vertically integrate our research, cloning, and production capabilities.”
Luis Queiroz, DVM, Chief Scientific Officer of ICB, added, “For the past several years, we have been working closely with eGenesis to develop engineered organs to support their xenotransplantation programs. We are thrilled to join eGenesis and continue supporting their critical production needs as they advance their approach to helping solve the organ shortage.”
William Westlin, Ph.D., Executive Vice President of Research and Development noted, “In addition to ICB’s state-of-the-art production facilities, eGenesis will have the opportunity to work seamlessly across Research and Development and build synergies with ICB’s team of highly experienced scientists and production specialists. This transaction is an important step as we accelerate our xenotransplant programs toward the clinic with the aim to address the serious shortage of transplantable organs for patients in need.”
Financial terms for the transaction were not disclosed.
About Transplantation and Xenotransplantation
The demand for lifesaving organs far outnumbers available supply. In the U.S. today, 20 people die every day due to lack of available organs for transplant and every 10 minutes an additional name is added to the national transplant waitlist. There are more than 110,000 people in need of an organ transplant in the U.S. alone.
The concept of xenotransplantation, or the transplantation of organs, tissue and cells from one species to another, has been explored for several decades, with the pig considered the most suitable donor for humans. However, until the development of modern gene editing tools, hurdles related to virology and immunology have prevented porcine organ xenotransplantation from advancing beyond early preclinical research.
About eGenesis
eGenesis’ goal is to advance the field of transplantation and make available safe and reliable xeno organs, tissues, and cells to patients in need. eGenesis uses gene editing technology such as CRISPR to directly address the key virology and immunology hurdles that have impeded xenotransplantation to date. eGenesis is advancing an initial product toward the clinic for kidney transplant, with the longer-term potential of addressing a broader organ recipient population and expanding the applicability of xenotransplantation into other areas such as cell therapy. Learn more at egenesisbio.com.
About ICBiotec
ICB was founded in 1998 to advance reproduction for mammalian species by providing cloning and associated services for domestic and international clients across academia and industry. Since its establishment, ICB has grown with the advancement of molecular and reproductive biology and maintains state-of-the-art facilities and a highly skilled team of scientists and production personnel, with a focus on innovative reproductive technologies in livestock species.
Contacts:
Media
Ryo Imai / Robert Flamm, Ph.D.
Burns McClellan, Inc.
212-213-0006 ext. 315 / 364
Rimai@burnsmc.com / rflamm@burnsmc.com
Investors
Steve Klass
Burns McClellan, Inc.
212-213-0006
Sklass@burnsmc.com