Full Press Release Details
Therapeutics completes cash acquisition of Cord Blood Banking Licence and Assets expanding CytoMed's strategy to cord blood-derived
biologics through subsidiary, LongevityBank
October 3, 2024 - CytoMed Therapeutics Limited (NASDAQ: GDTC) ("CytoMed" or "Company"), a Singapore-based
biopharmaceutical company focused on harnessing its proprietary technologies to develop novel donor blood-derived, cell-based allogeneic
therapies for the treatment of various cancers and aging-related diseases, has through its subsidiary, IPSC Depository Sdn Bhd, acquired
the licence and certain assets of Cellsafe International Sdn Bhd (In Liquidation), a Malaysian cord blood bank.
acquisition includes (i) a cord blood banking licence issued by Malaysia's Ministry of Health, (ii) cryopreservation equipment
with more than 12,000 cord blood units ("CBUs") and (iii) two freehold real estate properties totalling 189 square metres
in which the operation is situated.
acquisition will expand CytoMed's strategy in cell therapies as it now has access to rare and precious na ve cord blood donated
for research and development. There are abundant clinical publications and evidence that cord blood offers a wide range of opportunities
in the fields of regenerative medicine and aging diseases, including auto-immune diseases. This new biotechnology arm will be undertaken
through CytoMed's subsidiary, LongevityBank Pte Ltd. The latter is the holding company of IPSC Depository Sdn Bhd which holds the
cord blood banking licence issued by the Ministry of Health, Malaysia.
considered medical waste, cord blood has emerged as a valuable raw material with significant therapeutic potential in cell therapies.
However, cord blood is a rare and expensive resource unlike adult blood mononuclear cells, which are readily accessible and a common
raw material for researchers. In recent years, researchers have made significant strides in harnessing the unique properties of cord
blood derived cells for combating auto-immune diseases and cancer, as well as promoting healthy aging.
acquisition seeks to unlock the therapeutic potential of umbilical cord blood and adds a new strategic dimension targeting longevity
and wellness" said Evelyn Tan, the newly appointed CEO of IPSC Depository Sdn Bhd. She added "While CytoMed, our publicly
listed holding company, will continue to focus on cancer therapeutics, LongevityBank Pte Ltd will focus exclusively on the regenerative
medicine market, with its ultimate goal to be spun off in the future."
co-CEO Dr Tan Wee Kiat added "Mononuclear cells in the CBU are the starting raw material from which many cell therapies can be
derived. In addition to longevity targets, there is clear synergy between CytoMed and IPSC Depository to focus on deriving immune gamma
delta T cells from cord blood to fight cancers. We own our state-of-the-art, current Good Manufacturing Practice laboratory to ensure
quality and cost-control, and have patented technologies to manufacture clinical grade chimeric antigen receptor cells, or CAR-T cells
as adjunctive therapies, should the no-option patient's doctor recommend it."
Company will be inviting experts in the longevity field to join its board of directors or as advisers as it seeks to develop and grow
this subsidiary as a specialised umbilical cord blood-derived cell therapy arm.
CytoMed Therapeutics Limited (CytoMed)
in 2018, CytoMed was spun off from the Agency for Science, Technology and Research (A*STAR), Singapore's leading research and development
agency in the public sector. It is a biopharmaceutical company focused on harnessing its licensed proprietary technologies, namely gamma
delta T cell and iPSC-derived gamma delta Natural Killer T cell, to create novel cell-based allogeneic immunotherapies for the treatment
of various human cancers. The development of novel technologies has been inspired by the clinical success of existing CAR-T therapies
in treating haematological malignancies, as well as the current clinical limitations and commercial challenges in extrapolating the CAR-T
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candidates; the initiation, timing, progress and results of the Company's current and future pre-clinical studies and clinical
trials and the Company's R&D programs; the Company's expectations regarding the impact of future COVID-19 outbreak on
its business, the Company's industry and the economy; the Company's estimates regarding expenses, future revenue, capital
requirements and needs for additional financing; the Company's ability to successfully acquire or obtain licenses for additional
product candidates on reasonable terms; the Company's ability to establish and maintain collaborations and/or obtain additional
funding and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with
the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in
this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov.
The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that
arise after the date hereof.
Therapeutics Limited
Corporate Officer, CytoMed Therapeutics Limited;
Executive Officer of IPSC Depository Sdn Bhd