Cytomed Therapeutics acquires assets and license of Malaysian cord blood bank

CytoMed Therapeutics has through its subsidiary, IPSC Depository, acquired the license and certain assets of Cellsafe International, a Malaysian cord blood bank. The acquisition includes a cord blood banking licence issued by Malaysia’s Ministry of Health, cryopreservation equipment with more than 12,000 cord blood units and two freehold real estate properties totalling 189 square metres in which the operation is situated. This new biotechnology arm will be undertaken through CytoMed’s subsidiary, LongevityBank. The latter is the holding company of IPSC Depository which holds the cord blood banking licence issued by the Ministry of Health, Malaysia. 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. The company will be inviting experts in 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.