Date: 2016-04-18
Type of information: Company acquisition
Acquired company: Cytonet's assets (Germany)
Acquiring company: Promethera Biosciences (Belgium)
Amount: undisclosed
Terms: * On April 18, 2016, Promethera Biosciences announced it has acquired the key assets of Cytonet GmbH & Co KG, the international cellular therapy company involving primary human hepatocytes. Promethera acquired the Cytonet assets in exchange for Promethera shares. The Hopp family, the lead shareholder of Cytonet, will have up to 13% of the share capital after finalization of the transaction. The acquisition of the Cytonet assets will also add to Promethera’s Belgian headquarters in Wallonia, a U.S. facility in Durham, with a team of 18 people for organ and tissue processing, product manufacturing, and world-class liver sourcing with the largest existing Organ Procurement Organizations (OPO) network in the U.S. In addition, a team of seven people from Germany will be added to Promethera Belgian HQ to support a filing of a new drug submission (NDS) for Heparesc with Health Canada.
Details: Promethera Biosciences has developed two cell therapy products, HepaStem® and H2Stem® based on the use of allogeneic progenitor cells and stem cells isolated from healthy adult human livers. These cells could be used to treat a wide variety of liver diseases, from rare inborn metabolic/orphan diseases to acute on chronic liver failure, fibrosis or nonalcoholic steatohepatits in adults. HepaStem has recently and successfully completed a phase I/II clinical study in UCD and Crigler-Najjar syndrome (CNS). It has already received orphan drug designation from both the European Medicines Agency and from the FDA for the treatment of UCD and CNS. This transaction will result in a more diversified and broader Promethera therapeutic pipeline to address a wide range of liver diseases including large indications (fibrosis, Nonalcoholic Steatohepatitis (NASH), acute on chronic liver failure and hemophilia). The pipeline now combinses three different cell products, human hepatocytes (Heparesc®) and human liver derived stem cells (HepaStem® and H2Stem®). Adding the advanced pre-commercial stage product candidate Heparesc® to the Promethera product portfolio will enable early commercialization. This is targeted for 2017 through a Canadian market approval process and recognition by other countries. There is also the potential to combine the different cellular therapy approaches to develop future liver-targeting robust treatments using cell-encapsulation technologies (a Cytonet asset), including the use of biological scaffolds. Promethera will also evaluate additional options to target acute liver failure and liver graft dysfunction in the future. Promethera will continue to target orphan indications, including Urea Cyle Disorders (UCD), ILMD and A1AT Deficiency (?1-antitrypsin).
Related: cell therapy regenerative medicine liver diseases hepatic diseases
