eGenesis has announced the acquisition of the assets and operations of one of its production partners, ICBiotec (ICB). 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. Financial terms for the transaction were not disclosed.
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.”
“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,” Luis Queiroz, DVM, Chief Scientific Officer of ICB, said.