SINGAPORE, Oct. 03, 2024 — (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.
The acquisition encompasses (i) a cord blood banking licence granted by Malaysia’s Ministry of Health, (ii) cryopreservation equipment with a capacity exceeding 12,000 cord blood units (“CBUs”) and (iii) two freehold real estate properties encompassing a total of 189 square metres, where the operation is situated.
This acquisition will bolster CytoMed’s strategy in cell therapies, granting them access to rare and valuable naïve cord blood donated for research and development. Numerous clinical publications and evidence support the vast potential of cord blood in regenerative medicine and aging diseases, including autoimmune disorders. This new biotechnology division will be managed under CytoMed’s subsidiary, LongevityBank Pte Ltd. LongevityBank Pte Ltd serves as the holding company for IPSC Depository Sdn Bhd, which holds the cord blood banking licence issued by the Ministry of Health, Malaysia.
Once considered medical waste, cord blood has emerged as a valuable raw material with significant therapeutic potential in cell therapies. However, cord blood remains a scarce and expensive resource, unlike adult blood mononuclear cells, which are readily accessible and commonly used as a raw material by researchers. In recent years, researchers have made significant strides in utilizing the unique properties of cord blood-derived cells to combat autoimmune diseases and cancer, as well as promote healthy aging.
“This acquisition aims to unlock the therapeutic potential of umbilical cord blood and introduces a new strategic dimension focused on longevity and wellness,” stated Evelyn Tan, the newly appointed CEO of IPSC Depository Sdn Bhd. She added, “While CytoMed, our publicly listed holding company, will remain focused on cancer therapeutics, LongevityBank Pte Ltd will dedicate its efforts solely to the regenerative medicine market, with the ultimate objective of being spun off in the future.”
CytoMed’s co-CEO Dr Tan Wee Kiat added, “Mononuclear cells within the CBU serve as the initial raw material for deriving numerous cell therapies. Beyond longevity targets, a clear synergy exists between CytoMed and IPSC Depository to concentrate on extracting immune gamma delta T cells from cord blood to combat cancers. We possess our own state-of-the-art, current Good Manufacturing Practice laboratory to ensure quality and cost control, and hold patented technologies for manufacturing clinical grade chimeric antigen receptor cells, or CAR-T cells, as adjunctive therapies, should the no-option patient’s doctor recommend it.”
The Company plans to invite experts in the longevity field to join its board of directors or serve as advisors as it strives to develop and expand this subsidiary as a specialized umbilical cord blood-derived cell therapy division.
About CytoMed Therapeutics Limited (CytoMed)
Incorporated in 2018, CytoMed emerged as a spin-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 leveraging 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 hematological malignancies, as well as the current clinical limitations and commercial challenges in extrapolating the CAR-T principle into the treatment of solid tumors. For more information, please visit and follow us on Twitter (“X”) ,on , and
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may, “will, “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company’s plans to develop and commercialize its product 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.
Contact :
CytoMed Therapeutics Limited
Attention :
Evelyn Tan
Chief Corporate Officer, CytoMed Therapeutics Limited;
Chief Executive Officer of IPSC Depository Sdn Bhd
