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Generex signs SPA for 51 percent controlling interest in ALTuCELL

Author : Pankaj Singh | Published Date : 2019-11-26 

Canadian biotech firm Generex Biotechnology Corporation has recently revealed that it has signed a SPA or Stock Purchase Agreement with fellow biotech company, ALTuCELL. This agreement carried out in a stock and cash transaction will help Generx acquire 51% controlling interest in ALTuCELL. Furthermore, under agreement terms, Generex will obtain a vast cell encapsulation technology and cellular therapy portfolio.

ALTuCELL’s patent portfolio contains worldwide patents for cell encapsulation platform AltuCaps®, alongside patents for capsule manufacturing, chemistry and ultra-purification. ALTuCELL has also earned a Microencapsulation of Myofibroblasts (Stem cells) Isolated from Wharton Jelly for Prevention and Treatment of Autoimmune and Inflammatory Diseases wide-ranging patent. Generex will offer this patent for collaboration and licensing towards the development of new products for cell therapy. The patent will also support stem cell companies in patenting their proprietary cell therapy products with market protection worldwide.

According to industry experts, ALTuCELL’s latest filed patent will blaze the trail for the use of implanted cells in the treatment of several chronic conditions. The Alginate Microcapsules for Cell and Molecular Therapy that Secrete Bioactive Immune Molecules patent will allow implantation of cells capable of secreting therapeutic antibodies to advance the treatment of several disorders such as arthritis, cancer, inflammatory bowel disease and psoriasis, among others.

ALTuCELL CEO & President Gary Harlem has reportedly been quoted as stating that the patent will yield outstanding consequences. With over a decade of experience at the University of Perugia in Italy, Mr. Harlem has worked with numerous cell encapsulation technology world leaders towards developing cell implantation-based diabetes treatment.

Mr. Harlem further commented on the SPA, stating that this alliance with Generex will allow ALTuCELL to take progressive steps towards achieving their objective of curing Type 1 diabetes as well as other inflammatory and autoimmune maladies.

Generex CEO and President Joe Moscato also expressed his views on the alliance, stating that this acquisition would reinforce ALTuCELL’s diabetes franchise to leverage microencapsulated Sertoli Cells Altsulin for a potential Type 1 diabetes cure.  He also said that this alliance will give ALTuCELL access to a sophisticated cellular microencapsulation technology with global patents with robust scope in regenerative and cellular therapies.

The transaction is expected to conclude by the end of the year.
 

Source Credit: https://www.globenewswire.com/news-release/2019/11/25/1951973/0/en/Generex-Biotechnology-Signs-Stock-Purchase-Agreement-to-Acquire-51-of-ALTuCELL-Inc.html

About Author

Pankaj Singh

Pankaj Singh

Endowed with a post graduate degree in management and finance, Pankaj Singh has been a part of the online content domain for quite a while. Having worked previously as a U.K. insurance underwriter for two years, he now writes articles for fractovia.org and other online portals. He can be contacted at- [email protected] | https://twitter.com/PankajSingh2605

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