Source: Karen Arnold , no changes made.
Esperite N.V. and Polski Bank Komórek Macierzystych S.A. (PBKM) have announced that they have entered into an Memorandum of Understanding (MoU) regarding the potential acquisition by PBKM of substantially all of Cryo-Save’s business related to stem cell banking. The Proposed Acquisition leverages the respective strengths and quality standards of the two publicly traded companies that are both leading in the stem cell banking sector. Cryo-Save is one of the largest and longest operating stem cell banks in Europe, in which more than 330,000 umbilical cord blood samples and tissues are stored.
ESPERITE is a diversified biotech global group leader in regenerative and precision medicine. Established in 2000, the holding group is headquartered in the Netherlands, listed at Euronext Amsterdam and Paris and operational in over 30 countries.
ESPERITE transforms the power of state-of-the-art technologies and scientific advancements into high quality products that bring the future of medicine to customers today at an affordable price.
CryoSave, which was acquired by ESPERITE in 2005, has fully equipped a new safe and secure sample storage BioBank in its state-of-the-art central laboratory in Geneva, Switzerland specifically designed for optimal cryopreservation of all biological samples and therefore providing peace of mind to institutional clients and families.
Simultaneously with the present MoU, PBKM and the Cryo-Save have executed the Back-Up and Storage Agreement concerning the storage of all Cryo-Save stem cells by PBKM in its state of the art and fully secured laboratories in Warsaw, Poland, subject to parties obtaining consent from the relevant governmental authorities. The Back-Up and Storage Agreement has an initial term of 5 years and may be extended by the mutual consent of the parties. In relation to the Back-Up and Storage Agreement, PBKM (as lender) and Cryo-Save (as borrower) have entered into a loan agreement on market terms in the amount of EUR 800.000. The loan has been granted for the period of 6 months as from today.
“The potential transaction with Esperite would significantly strengthen the position of the FamiCord Group on the European family blood banking market. We would double the number of cord blood and tissue samples stored and deliver a big step forward in the consolidation of European market. The contract guarantees us exclusivity to conduct negotiations until the end of June this year.” – Jakub Baran, the co-founder, shareholder and President of the Management Board of PBKM S.A.
“This potential transaction is an important step in the history of our company as we want to focus on Biopharmaceuticals and Immunotherapies. Esperite has the opportunity to deliver great value to our stakeholders and to build the future of Regenerative and Predictive Medicine in Europe.” – Frederic Amar, CEO Esperite.
Sources:
- https://globenewswire.com/news-release/2019/02/22/1739997/0/en/ESPERITE-NV-ESP-AND-PBKM-FAMICORD-GROUP-SIGN-EXCLUSIVE-AGREEMENT-REGARDING-POTENTIAL-ACQUISITION-OF-CRYO-SAVE-S-FAMILY-STEM-CELL-BANKING-BUSINESS.html
- https://www.crunchbase.com/organization/cryo-save-italia-srl#section-overview
