Theratechnologies Inc. made several transactions related to its ex vivo cell therapy activities, which are being consolidated into a subsidiary named Celmed BioSciences.
The moves included the acquisition of California-based companies NeuroGeneration and NeuroGenomics, as well as a C$60 million (US$39.41 million) financing.
Saint Laurent, Quebec-based Theratechnologies said Celmed represents a global value of C$203 million. It combines a technology transfer from Theratechnologies worth C$125 million and NeuroGeneration and NeuroGenomics, bought for a total consideration of $18 million in shares of Celmed.
Both of the newly acquired companies have developed technologies for the treatment of neurodegenerative diseases.
Societe Generale de Finanacement de Quebec and the Solidarity Fund QFL invested C$30 million each in the financing. The new company will have a team of 40 scientists and plans to significantly increase that number in the next two years.
With a focus on cell therapies, Celmed received authorization from the FDA to conduct a Phase II trial in Parkinson¿s disease using cell therapy derived from autologous neural stem cells, the first of its kind, the company said.
¿ Matthew Willett