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Stock impact report

CytoMed Therapeutics completes cash acquisition of Cord Blood Banking Licence and Assets expanding CytoMed’s strategy to cord blood-derived biologics through subsidiary, LongevityBank

CytoMed Therapeutics Limited - Ordinary Shares (GDTC) 
Company Research Source: GlobeNewswire
SINGAPORE, Oct. 03, 2024 (GLOBE NEWSWIRE) -- CytoMed Therapeutics Limited (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 includes (i) a cord blood banking licence issued by Malaysia’s Ministry of Health, (ii) cryopreservation equipment with more than 12,000 cord blood units (“CBUs”) and (iii) two freehold real estate properties totalling 189 square metres in which the operation is situated. This acquisition will expand CytoMed’s strategy in cell therapies as it now has access to rare and precious naïve cord blood donated for research and development. There are abundant c Show less Read more
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