IRVINE, Calif., March 08, 2021 – HealthBanks Biotech (USA), Inc. (“HealthBanks” or the “Company”), a premium cell banking network, today announced that through its subsidiary, ImmuneCyte Inc. (“ImmuneCyte”), the Company has executed an acquisition agreement with Boyalife Group (“Boyalife”) to acquire the entire Boyalife Cellular Therapy Division, for an undisclosed sum.
HealthBanks’ subsidiary, ImmuneCyte, focuses on the clinical development of cellular therapeutics for cancers and other diseases with significant unmet medical needs. With the execution of this agreement, ImmuneCyte will acquire Boyalife Tianjin, a 160,000 sq. ft. research facility, a list of intellectual properties, and other operating assets. The combined companies will focus on expanding the development of the next generation of cancer treatment therapies, including chimeric antigen receptor (CAR)-T cell therapy and CAR-NK cell therapy, as well as other cell-based therapies for rare genetic disorders.
For nearly 20 years since its establishment in 2001, HealthBanks’ network has been at the forefront of the cell banking technologies and discovering new ways cell therapies can be used to treat and cure diseases. The Company currently is one of only two cell banks in the U.S. to provide mesenchymal stem cell (MSC) processing services from newborn cord tissue. Most recently in 2020, HealthBanks was also the first company to launch GMP-compliant immune cell banking services in the U.S. and offers individuals the opportunity to cryostore their own healthy immune cells for the future use in CAR-T and other immune cell therapies to fight cancer.
“The merger between ImmuneCyte and Boyalife’s Cell Therapy Division will expand HealthBanks’ patient-to-patient ecosystem of products and services offered to its cell banking customers and will extend HealthBanks’ technology to a number of new cellular therapy applications,” said Dr. Chris Xu, Chairman of HealthBanks. “Through the latest development of CAR-T therapies using one’s own immune cells, we believe cell-based therapies will play a major role in medicine for the next 30+ years. We are just scratching the surface when it comes to discovering effective treatments for hundreds of diseases. Adding to our extensive domain of stem cell and immune cell banking services will allow the future benefits of cell and gene therapy to everyone in need.”
For more information of HealthBanks, visit: www.healthbanks.us
About HealthBanks Biotech (USA), Inc.
HealthBanks, headquartered in Irvine, California, is one of the premium cell banking networks in the world and offers services globally through itself and its global network partners. HealthBanks is accredited by the FDA, AABB, and CAP. Since its establishment in 2001, HealthBanks has 20-year track record of technology innovation, serving hundreds of thousands of clients directly and through its network companies. For more information about HealthBanks, please visit: www.healthbanks.us.
About Boyalife Group Ltd.
Boyalife Group, Ltd., headquartered in Wuxi, China, is a privately-held life science holding company. Boyalife is focused on advancing stem cell technology and its applications through innovative research and collaborations. For more information about Boyalife Group, Ltd., please visit: www.boyalife.com.
Company Contact:
Gloria Chen
949-379-5248
gchen@healthbanks.us
Media Contact:
Liz Robinson, Hackett Brand Consulting
847-702-8099
liz@hackettbrandconsulting.com
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