Novoheart to Generate USD $1.7m From Strategic Partnership to Build Good Manufacturing Practice Facility to Create Clinical-Grade Human Stem Cell Libraries

Novoheart is pleased to announce that it has entered into a service agreement with Xellera Therapeutics Limited, representing Phase 1 of an intended long-term strategic partnership between the companies. The vision of the long-term partnership is to build clinical-grade human stem cell libraries for the development of cell-based therapies. Phase 1 will focus on the first steps towards Xellera Therapeutics building a Good Manufacturing Practice (GMP) facility for generating clinical-grade human stem cell lines, initially within the Southern Chinese population. The service agreement will be generating US$1.7M in revenue for the company.

Xellera Therapeutics is a precision medicine company founded by prominent stem cell experts from the U.K., U.S. and Hong Kong with the mission of building haplotype-matched human stem cell libraries for commercializing cell-based therapies for various degenerative conditions affecting organ systems such as the heart, the eye and the central nervous system. These clinical-grade stem cell libraries will allow quicker identification of suitable donor material for cell-based therapies, minimizing the wait and avoiding complications commonly associated with transplantation, such as immune rejection or side effects caused by immunosuppression.

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