FamiCord Group invests in stem cell bank owned by Smart Cells Holdings Limited, UK
Warsaw, Poland, August 31, 2021 / PRNewswire / – Polski Bank Komórek Macierzystych SA (PBKM), which heads the international FamiCord group, Europe largest stem cell bank, signed a transaction agreement with shareholders of Smart Cells Holdings Limited, based in London, United Kingdom, to acquire a majority stake in the stem cell bank operating in Britain, Middle East (United Arab Emirates, Lebanon, Oman, Bahrain, Kuwait and others) and Hong Kong.
The transaction was closed on August 4, 2021. FamiCord acquired 84.2% of the shares of Smart Cells Holdings Limited. The transaction was financed with the equity of PBKM.
– We are very happy to welcome another well organized and very efficient stem cell bank to the FamiCord group. This is a new step in our strategy to consolidate the European market for family cord blood banks, which itself attracts multiple takeover targets that interest us. Europe and our global presence in the markets of Middle East (United Arab Emirates, Lebanon, Oman, Bahrain , Kuwait and others) and Hong Kong, where Smart Cells Holdings operates.
We will focus on strengthening the Smart Cells markets in the UK and UAE with the goal of reaching # 1 within the next two years. We believe that with our diverse product line, scientific expertise in many countries, and financial strength, we will be the strongest service provider for stem cells and related health products.
I would like to add that we continue to seek further acquisitions in European and other markets – said Jakub baran, co-founder, shareholder and Chairman of the Management Board of PBKM SA (the leading entity of the international FamiCord group).
Shamshad Ahmed– Founder and CEO of Smart Cells International Ltd says:
– I am delighted that Smart Cells is now part of the Famicord family of companies. We are confident that the combination of our excellent customer service and world-class storage facilities with the global reach and research capabilities of PBKM will provide existing and new customers with unmatched product offerings to protect the health of their families.
Our vision has always been for Smart Cells to be a global business enabling people to store their children’s stem cells with a business based on excellent science and integrity.
I am so proud of what Smart Cells has accomplished together, and now with the scale and presence, we are even closer to inspiring many others to take charge of the health and well-being of their families.
Smart Cells Holdings Limited was founded in 2001. It is the first private stem cell storage company in the UK to market units of stored stem cells for the treatment of children with life-threatening or debilitating diseases. Since its inception, Smart Cells has released the highest number of samples for use in UK private bank transplants for use in UK and other country transplants (21 versions in 6 countries) of some of its 40,000 customers. The Company operates in the United Kingdom (laboratory near London Heathrow airport),Italy, Albania, Middle East, South Africa, Kenya , Pakistan, and Hong Kong. After collection at the birth site, the biological material is transported for storage in the Company’s UK laboratory ”
Polski Komórek Macierzystych Bank heads the international FamiCord group, which operates stem cell banks located in Europe. After the transaction, the FamiCord group will store 610,000 samples belonging to more than 450,000 families. FamiCord’s main activity is the supply, processing and long-term storage of stem cells from umbilical cord blood and other post-fetal tissues on behalf of parents (family banking). The purpose of this bank is to ensure the safety of the family in the event of a serious illness requiring a stem cell transplant in the donor or members of his immediate family.
The FamiCord Group is now present in more than 35 European countries. It offers direct services to clients in Poland, Turkey, Spain, Portugal, Hungary, Romania, Switzerland, Italy, Luxembourg, Germany, Latvia, Lithuania and Estonia, and more recently in the Czech Republic, Slovakia, Britain, Middle East (Dubai, Abu Dhabi, Lebanon) and Hong Kong. It is one of the leading companies in almost all of these countries. In addition, it provides services to partners who acquire customers in Sweden, Denmark, Serbia and the Balkan countries, Italy and Ukraine. The Group’s services are provided through a network of its own banks and through cooperating banks located in Switzerland, Sweden, Ukraine, the United States and other countries.
At May 31, 2021 PBKM and Vita 34 AG – the largest private stem cell bank in the DACH region (Germany, Austria and Switzerland) signed a business combination agreement. The business combination will take place through the exchange of PBKM shares for newly issued Vita 34 shares. The proposed business combination will create a stronger pan-European family stem cell bank with combined revenues of approximately 67 million euros (based on results published in 2020) and having a total market capitalization of approximately 249 million euros (at the closing prices of May 28, 2021).
In addition, the Group invests in the development of manufacturing services for advanced therapy drugs (ATMP), considered to be one of the most important developments in medicine. The PBKM group is also involved in nearly 10 clinical trials, in which drugs based on stem cell fractions have already been administered to patients about 700 times.
Since May 2016, PBKM is listed on the main market of the Warsaw Stock Exchange.
SOURCE FamiCord Group