CyGenics to focus on tissue, blood banking businesses

By Lisa Kerner

Charlotte, N.C., Sept. 7 - CyGenics Ltd. will now focus on its revenue-generating tissue and core blood banking businesses now that the company has divested its non-tissue banking subsidiary Cell Sciences in exchange for a stake in a Malaysian biopharmaceutical company.

In the past year, revenues from CyGenics' blood banking businesses increased 115%.

The company plans to expand its tissue banking businesses into new geographic markets, including China. CyGenics said it will also seek out-licensing partners for its stem cell expansion and T-cell production technologies.

Melbourne, Australia-based CyGenics operates the BioCell and CordLife tissue and cord blood banking businesses.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.