STEMCELL Technologies Announces Successful Asset Purchase Agreement with SQZ Biotechnologies Company
Major asset acquisition from a U.S.-based company marks another milestone for Canada’s largest biotechnology company
VANCOUVER, British Columbia–(BUSINESS WIRE)– STEMCELL Technologies is pleased to announce the acquisition of substantially all assets of SQZ Biotechnologies Company (SQZ)—a Massachusetts-based biotech known for its game-changing method of introducing a variety of therapeutic cargo into cells by squeezing them (mechanoporation) rather than using electricity (electroporation).
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STEMCELL Technologies is pleased to announce the acquisition of substantially all assets of SQZ Biotechnologies Company (SQZ)—a Massachusetts-based biotech known for its game-changing method of introducing a variety of therapeutic cargo into cells by squeezing them (mechanoporation) rather than using electricity (electroporation). This transaction, which was approved by SQZ shareholders on February 29, 2024, marks another significant milestone for STEMCELL, Canada’s largest biotechnology company. (Photo: Business Wire)
This transaction, which was approved by SQZ shareholders today, marks another significant milestone for STEMCELL, Canada’s largest biotechnology company.
“This exciting acquisition means that STEMCELL’s own instruments will have the potential to be used in the delivery of cell therapies to cure diseases, like cancer,” said Dr. Allen Eaves, President and CEO, STEMCELL. “This transaction is an important achievement for STEMCELL and a win for Canada’s economy and life sciences sector as it will support the development of innovative cell therapies.”
This is STEMCELL’s second acquisition in the biotechnology sector this year. In January 2024, STEMCELL purchased Propagenix Inc., a Maryland-based biotechnology company focused on developing technologies to enable new approaches in regenerative medicine.
With the approval of the SQZ transaction, STEMCELL has acquired substantially all of SQZ’s assets including its entire portfolio of over 400 patents and trademarks, other intellectual property such as copyrights and trade secrets, proprietary equipment, and its head license with the Massachusetts Institute of Technology.
“Since our inception, SQZ’s vision has been to transform patient outcomes by helping to make life-changing cell therapies widely and rapidly accessible, and we are confident that STEMCELL can drive this important ambition toward a global reality,” said Dr. Howard Bernstein, Interim CEO, SQZ Biotechnologies.
In 2020, STEMCELL exclusively licensed the rights to SQZ’s patent portfolio to develop and commercialize the CellPore™ Transfection System and associated CellPore™ Transfection Kits in the research use market. With this new agreement, STEMCELL will be able to exclusively commercialize these products for use in all markets, including clinical applications.
“Over our 30-year history, STEMCELL has proudly developed the products required for scientific research around the world, and now with SQZ’s technology and proprietary expertise, we are poised to increase our offering even further into the clinical space and ultimately help patients everywhere,” said Dr. Eaves.
About STEMCELL Technologies
STEMCELL Technologies supports life sciences research with more than 2,500 specialized reagents, tools, and services. STEMCELL offers high-quality cell culture media, cell separation technologies, instruments, accessory products, educational resources, and contract assay services that are used by scientists performing stem cell, immunology, cancer, regenerative medicine, and cellular therapy research globally.
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Contacts
Media Contact
For more information and to arrange an interview, contact:
Ryan-Sang Lee
Director, Corporate Communications and Media Relations, STEMCELL Technologies
public.relations@stemcell.com