CCM Duopharma group managing director Leonard Ariff Abdul Shatar said:
KUALA LUMPUR: CCM Duopharma Biotech Bhd
(CCM Duopharma) has bought a 5.8% stake in South Korea's SCM Lifescience Co., Ltd, which specialises in stem cell therapeutics, for RM20.24mil.
CCM Duopharma, which develops generic drugs and branded healthcare products, said on Thursday this marked its foray into regenerative medicine.
It also entered into an exclusive marketing and commercialisation deal with SCM. It acquired the rights to market and commercialise products developed by SCM in selected Asean countries.
SCM specialises in stem cell therapeutics with proprietary platform technology in the field of high-purity isolation and cultivation of mesenchymal stem cells.
CCM Duopharma group managing director Leonard Ariff Abdul Shatar said: “CCM Duopharma has been looking very closely at potential strategic investments in regenerative medicines as well as stem cells.
“Today’s agreement has laid the groundwork to penetrate the South East Asia market and could provide a driving force for global expansion of both entities.”
“This is our first foray into regenerative medicine, specifically in allogeneic stem cells, in line with our strategy to enter niche areas which will enable the company to expand its product portfolio to move into high value therapeutics
and gain early access to the technology and the rights to market products by SCM Lifescience in Malaysia, Singapore, Brunei and Philippines with the first right of refusal for all other Asean countries excluding Indonesia,” he added.
Leonard said this strategic investment would enable the company to have access to a range of pipeline products which will be ready to commercialise in the next few years.
The acquisition includes technical knowledge transfer to the company on cell-based therapy products.
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