Caladrius: 'Hitachi will unlock full potential of cell therapy CDMO PCT'

By Dan Stanton contact

- Last updated on GMT

Image: iStock/macgyverhh
Image: iStock/macgyverhh

Related tags: Cell therapy

Hitachi Chemical Co. America will increase its presence in the cell therapy development and manufacturing space through the $75m acquisition of Caladrius Biosciences subsidiary PCT.

The US off-shoot of Japanese firm Hitachi Chemical has entered an agreement to up its position in cell therapy contract development and manufacturing organisation (CDMO) PCT by buying out majority shareholder Caladrius Biosciences for a total of $75m in a deal expected to close in May.

“I’m delighted to report the entry into an agreement for the acquisition of our remaining 80.1% interest in PCT by Hitachi Chemical,”​ Caladrius CEO David Mazzo said on a conference call to discuss his firm’s Q4 results this week. “This transaction has the potential to unlock the tremendous value of our PCT asset in a way that was unimaginable just a few years ago.”

He explained Caladrius has been “increasingly challenged by the tens of millions of dollars of additional capital investment need over the next several years for PCT to fully realise its cell therapy commercial manufacturing growth goals,” ​and added Hitachi is in a position “to deploy the capital and engineering capabilities” ​needed to achieve these.

Caladrius will continue to use PCT for the manufacturing and development of its own cell therapy candidates – including CLBS03, a T-regulatory (Treg) cell-based therapy for the treatment of type 1 diabetes mellitus – “without the burden of having to try to support and grow that business due to the very, very large capital needs necessary to remain competitive,” ​he told stakeholders.

The deal will include the transfer to Hitachi of cGMP-compliant facilities in Allendale, New Jersey and Mountain View, California offering quality systems, streamlined technology transfer, storage and logistics, and cell and tissue processing services.

In a statement following the announced acquisition, PCT said: “Our relationship with our clients does not change based on this announcement, nor will it change based on the finalization of this transaction.”

Related news

Show more

Related products

show more

dPCR Case Study

dPCR Case Study

CellCarta | 08-Aug-2022 | Case Study

Streamline your adoptive cell therapy program with digital PCR. Our team has a unique expertise in digital and quantitative PCR to support you in ensuring...

The Reagents Behind Much of Molecular Biology

The Reagents Behind Much of Molecular Biology

Thermo Fisher Scientific | 25-Jul-2022 | Case Study

The ability to amplify, modify and fabricate DNA is fundamental to modern molecular biology. Why do so many researchers take their constituent parts for...

Microsampling in Early Phase Drug Development

Microsampling in Early Phase Drug Development

Altasciences | 10-May-2022 | Technical / White Paper

Microsampling significantly lessens the volume of blood and plasma/serum that is collected and analyzed to determine circulating concentrations of therapeutic...

Seasonal Vaccine Manufacturing

Seasonal Vaccine Manufacturing

Baxter BioPharma Solutions | 16-Feb-2022 | Technical / White Paper

The production of seasonal vaccines, such as those for influenza, presents unique challenges to manufacturers due to the necessary time constraints resulting...

Related suppliers

Follow us

Products

View more

Webinars