Up to 50 jobs could be created by the acquisition of a biotech company by a pioneer firm in Uxbridge.
Precious Cells BioBank (PCBB), an international provider of stem cell services and technologies, has bought stem cell technology specialist Pharmacells Group. The move is expected to create about 50 jobs over the next three years, to meet the anticipated demand for the combined companies’ services.
Precious Cells is based at the Brunel Science Park in the campus of the university in Kingston Lane, Uxbridge. The acquisition, a first in the UK stem cell sector, adds some £25million of revenue to the group over three years. The move has been welcomed by Uxbridge and South Ruislip MP Sir John Randall. “I am delighted that Precious Cells BioBank is creating opportunities for skilled workers and investment in Uxbridge,” he said.
“We are proud of the pioneering technologies and business investment that Brunel Science Park has achieved since it was established.
“Stem cell therapy is a huge growth area and is becoming far more accessible as a treatment for a wide range of diseases and illnesses. I am hugely proud that Uxbridge is leading the way in attracting such beneficial and cutting edge technology industries to the area, as was intended with the establishment of the Science Park.”
Pharmacells Group’s patented Oristem technology allows stem cells to be collected from adults’ blood, yielding up to 25 times more stem cells than taking them from other sources. It is now estimated that there is a one-in-five chance that individuals will use stem cells in their lifetime to treat a particular medical condition or for diagnostics.
Celebrities, dancer Darcey Bussell and former footballer Thierry Henry are among those who have chosen to have their stem cells stored.
Dr Husein K Salem, chief executive of Precious Cells BioBank, said: “This is a highly transformative acquisition for both the company and local area. It will enable Precious Cells BioBank to create significant numbers of jobs locally as it has the infrastructure in place to bring this product to market, embedding considerable value in the business, and accelerating the company’s growth.
“As we continue to invest in R&D and develop these stem cell therapies and diagnostics, it will help to further establish Brunel Science Park as a centre of excellence for stem cell therapies and diagnostics, one of the fastest growing areas of the stem cell sector.”
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