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news.Stemedica, a wholly owned subsidiary of Stemedica Cell Technologies, and AnC Bio, a manufacturer of stem cell-based products, have entered into joint venture agreement to form StemedicaAnC.
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StemedicaAnC is expected to manufacture stem cells developed by Stemedica for the treatment of ischemic stroke and other degenerative disorders.
Stemedica president and chief medical officer Nikolai Tankovich said that the facility would provide StemedicaAnC with the capacity to manufacture its multiple allogeneic stem cell products to meet international safety and quality standards established by the US Food and Drug Administration (FDA), Swissmedic, the European regulatory agency and Korea’s FDA.
AnC Bio chairman and CEO Alex Choi said that this joint venture will provide stem cell products to institutions that are conducting clinical trials and stem cell research.
AnC Bio president and chief technology officer Ike Lee said that Stemedica’s technology and operating systems would be a significant addition to AnC Bio’s manufacturing facility.