Insception Lifebank and Cells for Life Join the Generate Life Sciences Family to Create a Global Platform – Yahoo Finance

The acquisition provides the companies with shared scientific knowledge and resources leading to a stronger foundation for advancing newborn stem cell research

TORONTO, June 2, 2021 /CNW/ -- The Cell Care international umbilical cord blood and tissue banking group, which incorporates Insception Biosciences Inc. (Insception) in Canada, today announced that it has been acquired by Generate Life Sciences (Generate).* Generate operates Cord Blood Registry (CBR), North America's largest cord blood bank and one of the world's preeminent stem cell R&D organizations. Insception joins CBR to create a unique, international scientific collaboration to further newborn stem cell and regenerative medicine research. As a result of the acquisition, Insception will, in addition to cord blood and tissue banking, provide Canadian families with greater access to reproductive and genetic services to grow and protect families from pre-conception into adulthood.

"We envisioned a truly international platform from which to offer our reproductive, genetic and stem cell services when we established Generate Life Sciences," commented Richard Jennings, CEO of Generate. "Insception Biosciences is Canada's most experienced cord blood banking group, and we are excited to include them in our global network of leading stem cell companies. This international collaboration provides an opportunity to utilize our collective strengths to advance the use of newborn stem cells in future therapies."

"Generate is certainly the best partner for Insception and Cells for Life in Canada given their industry and scientific leadership," says Brent Dennison, Insception's CEO. "The great benefit to our customers will be our collaboration with Generate's scientific team who are driving exciting developments in therapeutic applications using newborn stem cells. It delivers important value to the 100,000+ Canadian families who have banked their children's stem cells with our group." Mr. Dennison noted that clients and healthcare professionals will continue working with the Insception group's Canadian team. Insception and Cells for Life process and store newborn stem cells at Insception's state-of-the-art facility in Toronto.

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"Newborn stem cells have unique properties that make them a preferred biological source for an increasing number of conditions," said Jaime Shamonki, MD, Generate's Chief Medical Officer. "The Insception group and CBR have conducted numerous clinical trials investigating the uses for cord blood and tissue derived-cells. Now, with Insception joining the largest newborn stem cell bank in the United States, we have created a global infrastructure for researching and manufacturing newborn stem cells to power this rapidly expanding category of therapies."

Stem cells derived from the umbilical cord have emerging uses in regenerative medicine given their anti-inflammatory, immune-modulating, and tissue reparative properties. The Insception group and Generate research and develop cord blood and tissue-derived cellular therapies through partnerships with leading academic institutions and biotech firms. Most recently, the Insception group helped establish a cord blood trial for preterm babies at risk of neurological damage and Generate has established a biorepository to facilitate investigational studies in both acute and persistent COVID-19 using newborn stem cells through their extensive network of research partners.

*This transaction is still pending approval from the Foreign Investment Review Board (FIRB) of Australia, which governs the Cell Care group.

About Generate Life SciencesGenerate Life Sciences Inc. is a life sciences company helping to grow and protect families through reproductive, newborn stem cell, genetic screening, medical device, and healthcare technology services. We serve families from preconception to post-birth. Our brands CBR (Cord Blood Registry), California Cryobank, Donor Egg Bank USA, NW Cryobank, ReadyGen, Kitazato USA, and Donor Application are pioneering leaders that have helped nearly one million families. Headquartered in Los Angeles, Generate operates facilities in Tucson, New York, Boston, Palo Alto, and Rockville, MD. Generate is a portfolio company of GI Partners, a private investment firm based in San Francisco.

About Insception Biosciences Inc.Insception Biosciences Inc. is part of the Cell Care group which comprises Insception Lifebank, Cells for Life, and the Victoria Angel public bank in Canada, and Cell Care in Australia. The combined group is one of the world's top 10 companies in the sector with over 200,000 cord blood and tissue samples stored. The Cell Care group has invested in clinical trials investigating the impact of autologous cord blood in type-1 diabetes, sibling cord blood in cerebral palsy and has supported research into expansion technologies for a number of years. Prior to the acquisition, the Cell Care group was a portfolio company of CPE Capital, a private investment firm based in Sydney, Australia. Visit http://www.insception.com for more information.

Media ContactAzeem ZeekryaHDMZazeem.zeekrya@hdmz.com312-506-5244

Between Life and Science is Opportunity (PRNewsfoto/Generate Life Sciences)

SOURCE Generate Life Sciences

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Insception Lifebank and Cells for Life Join the Generate Life Sciences Family to Create a Global Platform - Yahoo Finance