Nuvilex enters $21.5 billion stem cell arena through SG Austria acquisition

Arizona, USA-based Nuvilex (OTCQB: NVLX says it plans to continue development of the live-cell encapsulation technology obtained with its recent acquisition of  Singapore-based SG Austria, to carry out the pancreatic cancer clinical trial, to maintain and expand customers utilizing the encapsulation technology, and to establish itself as an active participant in the stem cell arena.

The stem cell market was estimated to be $21.5 billion globally in 2010 and is forecast to reach $63.8 billion by 2015, the US firm noted.

Financial terms of the SG Austria acquisition were not disclosed, but Robert Ryan, president and chief executive of Nuvilex, commented: “SG Austria’s unique cell encapsulation technology will provide us the opportunity to develop treatments for many different diseases such as diabetes, heart disease, and Alzheimer’s, in addition to the pancreatic cancer treatment recently announced. The acquisition of SG Austria now solidifies Nuvilex as a significant player in the field of biotechnology."