Promethera acquires key Cytonet assets

Belgian cell therapy company Promethera Biosciences today announces it has acquired the key assets of Germany and USA-based biotech firm Cytonet GmbH.

This transaction will result in Promethera becoming the world’s leading and most advanced cell therapy and regenerative medicine company targeting liver diseases. Promethera acquired the Cytonet assets in exchange for Promethera shares. The Hopp family, the lead shareholder of Cytonet, will have up to 13% of the share capital after finalization of the transaction.

This business combination will result in a more diversified and broader Promethera therapeutic pipeline to address a wide range of liver diseases including large indications. These conditions include fibrosis, non-alcoholic steatohepatitis (NASH), acute on chronic liver failure (AoCLF) and hemophilia. Promethera will evaluate additional options to target acute liver failure (ALF) and liver graft dysfunction in the future. Promethera will continue to target orphan indications, including urea cyle disorders (UCD), ILMD and A1AT deficiency (α1-antitrypsin).