CCM Duopharma buys 5.8pc of SCM Lifescience for RM20.24m
KUALA LUMPUR: CCM Duopharma Biotech Bhd has acquired a 5.8 per cent stake in SCM Lifescience Co Ltd of South Korea for RM20.24 million.
The generic drugs and healthcare products manufacturer said both parties had entered into an exclusive marketing and commercialisation agreement, whereby CCM Duopharma acquired the rights to market and commercialise products developed by SCM Lifescience in selected territories in Southeast Asia.
SCM Lifescience specialises in stem cell therapeutics with proprietary platform technology in the field of highpurity isolation and cultivation of mesenchymal stem cells.
CCM Duopharma group managing director Leonard Ariff Abdul Shatar said the group had been looking at potential strategic investments in regenerative medicines as well as stem cells.
“It has laid the groundwork to penetrate the Southeast Asian market and could provide a driving force for global expansion of both entities
“This is our first foray into regenerative medicine, specifically allogeneic stem cells, in line with our strategy to enter niche areas which will enable the firm to expand its product portfolio to move into high-value therapeutics, and gain early access to the technology and the rights to market products by SCM Lifescience in Malaysia, Singapore, Brunei and the Philippines with the first right of refusal for all other Asean countries, excluding Indonesia,” he said.
The group said the strategic investment would open up opportunities for CCM Duopharma to have access to a range of pipeline products, which would be ready to commercialise in the next few years.
The company said the acquisition included technical knowledge transfer on cell-based therapy products.