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Stemgent sells reagent and services business unit.

CAMBRIDGE, Mass., October 1, 2014 -- Stemgent Inc. said it has sold its stem cell reagents and services business to RcproCELL in a cash transaction for $8.5 million.

Stemgent is selling the stem cell reagent and services business to focus on expanding its human tissue-based brand, Asterand Biosciences.

Asterand has operated successfully for many years and is a leading global provider of high quality, well characterized human tissue and human tissue-based research services which support drug discovery and development and biomarker development and validation.

Concurrent with the sale, the company name was changed to Asterand Biosciences, Inc.

The sale includes all assets that are used in the stem cell reagents and services business and all employees located in the company's Cambridge Massachusetts facility.

Contact: http://www.asterandbio.com

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Publication:Stem Cell Business News
Article Type:Company overview
Date:Oct 6, 2014
Words:128
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