Fresenius Medical Care to Invest in Its Stem-Cell Subsidiary Unicyte
05 September 2019 - 11:51AM
Dow Jones News
By Max Bernhard
Fresenius Medical Care AG & Co. KGaA (FME.XE) said Thursday
that it plans to invest 60 million euros ($66.0 million) in its
stem-cell technology subsidiary Unicyte.
FMC said it plans to make the investment in a series A financing
round and that Unicyte will use the money to start clinical trials
of its first product candidates in 2020 and to establish the
necessary manufacturing processes.
Unicyte, which is fully owned by FMC, focuses on kidney and
liver disorders.
"Driving regenerative therapies not only addresses the U.S.
administration's initiative to improve the prevention of end-stage
renal disease, but can help us to significantly slow the
progression of kidney disease and make the most innovative
therapies available to our patients," said Rice Powell, CEO of
Fresenius Medical Care.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
September 05, 2019 05:36 ET (09:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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