Diamond Biofund announced on the 20th that it has invested an additional NT$620 million in StemCyte-KY through its "Diamond No. 1" fund, facilitating the completion of a NT$1.2 billion cash capital increase. This investment is aimed at accelerating the development and international marketing of StemCyte's cell therapy products.

Wu You Mei, General Manager of Diamond Biofund, stated that Diamond No. 1 is a venture capital fund managed directly by Diamond Biofund, primarily focused on investing in biotech companies that have entered the commercialization stage. StemCyte stands out as Taiwan’s only cell therapy company with international operational capabilities. The company also operates both public and private umbilical cord blood banks and collaborates with over 350 medical centers worldwide, having completed more than 2,300 umbilical cord blood transplants. StemCyte's core products, which include umbilical cord blood-based drugs, API raw material supplies, and cell storage and preparation services, are entering the commercialization phase, making this a significant investment for Diamond Biofund in the cell therapy sector.

Tong-Young Lee, CEO of StemCyte, expressed optimism about the global development of the cell therapy industry and emphasized the company's ongoing efforts to enhance its international competitiveness in this field. StemCyte's core allogeneic cell therapy product, RegeneCyte®, is currently under review by the U.S. FDA and is expected to receive approval this year, positioning StemCyte as the first biotech company in the Asia-Pacific region to obtain U.S. FDA approval for an umbilical cord blood stem cell drug.

StemCyte is also leading the world's first Phase II clinical trial using allogeneic umbilical cord blood cells to treat long COVID, with patient enrollment already completed in the U.S. and results expected next year. Additionally, StemCyte is conducting a Phase II clinical trial for the treatment of acute ischemic stroke using allogeneic umbilical cord blood cells, the first such trial globally approved by the U.S. FDA to use two doses of HLA-matched allogeneic umbilical cord blood.

Lee also highlighted that StemCyte is accelerating its commercialization efforts. The company's U.S. FDA-standard cell bank is now capable of supplying compliant and commercializable cell raw materials to global cell therapy companies and CDMOs. StemCyte also received millions of dollars in grants from the U.S. government this year to increase the number of collection points in public hospitals, thereby enhancing the capacity of its cell bank and further strengthening its international commercialization capabilities.

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