Gaithersburg’s Propagenix acquired by Canada’s largest biotech firm

Propagenix Inc., a Gaithersburg-based biotechnology company focused on developing technologies to enable new approaches in regenerative medicine, Friday was acquired by STEMCELL Technologies, Canada’s largest biotechnology company.

Terms of the deal were not disclosed.

Founded in 2014, Propagenix has developed and commercialized unique technologies, including its patented EpiX technology. In 2017, STEMCELL licensed the rights to EpiX for research use applications. This technology has the potential to address clinical needs in replacing a patient’s own damaged barrier tissues, like skin and intestinal tissue, with engineered tissue solutions. The current acquisition now enables STEMCELL to develop products based on EpiX technology for clinical applications.

STEMCELL’s acquisition includes all of Propagenix’s assets and intellectual property portfolio, its existing business arrangements, as well as its exclusive license to Conditional Reprogramming technology with Georgetown University. Conditional reprogramming allows scientists to grow tumors and healthy tissue in laboratory settings for research and has potential applications for regenerative medicine and drug screening for personalized medicine.

The Vancouver-based STEMCELL Technologies supports life sciences research with more than 2,500 specialized reagents, tools and services. STEMCELL offers cell culture media, cell separation technologies, instruments, accessory products, educational resources and contract assay services that are used by scientists performing stem cell, immunology, cancer, regenerative medicine and cellular therapy research globally.