Malaysian conglomerate and Main Market-listed company, Texchem Resources Bhd (“Texchem”) has entered into a Letter of Intent (“LoI”) with CellSource Co. Ltd. (“CellSource”), to establish a joint venture (“JV”) to introduce CellSource’s Platelet-derived Factor Concentrate Freeze Dry (“PFC-FDTM”) processing service, which is patented both in Malaysia and Japan, to medical institutions in Malaysia.
CellSource is a regenerative medicine specialist listed on the Tokyo Stock Exchange Growth Market. Headquartered in Tokyo, the company offers cutting-edge processing services for platelet-rich plasma (“PRP”) derived from patients’ blood.
Using a patented and innovative process, CellSource concentrates on the growth factors present in PRP to create PFC-FDTM. This patented and innovative process allows PFC-FDTM to be stored at room temperature for an extended duration, ensuring its long-term viability and effectiveness.
CellSource’s PFC-FDTM processing services will be made available in Malaysia subject to the regulatory approvals by Malaysia’s National Pharmaceutical Regulatory Agency.
Texchem Executive Chairman Tan Sri Dato’ Seri Fumihiko Konishi said, “We are certainly excited to partner with CellSource, an innovator in the field of regenerative medicine, as we see strong synergies arising from this collaboration. Our in-house team has a proven track record of serving the medical/life sciences sectors and has multiple certifications that further validate our expertise and commitment to excellence. This places us in an excellent position to join forces with CellSource and introduce its revolutionary patented PFC-FDTM processing services to medical institutions throughout Malaysia and beyond. By combining our expertise and resources, we aim to bring cutting-edge regenerative solutions to the healthcare landscape in the country. What adds to our excitement is the honour of being CellSource’s first overseas partner, which demonstrates the trust they place in our capabilities.”
Texchem and CellSource plan to establish a JV in Malaysia by end of 2023.
