NEW YORK (GenomeWeb) – Cellectis today announced it is selling its stem cell-focused subsidiary Cellectis AB to Takara Bio for an undisclosed amount.
The sale is the final step in Cellectis' restructuring of its Tools and Services business unit, which it said had been incurring heavy losses. The unit had an operating loss of €14 million ($18.8 million) in 2013 before accounting for extraordinary depreciation and costs related to downsizing.
Cellectis AB focuses on applications of human embryonic stem cell-based products and technologies for the research market and industry. Cellectis said the sale is expected to result in a loss of about €5 million. It added that the deal, expected to be completed in the coming weeks, will allow it to concentrate on its immunotherapy products for cancer applications.
Takara Bio is a Japanese biotechnology firm focused on gene therapies, genetic engineering, and provides research tools for molecular biology, cell biology, and protein research.