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Stem Cell Firm Cryo-Save Group Forms Genomics, Proteomics Business Unit

NEW YORK (GenomeWeb) – Stem cell storage company Cryo-Save Group today announced the formation of a business unit focused on predictive medicine using genomics and proteomics technologies.

The creation of the unit, called Genoma, is part of a wide-ranging reorganization of Cryo-Save's operations that also include the formation two other business units focused on cord blood and tissue cyro-preservation and translational regenerative medicine R&D.

Cryo-Save also said that the name of its holding company has been changed to Esperite and that it has acquired certain businesses from Salveo Biotechnology.

Genoma, which is anticipated to launch in the third quarter, facilitates Cryo-Save's entry into the genomics and proteomics predictive medicine space, it said. Genoma's initial products will consist of Tranquility, a non-invasive prenatal test; Verity, a metabolic disorder test; and the Omega Test, an omega-3 test. Further tests are also being developed in collaboration with unnamed partners, Cryo-Save added.

The company also formed the Cryo-Save business unit to continue the group's cord blood and tissue cryo-preservation operations. In conjunction with this, the group entered into an asset sale and purchase agreement to buy parts of Salveo for €2.1 million ($2.9 million). Specifically, the Cryo-Save Group is acquiring Salveo's Swiss laboratory-related cord blood and cord tissue process and storage assets, its regenerative medicine assets, and its central commercial and IT functions.

Additionally, the Cryo-Save Group formed the Cell Factory business unit to expand on its current R&D activities with a focus on regenerative medicine.