PCT to be Hitachi Chemical’s global brand in fast-growing regenerative medicine market
ALLENDALE, N.J., May 18, 2017 – PCT Cell Therapy Services, LLC (PCT), a leading contract development and manufacturing organization for the cell therapy industry, announced today that Hitachi Chemical Co. America, Ltd. (Hitachi Chemical`s consolidated subsidiary) has completed its purchase of the remaining membership interest in PCT from Caladrius Biosciences. With this acquisition, PCT becomes an independent business unit focused on cell therapy and regenerative medicine within the life sciences division of Hitachi Chemical.
The completed acquisition allows Hitachi Chemical to fully leverage PCT’s extensive experience in cell therapy development and manufacturing technology, wide-ranging manufacturing locations, robust sales network, and other resources to expand and strengthen its services in the United States and add services in Japan, Europe and other regions.
Robert A. Preti, Ph.D., co-founder and president of PCT will assume the role of Chief Executive Officer and President of PCT, responsible for development, management and oversight of the global business operations of Hitachi Chemical’s regenerative medicine business unit.
“As a member of the Hitachi Chemical family, PCT will be able to expand manufacturing capacity, capabilities and service offerings to more effectively and efficiently meet the needs of our clients anywhere in the world,” said Dr. Preti. “With the backing of Hitachi Chemical, we look forward to establishing a global network of facilities for cell therapy development and manufacturing in which we integrate the expertise, experience and technologies of our combined organization.”
In October 2016, Hitachi Chemical announced its investment of approximately $17.5 million in establishing a new contract development and manufacturing facility for regenerative medicine cells and other products in Yokohama, Japan. The advanced facility will begin full operation in April 2018. This and other PCT locations will share the same global platform for quality and information systems, manufacturing operations, and technology transfer protocols, ensuring a seamless approach to serving clients and accelerating creation of a global commercial manufacturing enterprise.
“The acquisition of PCT marks an important milestone in the expansion of Hitachi Chemical’s regenerative medicine-related businesses,” said Hisashi Maruyama, CEO of Hitachi Chemical. “The synergy of PCT’s expertise in cell therapy with Hitachi Chemical’s expertise in the life sciences and advanced manufacturing technologies for the cleanroom environment, with the full utilization of the outstanding cell manufacturing equipment, production facilities and IT proficiency of the Hitachi Group will allow us to better serve the global cell therapy industry and help our clients deliver innovative new therapies to patients in need.”
About PCT
PCT is a leading development and manufacturing partner to the global cell therapy industry. PCT works with its clients to overcome the fundamental challenges of cell therapy manufacturing by providing a wide range of innovative services including product and process development, GMP manufacturing, engineering and automation, cell and tissue processing, logistics, storage and distribution, as well as expert consulting and regulatory support. PCT is a wholly owned subsidiary of Hitachi Chemical Co. America, Ltd. For more information, visit www.pctcelltherapy.com
About Hitachi Chemical
Hitachi Chemical Co., Ltd. (TSE:4217), headquartered in Tokyo, Japan, delivers wide range of innovative products, such as electronic materials, automobile parts, energy storage devices and systems, in global markets. The company’s consolidated revenues for fiscal 2016 (ended March 31, 2017) totaled 554 billion yen ($4.9 billion). For more information on Hitachi Chemical, please visit the company’s website at http://www.hitachi-chem.co.jp/english/
Media Contact:
Rachel Newman
Spectrum Science Communications
Direct: 404-865-3603
Mobile: 404-574-8519
