NantCell, a US-based immuno-oncology subsidiary of healthcare technology company NantHealth, has acquired Italy-based biotechnology company VivaBioCell for an undisclosed sum, giving an exit to insurance provider Generali.
VivaBioCell has created technology to engineer tissue from stem cells to help patients following cancer treatment. The technology focuses on bone regeneration and osteoarthritis, which is a form of arthritis, as well as dental, jaw and facial reconstruction.
The company has also developed a medical device able to identify autoimmune diseases systemic sclerosis and systemic lupus erythematosus.
Generali reportedly invested in VivaBioCell as part of a €440,000 ($490,000) round in 2007, its only publicly disclosed round, that also included venture capital fund Friulia and financial services provider Banca Popolare di Cividale. The insurance firm held an 11.5% stake in VivaBioCell as of 2010.
NantCell paid for the acquisition with the funds raised from a $75m equity round earlier this month, provided by undisclosed investors.
Patrick Soon-Shiong, who founded NantWorks in 2011, said: “For nearly a decade, the team at VivaBioCell has been focused on discovering and developing therapies that utilise stem cell and tissue engineering for regenerative medicine.
“Bringing the two organisations together strengthens NantCell’s capabilities in tissue engineering and cell culture capabilities and enables next-generation low cost manufacturing systems in the era of cell based immunotherapy.”