PETALING JAYA: Malaysian conglomerate and Main Market-listed company Texchem Resources Bhd has entered into a letter of intent with CellSource Co Ltd to establish a joint venture (JV) to introduce CellSource’s Platelet-derived Factor Concentrate Freeze Dry (PFC-FDTM) processing service, which is patented 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 approval by Malaysia’s National Pharmaceutical Regulatory Agency.
CellSource Co Ltd CEO and representative director Masato Tsumamoto said: “This signing represents a key milestone for our company as it marks our first JV business overseas as part of our geographical expansion. Malaysia serves as our initial destination, chosen for its potential in medical tourism, which is bolstered by the establishment and support of the Malaysia Healthcare Travel Council.
“Therefore, we are delighted to have Texchem as a partner to capitalise on these vast opportunities together. More importantly, we are committed to utilising our collective expertise and resources to deliver groundbreaking regenerative solutions that will positively impact patient outcomes and advance the field of regenerative medicine in Malaysia and beyond.”
Texchem Resources group executive chairman Tan Sri 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, which has its headquarters in Penang, and CellSource plan to establish a joint venture in Malaysia by end of the year.
