On May 18, 2017, PCT announced that Hitachi Chemical Co. America, Ltd. (Hitachi Chemical’s consolidated subsidiary) completed its purchase of the 80.1% remaining membership interest in PCT from Caladrius Biosciences. With this acquisition, PCT became 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 PCT’s services in the United States and add services in Japan, Europe and other regions.
As a part of Hitachi Chemical, 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. With the backing of Hitachi Chemical, PCT looks forward to establishing a global network of facilities for cell therapy development and manufacturing in which we will 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.
Hisashi Maruyama, CEO of Hitachi Chemical remarked, “The acquisition of PCT marks an important milestone in the expansion of Hitachi Chemical’s regenerative medicine-related businesses. 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.”