The Board of Eco Quest Limited (ASX:ECQ), an environmental and life sciences technology business, is pleased to advise that, consistent with its strategy to diversify through acquisition, the Company has today entered into an agreement to acquire a further 18% of the issued capital of Cynata Incorporated (Cynata), a US company specialising in multi-purpose stem cell technology for regenerative medicine.
The Company has subscribed for 12,500,000 shares in Cynata Inc at US $0.04 per share. Cynata was established to commercialise an outstanding stem cell platform technology, originating from the University of Wisconsin-Madison (a world leader in stem cell research). The business plan of Cynata is to develop the technology into an “off-the- shelf” therapeutic stem cell platform to be used in therapeutic products.
The core technology being developed by Cynata revolves around the production of mesenchymoangioblasts (MCAs). MCAs are one of the earliest forms of mesenchymal cell, which go on to produce smooth muscle, bones, cartilage, blood vessels and other tissue types. Immediate opportunities present themselves in the form of treatments for circulatory disorders. The first application targeted for therapies prepared using MCAs is Critical Limb Ischaemia (CLI) a complication of diabetes. CLI represents a $3bn market. Further development will target other complications of diabetes, other indications involving a loss of circulation or damaged blood vessels and Graft vs Host disease. These conditions represent a market worth over $10bn.
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