6 March 2019 - - US-based biotechnology company Celltex Therapeutics Corp. has entered a memorandum of understanding with Saudi Arabia's Research Products Development Company (RPDC) to support the commercialization of Celltex's proprietary stem cell technology, the company said.

The MOU signifies a global relationship aimed toward improving the quality of life through the therapeutic application of adult mesenchymal stem cells and their derivatives.

As part of the agreement, Celltex and RPDC will work on the feasibility of opening a Celltex office in Riyadh, Saudi Arabia later this year.

Founded in 2011, Celltex is in the fast growing multi-bn-dollar market of regenerative medicine and stem cell therapeutic solutions.

As the premier provider of adult, autologous MSC technology in North America, Celltex can do what no one else can: isolate, cryopreserve and grow hundreds of millions of one's own genetically stable MSCs from a simple one-time adipose tissue extraction, in their FDA-compliant lab.

MSCs are prepared for therapeutic use to improve overall wellness and quality of life for those suffering from injuries, pain and maladies associated with autoimmune, vascular and other degenerative diseases.

The mission of the MOU is to spearhead the commercialisation of Celltex's innovative research and development activities to enable the technology innovation ecosystem in Saudi Arabia, as required by Saudi-based industries and global companies in The Kingdom.

This agreement is part of Saudi Arabia's National Industrial Development and Logistic Program (NILDP), which aims to transform The Kingdom's economic infrastructure through programs that will diversify the Saudi Arabian economy as it transitions away from an oil and gas-only focus.

In January 2019, various large US companies, including Celltex Therapeutics, were invited to Riyadh, Saudi Arabia to sign MOUs, representing bns of dollars of Saudi Arabian investments.

This event, attended by Saudi Arabia's Crown Prince Mohammed bin Salman, has made international headlines.

RPDC and top-ranking dignitaries from Saudi Arabia's world-class research, science and technology institutions convened at Celltex's Houston laboratory and office the week of February 4 to finalise and discuss details and decide on next steps.

Participants included Abdulmohsen Almajnouni, CEO, RPDC; Mazen Hassanain, MD, PhD, Managing director Healthcare and Life Sciences Division for RPDC; Jamil F. Al-Dandany, Media/Public Relations Advisor to the Minister at HE Eng. Khalid Alfaleh, Riyadh, KSA - Saudi Arabia Ministry of Energy, Industry and Mineral Resource; Mohannad Fallatah, PhD, Assistant Professor in cancer immunotherapy within the National Center for Stem Cells at King Abdulaziz City for Science and Technology (KACST); Sami Al-Garawi, MD, PhD, manager for In-Kingdom Collaboration for King Abdullah University of Science and Technology (KAUST); Ali Alhasan, PhD, Assistant Research Professor at King Abdulaziz City for Science and Technology (KACST) and Co-director of the KACST-BWH/Harvard Center of Excellence for Biomedicine; and Almohanad Alkayyal, Founder of VOIRX ltd.

Celltex uses proprietary technology that isolates, multiplies and banks autologous (one's own) adult mesenchymal stem cells, to be used in regenerative therapy for injuries and chronic pain, as well as many other conditions, including vascular, degenerative and autoimmune diseases.

Celltex is registered with the US Food and Drug Administration as an HCT/P establishment that multiplies human cells and cellular products.

The Houston-based biotechnology company operates in a state-of-the-art laboratory compliant with Current Good Manufacturing Practice standards as recommended by the FDA for the manufacturing of biological products.

Established in 2015, RPDC is a national resource for commercialization of innovative research and development activities, connecting the academic and industrial R and D centers to bring the power of its innovative research to be translated into breakthrough technology in alignment with the Saudi Vision 2030.