BioStem Technologies announced Tuesday morning that it is acquiring the majority of Auxocell Laboratories’ assets.

BioStem is a company which utilizes perinatal tissue in the “development, manufacture, and commercialization of allografts for regenerative therapies.” For its part, Auxocell is a “leading solid tissue processing equipment manufacturer.” 

As part of the deal, BioStem will buy all of Auxocell’s rights, title and interest to all assets except for the AUX003 patent family, which will be licensed instead. BioStem is slated to acquire 45 domestic and foreign-isued patents, 11 domestic and foreign trademarks, as well as all of Auxocell’s equipment and inventory.

Terms of the deal were not immediately disclosed.

“The acquisition will enable us to expand our intellectual property portfolio, both domestic and foreign, in the perinatal tissue space and provide additional value to our clients and shareholders,” BioStem CEO Jason Matuszewski said in a statement. “The core technology will allow us to secure the manufacturing process to isolate cells from solid tissues without the use of enzymatic digestion. The addition of Auxocell’s assets will allow us to leverage their expertise and resources to enhance our manufacturing capabilities and accelerate our growth trajectory in the marketplace.”

Auxocell CEO Kyle Cetrulo said he was pleased to be joining BioStem, adding that he is eager to see how the company leverages the AC:Px technology, a single-use, sterile processing system, to “ advance the field of cellular and tissue therapy.”

AC:Px has a wide range of potential applications to develop regenerative medicine products, the company stated, including solid tissues such as the “umbilical, placenta, adipose and deceased donor organs where a match is unable to be located for an organ transplant.”

“BioStem has been a customer of Auxocell’s for many years and we are excited to pass this industry leading technology to them,” Cetrulo said in a statement. 

BioStem’s acquisition of Auxocell comes after a series of changes to its C-suite in the past few months.

Last month, the company named Michael Sylvester as VP of sales and Neal Bhattacharya as VP of marketing. In October, the company promoted Michael Fortunato, CPA as CFO.