CyGenics takes 51% equity in an Australian cord blood banking business
This acquisition will allow CyGenics to migrate its successful business model to the Australian market, thereby strengthening the regional position of the company and supporting future revenue growth.
CyGenics will have majority board representation following its acquisition of 51% of BioCell, effected through a cash injection of $530,000. All funds will be retained by BioCell and will be used as working capital to accelerate growth in market awareness and revenue.
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