PharmaCyte Biotech Invests $5M in Femasys

PharmaCyte Biotech, Inc. has announced a $5 million strategic investment in Femasys, Inc., a premier biomedical firm focused on solving large unmet needs in women's health throughout the world. This is PharmaCyte's first foray into outside produced technology, which aligns with the company's business aim of increasing shareholder value.

Femasys has a comprehensive portfolio of accessible in-office solutions, including a late-stage product candidate and novel therapeutic and diagnostic devices. As part of the deal, Josh Silverman, temporary CEO of PharmaCyte, will join the Femasys Board of Directors.

Mr. Silverman highlighted PharmaCyte's strategy expansion, saying, "The stake we have taken in Femasys is the beginning of an expansion of our corporate strategy that seeks to identify opportunities outside of our own drug development activities where we can create value both through cash investment and our own expertise."

With technologies like FemBloc®, a non-surgical, in-office, permanent birth control approach in late-stage clinical development, Femasys is at the forefront of women's health innovation. The agreement will aid Femasys in the active commercialization and development of its reproductive solutions.

The cooperation was welcomed by Kathy Lee-Sepsick, Founder and CEO of Femasys, who stated, "This collaboration with PharmaCyte will support the active commercialization and continued development of our novel reproductive solutions."

PharmaCyte is well-known for their Cell-in-a-Box® live-cell encapsulation technique, which is being tested for possible cellular therapeutics in cancer, diabetes, and malignant ascites. This strategic transaction broadens PharmaCyte's portfolio by leveraging the company's considerable cash position of about $74.6 million as of July 31, 2023.