Ge plans to acquire biosafe group's plus code cell therapy business for us $1 billion

Source: Reuters 2016-07-15 General Electric Company (GE) plans to build a $1 billion business to provide important production tools for emerging cell therapy GE announced on Wednesday that it would buy biosafe group, a Swiss supplier of cell processing systems, at a price not disclosed Biosafe, founded in 1997, will bring 85 new employees and about 230 customers to Ge, doubling both the employees and sales of GE's cell therapy department John Flannery, head of GE's healthcare division, believes GE has made an important part of the cell therapy supply chain through the acquisition of biosafe "We want to further expand the business of life science, especially cell therapy," he said "This will more than double our existing capacity in the field of cell therapy, and we think it will be easy to reach more than $1 billion in the next decade," said John Flannery GE's healthcare business has reached $18 billion a year, and the company believes that using cells to fight cancer will be a huge high margin opportunity Ge speculates that there are 375 T-cell therapy projects under active promotion, and seven companies with a total market value of $17 billion focus on car-t therapy According to GE's internal research, assuming the average treatment cost per patient is about $250000, the sales volume of cell therapy will reach $10 billion by 2020 and $30 billion by 2030 Processing cells from individual patients is facing logistics challenges, which has prompted some scientists and companies to explore alternative ways to produce standardized therapies through donor cells Ge is also looking at this approach GE's move into cell therapy is in line with the company's established position in the field of biopharmaceutical bioprocessing Last year, all eight new antibody drugs approved in the United States used GE technology Recently, GE has made another progress in bioprocessing, producing biopharmaceutical plants by providing prefabricated modules The first batch of equipment was sent to China last year