Korea’s Green Cross Cell said on Friday it acquired an additional 68.8 percent stake in Japan’s cell therapy firm Lymphotec for 1.5 billion won ($1.38 million), raising its total ownership in the company to 83.3 percent.

As the largest shareholder of Lymphotec, Green Cross Cell aims to expand cell therapy business in Korea and Japan.

In Korea, Green Cross Cell sells Immuncell-LC, a medicine for anticancer cell immunotherapy made with T-lymphocyte incubated and activated after extraction from the blood of a patient.

Lymphotec was founded in 1999 by Dr. Teruaki Sekine, who had worked at National Cancer Center Japan. Lymphotec is involved in cell therapy production and related services after it received a license for manufacturing cellular products under the country’s law on safety in reproductive medicine in 2014.

Based on the stable sales growth of Immuncell-LC in Korea, Green Cross Cell said it will further focus on advancing into overseas markets.

By Shin Chan-ok and Minu Kim

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