Qomel OKs SAR 5.2M investment in US Kure Cells

Qomel Co.’s board of directors approved nearly $1.38 million worth of an investment in Kure Cells, to be funded from its own internal resources

Qomel Co.’s board of directors approved, on Oct. 12, an investment of nearly SAR 5.2 million ($1.38 million) in Kure Cells, a US-based company specializing in biotechnology, cell therapies, and regenerative medicine, according to a statement to Tadawul.

The share price stands at $94, with an estimated post-closing ownership of about 1.3%, representing a non-controlling stake. The investment will be financed from Qomel’s internal resources.

The company said the investment aligns with its strategy to invest in the development of advanced therapeutic products and technologies that have strong market potential and growing demand.

Qomel expects no immediate material impact from the investment, while any future impact—if any—will depend on the target company’s performance and the progress of Qomel’s investment. The company will disclose any material developments as they arise.

There are no related parties involved in this investment, the statement added.

Kure Cells, incorporated under Delaware law following a re-incorporation, is a leading biotechnology firm focused on developing cell-based therapy technologies within regenerative medicine, particularly in rapid-manufacturing platforms for CAR-T therapies and research-stage oncology programs.