Stemlife arm acquires land for RM6.8m

Stemlife Bhd (SLB)'s unit, Stemlife Properties Sdn Bhd (SL Prop) has acquired a vacant land, located within the Bukit Jelutong township in Damansara, Selangor from Mestika Bistari Sdn Bhd for RM6.79 million.

In a filing to Bursa Malaysia today, SLB said the purchase of the land, about 59,078 sq feet in size, will be funded by proceeds from the company's Initial Public Offering and internally generated funds.

The acquisition will enable the group, which is in the business of stem cell banking and regenerative medicine, to expand its laboratory facilities, it added.

By Bernama