Bioheart is focused on the discovery, development and, subject to regulatory approval, commercialization of autologous cell therapies for the treatment of degenerative diseases.
Magnum’s facilities include a clinic and laboratory located in Honduras.
Bioheart chief science officer Kristin Comella said, "The facilities are top-notch and we are hopeful that Bioheart therapies can help many patients."
Under the deal, Bioheart will offer necessary training and expertise to transfer its therapies to Magnum.
Both the firms will work closely with the Honduran Ministry of Health to make Bioheart protocols part of the standard of care for patients in Honduras and neighboring countries.
The deal will see Bioheart assume 10% ownership of Magnum Cell Therapies.
Bioheart is dedicated to advancing the field of regenerative medicine by providing the highest quality technology, cellular treatments and training.