Star Technologies will acquire stem cell technologies from stem cell pioneer Cognex.
The deal is expected to close in the first quarter of 2018, the companies said.
The deal, which will be subject to regulatory approval, is expected for completion by the end of 2018.
It will be the first technology purchase by a U.S. company to a European firm, Cogex said in a statement.
“Cognex is an innovative company, one that has proven to be a leader in stem cell research, manufacturing and deployment,” said Chris Gresham, chairman and CEO of Star, in a release.
“Star’s products are designed to address the growing demand for stem cell products in the healthcare and pharmaceutical industries.”
Star’s stem cell product lines include devices and systems for the treatment of pain and inflammation, heart disease, cancer and other serious conditions, as well as the development of new therapeutics.
The company also makes stem cell vaccines and a regenerative medicine system that helps regenerate damaged tissues and organs.
Star’s devices include a new stem cell printer and an LED bulb that are compatible with a wide variety of devices.
Star also announced last month that it had signed a contract to acquire stem cells and other related technology from stem-cell pioneer COGEX.
Cogex has been working to commercialize its stem cell manufacturing technology for over five years.
Last year, the company announced plans to spend $4 billion to develop a commercial product line of stem cell-based devices.
The companies plan to launch a series of products with stem cell capabilities and components by the second half of the year.
The CogEx acquisition will also add Star’s technology portfolio to CogEX’s existing portfolio of stem cells technology.
Cogox, a stem cell maker that was founded in 2010 and currently has an annual production capacity of more than 8 million cells, is the leading U.K. company in stem cells production and sales.
Cigarette maker Philip Morris is also looking to invest in stem-cannabidiol, or CBD, a cannabinoid-derived ingredient in smokeless tobacco.
Cigs and vaping are big growth markets, with more than 4 million people using vaping devices in the U.A.E., according to a recent study by the UAB Group.