KUALA LUMPUR (May 11): Genting Bhd’s biotechnology arm Celularity Inc said US-listed software company Palantir Technologies Inc will make an investment in Celularity under the planned Celularity-Palantir multi-year strategic partnership to leverage the unique combined strengths of Palantir’s Foundry platform with Celularity’s deep dataset to accelerate and advance cellular therapies.

As part of the partnership, Palantir will make an investment in Celularity that will close immediately following Celularity’s planned business combination with US-listed GX Acquisition Corp, a special purpose acquisition corporation, according to Celularity.

"Palantir’s investment, together with the previously announced PIPE (private investment in public equity) investment being made in conjunction with the GX-Celularity business combination, will bring over US$100 million (about RM412 million) in new funding to Celularity upon closing of the business combination,” Celularity said in a statement on Wednesday (May 5).

Celularity did not specify how much money Palantir plans to invest in Celularity.

Celularity said it will use Palantir Foundry, a platform that leverages artificial intelligence and allows for the integration of siloed data sources into a common operating picture, leading to better data-driven decision making. 

"Celularity will employ Palantir’s Foundry platform to secure deeper insights into data obtained from Celularity’s discovery and process development as well as manufacturing and biorepository operations,” Celularity said.

Celularity was formed in February 2018 with US$250 million funding from several investors comprising Genting Group, Celgene, United Therapeutics, Sorrento Therapeutics, Human Longevity Inc, the Dreyfus Family Office, Section 32 and Heritage Group, according to Celularity’s statement on Feb 15, 2018.

Celularity’s statement, however, did not specify the amount Genting Group had invested in the biotechnology company.

Genting chairman and chief executive Tan Sri Lim Kok Thay is a director in Celularity, according to Celularity’s website.

At Bursa Malaysia’s 12:30pm break today, Genting's share price settled down seven sen or 1.43% at RM4.82, which values the company at about RM18.56 billion.

Genting has 3.85 billion issued shares, according to its latest annual report.