10:57 AM EDT, 06/03/2024 (MT Newswires) -- Longeveron ( LGVN ) said Monday that it launched its contract development and manufacturing business, with its first contract signed with Secretome Therapeutics.

The company said its manufacturing services contract with Secretome will advance Secretome's portfolio of neonatal stem cell-based therapeutics. Financial details were not provided.

Once fully operational, the contract manufacturing business can potentially generate $4 million to $5 million in annual revenue, the company said.

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