QHP Capital has announced it has acquired Applied StemCell.

Applied StemCell, founded in 2008 and based in Milpitas, Calif., develops gene editing and stem cell technology platforms designed to help advance broader cell therapy manufacturing.

QHP, based in Raleigh, N.C., is a private equity firm that pursues investments in lower middle market healthcare companies primarily in North America. The firm, which was formed when NovaQuest Capital Management spun off its private equity unit, targets tech-enabled companies in the life sciences and pharmaceutical services industries.

Terms of the acquisition were not disclosed.