International Stem Cell Corp. is expanding its presence in
the emerging field of regenerative medicine through the development of its
novel stem cell-based therapies and biomedical products. In recent months, this
progress has translated into record-setting financial results, as the company
has continued to position itself as a major player in the biotechnology
industry.
“Stable increase in revenues from our biomedical businesses,
ability to generate net income as a parent company and progress in
demonstrating the safety and efficacy of our stem cells for the treatment of
Parkinson’s disease and stroke position us as a leader in [the] regenerative
medicine field,” Dr. Andrey Semechkin, chief executive officer and co-chairman
of ISCO, stated in a news release.
In the second quarter of 2015, ISCO realized a 14 percent
year-over-year increase in total revenue, recording $1.82 million. This growth
was primarily fueled by the performance of the company’s subsidiary, Lifeline
Skin Care, which recorded an 18 percent year-over-year increase in revenue for
the period. In addition to expanding upon the customer base of its existing
product lines, ISCO also completed the development and testing of two new
products to be sold under the trusted Lifeline Skin Care brand moving forward.
Lifeline Cell Technology, ISCO’s human cell manufacturing subsidiary, posted
similar financial growth for the quarter, recording an 11 percent
year-over-year increase in sales.
The company’s strong financial performance through its
subsidiaries helped fund its considerable progress toward the development of
its proprietary human parthenogenetic neural stem cells (hpNSCs). In
preclinical testing, ISCO demonstrated the capability of its cells to
significantly reduce neurological dysfunction following a stroke in animal
models. Following the publication of two proof of concept studies that
demonstrate the safety and efficacy of the company’s stem cell treatment
techniques in both non-human primate and rodent animal models, ISCO expects to
begin its Parkinson’s disease trials in the Australian market before the end of
this year.
“We look forward to receiving Australian TGA authorization
to start clinical trials,” continued Semechkin. “We expect to dose the first
Parkinson’s disease patients in this trial in Q4 2015.”
For prospective shareholders, ISCO’s ability to generate
revenue and maintain a strong cash position during clinical development
programs is a promising indication of the company’s long-term viability. Look
for ISCO to continue leaning on the established market presence of its
subsidiaries in order to fund the ongoing clinical development of its promising
Parkinson’s disease treatment program while simultaneously promoting
sustainable returns.
For more information, visit www.internationalstemcell.com
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