Before the opening bell, Cryoport, Inc. (NASDAQ: CYRX), a
premier provider of cryogenic logistics solutions to the life sciences
industry, announced a strategic partnership with International Stem Cell Corp.
(OTCQB: ISCO) through which it will provide global logistics support to ISCO
for its impending phase I clinical trial. ISCO received authorization to begin
a phase I/IIa clinical trial of its human parthenogenetic stem cell-derived
neural stem cells (ISC-hpNSC) in patients with moderate to severe Parkinson’s
disease from the Therapeutic Goods Administration of Australia in December, and
the company commenced patient enrollment for the study earlier this year.
As the premier cryogenic logistics provider, Cryoport will
leverage two of its strategically located depots, including locations in
southern California and Singapore, to safely move ISCO’s high-value biologic
material from its research facility in California to the study site in
Australia. Cryoport’s proven track record in the logistics space, particularly
as it relates to clinical trials and commercialization programs, makes it an
ideal option for ISCO moving forward.
“This trial will take place across the globe and it is
imperative that our cell therapy maintains integrity,” Russell Kern, PhD, executive
vice president and chief scientific officer of ISCO, stated in a news release.
“We are pleased to have Cryoport handle our global logistics requirements.”
Through its partnership with Cryoport, ISCO moves one step
closer to the commencement of its highly-anticipated clinical trial. In
December, the company signed a clinical service agreement with the Florey
Institute of Neuroscience and Mental Health, one of the world’s leading brain
research centers. In March, ISCO entered into definitive agreements with two
institutional healthcare investors and management for the private placement of
$6.3 million of the company’s convertible preferred stock, adding capital
that’s expected to drive its phase I study in the months to come.
As its scientists continue to evaluate additional
therapeutic indications for its innovative stem cell technology platform, ISCO
is primed to rapidly expand its presence in the biotechnology space. Leveraging
partnerships with Cryoport and the Florey Institute of Neuroscience and Mental
Health, the company will look to build on its current momentum while working
toward the release of preliminary safety and efficacy clinical data from its
upcoming study by the end of the year.
For more information, visit www.internationalstemcell.com
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