International Stem Cell Corporation (OTCBB:ISCO)
(www.intlstemcell.com),
the first company to perfect a method of creating human
"parthenogenetic" stem cells derived from unfertilized human eggs,
reports that its wholly owned subsidiary, Lifeline Cell Technology
(Lifeline), grew 2011 first quarter product sales by 35% and gained well
over 200 new customers compared with the prior year through new product
introductions and the development of worldwide distribution channels.
Lifeline also made significant progress in its strategy to expand its
product applications into manufacturing human tissues and cells for
clinical use. Lifeline Cell Technology develops, manufactures and
markets the Lifeline® brand of cell culture products used by
researchers to grow human cells for basic and pre-clinical research.
Lifeline also fulfills an important role in parent ISCO's long-term
strategy to be a leading developer and manufacturer of human cells and
human-cell-based products for clinical applications.
Lifeline's chief executive officer, Jeffrey Janus, stated, "Our product
sales growth was largely due to the development and launch of more than
30 new products in 2010, including products that allow researchers to
study human stem cells. Lifeline also opened new distribution channels
in Japan, India, Taiwan, South Korea and Singapore and has achieved
significant sales in those new markets. Importantly, we have also moved
closer to validating the feasibility of ISCO's strategic plan as our
proprietary FibroLife® media is being used to cultivate
tissue-engineered blood vessels for Cytograft
Tissue Engineering in Novato, California. Cytograft's vessels are
expected to be used as coronary grafts for coronary bypass procedures,
as peripheral grafts to prevent lower limb amputations and as living
tissue shunts for hemodialysis patients."
Cytograft's technology was recently featured at the American Heart
Association's conference of emerging technology and can be viewed on the
AHA's "Emerging Science Series Webinar" at scientificsessions.org/emergingscience.
Cytograft's chief executive officer, Todd McAllister, Ph.D., said,
"Cytograft's clinical programs are going forward in Phase III trials and
we are excited to be working with Lifeline as one of our key media
developers and suppliers as we transition to commercialization and as we
develop our next generation platform."
In anticipation of producing clinical grade products, Lifeline recently
moved into new laboratory facilities that are capable of cGMP level
manufacturing. Said Janus, "Lifeline Cell Technology provides ISCO the
capacity to develop and manufacture human cell-based products for
growing field of regenerative medicine, while at the same time
generating revenue in the research market. The Cytograft opportunity is
but one example of many potential clinical applications for Lifeline's
products."
About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic
applications of human parthenogenetic stem cells and the development and
commercialization of cell-based research and cosmetic products. ISCO's
core technology, parthenogenesis, results in the creation of pluripotent
human stem cells from unfertilized oocytes (eggs). hpSCs avoid ethical
issues associated with the use or destruction of viable human embryos.
ISCO scientists have created the first parthenogenic, homozygous stem
cell line that can be a source of therapeutic cells with minimal immune
rejection after transplantation into hundreds of millions of individuals
of differing genders, ages and racial background. This offers the
potential to create the first true stem cell bank, UniStemCell™. ISCO
also produces and markets specialized cells and growth media for
therapeutic research worldwide through its subsidiary Lifeline Cell
Technology, and cell-based skin care products through its subsidiary
Lifeline Skin Care. More information is available at www.internationalstemcell.com.
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Forward-looking Statements
Statements pertaining to anticipated developments, product development
and marketing plans, and other opportunities for the company and its
subsidiaries, along with other statements about the future expectations,
beliefs, goals, plans, or prospects expressed by management constitute
forward-looking statements. Any statements that are not historical fact
(including, but not limited to statements that contain words such as
"will," "believes," "plans," "anticipates," "expects," "estimates,")
should also be considered to be forward-looking statements.
Forward-looking statements involve risks and uncertainties, including,
without limitation, risks inherent in the development and/or
commercialization of potential products, competition, regulatory
approvals, need and ability to obtain future capital, application of
capital resources among competing uses, and maintenance of intellectual
property rights. Actual results may differ materially from the results
anticipated in these forward-looking statements and as such should be
evaluated together with the many uncertainties that affect the company's
business, particularly those mentioned in the cautionary statements
found in the company's Securities and Exchange Commission filings. The
company disclaims any intent or obligation to update forward-looking
statements.
International Stem Cell Corporation Jeffrey Janus President
and CEO, Lifeline Cell Technology 760-940-6383 jjanus@lifelinecelltech.com or: Lippert/Heilshorn
& Associates Don Markley 310-691-7100 dmarkley@lhai.com |