NICHOLASVILLE, Ky., March 23, 2011 /PRNewswire/ -- Faced with the next generation of animal stem cell technology that enables consumers to treat their animals at almost half the cost with MediVet-America's advanced stem cell therapy, Vet-Stem, Inc. has taken to misleading statements that muddy the waters, according to MediVet-America CEO Jeremy Delk. Vet-Stem, in a cleverly worded news release entitled "Confirmation of Vet-Stem Exclusive Rights to Veterinary Use of Adipose Stem Cells," has created confusion as to what this means for veterinarians wanting to practice best medicine and utilize the latest technologies available.
The March 16, 2011 release implies a recent court victory favoring Vet-Stem. In fact, it is an excerpt from an article pertaining to a court case from June 19, 2008, concerning a ruling on a dispute between a group of researchers and universities regarding ownership of a patent filed nearly a decade ago, Delk said. This portfolio is not currently in dispute by any relevant parties, including the publicly-listed company Cytori that lost the case.
The news release states that, "Artecel, Inc., is the human stem cell company that holds all of the rights to this patent portfolio" (referring to Patent 231 and the rest of portfolio). This excerpt refers to these specific patents only, according to Delk. This essentially is a dispute between a few universities and researchers, not over the use of all stem cells as implied in the title of the release. Vet-Stem makes the ambiguous claim that no other company can use adipose derived stem cells, including Cytori, as well as the hundreds of other companies operating in the U.S. and abroad.
"MediVet America's mission is to develop the best technologies and procedures, allowing veterinarians to practice best medicine. Confusing consumers by using carefully-crafted news releases in an attempt to hold onto market share is unfortunate but expected," said Delk. "MediVet-America will continue to provide the latest advancements in stem cell technologies using its own intellectual property in order to help millions of animals suffering in pain from osteoarthritis and hip dysplasia."
A research and development firm as well as global leader in veterinary stem cell technology, MediVet provides innovative cell technology applications for the therapeutic care of animals. Headquartered in Nicholasville, Kentucky, MediVet-America develops advanced cellular kits and services for the treatment of Osteoarthritis and Degenerative Joint Disease.
CONTACT: Jeremy Delk