CARLSBAD, CA--(Marketwired - July 16, 2014) - International Stem Cell Corporation (OTCQB: ISCO) (www.internationalstemcell.com) ("ISCO" or "the Company"), a California-based biotechnology company focused on therapeutic and research products, today announced that its subsidiary, Lifeline Cell Technology, has expanded its sales network by adding a number of new distributors in Asia and Oceania.
"Expanding our footprint in the fast-growing Asian marketplace has been a key strategic goal for the Company," said Simon Craw, PhD, ISCO's Executive Vice President of Business Development. "We already have several excellent distributors in Asia, and the in-house expertise and experience to make these new accounts successful. With these new distributors we have increased the number of countries where scientists can purchase our high-quality cell culture products."
Lifeline Cell Technology (LCT) has expanded its overseas network by adding new distributors in several fast-growing territories including Korea, Taiwan, Australia, New Zealand and India. LCT develops, manufactures and commercializes over 130 human cell culture products. These products include frozen human adult or primary cells, adult stem cells and the reagents (called media) needed to grow, maintain and differentiate such cells. These human cell-based products are used by research scientists in pharmaceutical, academic and government research organizations to study human diseases and basic cell biology. LCT's products provide value and quality by eliminating the need for scientists to source their own cells or develop their own media. Strict quality assurance ensures a high level of consistency and standardization, which along with a high level of customer service, makes LCT's products the first choice for many scientists.
Lifeline Cell Technology is an important part of ISCO's business model. As the commercially focused human cell subsidiary of ISCO, with a large catalog of existing products for sale, LCT complements ISCO's R&D focus on developing novel stem cell-related therapeutic treatments for various unmet medical needs including Parkinson's disease. LCT's sales were $3.15 million for the previous four reported fiscal quarters (2Q 2013 through 1Q 2014), with 1Q 2014 sales having grown by 21% over 4Q 2013. We believe that increasing the international availability of LCT's products will support continued sales growth.
About International Stem Cell Corporation
International Stem Cell Corporation is focused on the therapeutic applications of human parthenogenetic stem cells (hpSCs) 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) hence avoiding ethical issues associated with the use or destruction of viable human embryos. ISCO scientists have created the first parthenogenetic, homozygous stem cell line that can be a source of therapeutic cells for hundreds of millions of individuals of differing genders, ages and racial background with minimal immune rejection after transplantation. hpSCs offer 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 (www.lifelinecelltech.com), and stem cell-based skin care products through its subsidiary Lifeline Skin Care (www.lifelineskincare.com). More information is available at www.internationalstemcell.com.
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Statements pertaining to anticipated developments, the potential benefits of research programs, expectations of LCT sales growth, 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, 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.