American CryoStem Executes LOI with Advanced Regenerative Associates to Conduct Wound Healing Clinical Study
EATONTOWN, NJ / ACCESSWIRE / May 6, 2021 / American CryoStem Corporation (OTC PINK:CRYO) a clinical-stage biotechnology company, global licensor, and a pioneer in autologous cellular processing and therapies announced today, that it has signed a Letter of Intent (LOI) with Advanced Regenerative Associates, LLC ("ARA") of Tinton Falls, NJ for the development of a cell-based wound covering treatment for non-healing wounds, skin ulcers, and limb ischemia associated with type II diabetes, burns, and other systemic conditions.
Advanced Regenerative Associates, led by Dr. Michael J. DeMarco, is dedicated to developing a line of cellular therapy products and devices to treat and mitigate the effects of diabetic wounds and skin ulcers for patients not responding to current standards of care.
Dr. DeMarco stated, "We are taking a proactive approach to foster dermal regeneration. We are excited to take this next step to combine American CryoStem's ATCELL™ regenerative products with bioactive elements to promote neo-vascularization and tissue regeneration for patients in need. The time is now to advance this regenerative methodology in an attempt to alleviate both the suffering and impairment in this patient population. With over 30 years' experience treating patients with non-healing wounds, the current environment is right to utilize state-of-the-art regenerative biologic products."
The global diabetic foot ulcer treatment market size is estimated to reach USD 11.09 billion by 2026 owing to the increasing prevalence of diabetic foot ulcers among diabetic patients worldwide, according to a report published by Fortune Business Insights™ (Jan. 15, 2020). The World Health Organization (WHO) estimates 6.5 million individuals suffer from chronic skin ulcers caused by prolonged pressure, venous stasis, or diabetes mellitus.
John Arnone, CEO of American CryoStem stated, "Since we received FDA clearance to proceed with the Phase l clinical study for ATCELL™ for Post-concussion syndrome (PCS), we have been developing additional pipeline products focused on indications with large markets and high unmet clinical needs. We are pursuing several development projects where ultimately - a few percentage points of market penetration - could lead to substantial revenue opportunities for our Company and increased shareholder value for our stakeholders."
The Company recognizes the significant market opportunity to develop a wide range of cellular therapy treatments and products and is leveraging its "CryoStem Platform", centralized laboratory manufacturing methodologies, and delivery protocols to address diseases, disorders, and muscle-skeletal injuries with sizable multibillion dollar treatment markets.
About American CryoStem Corporation
American CryoStem Corporation (OTC PINK:CRYO), is a clinical-stage biotechnology company, global licensor and a pioneer in autologous cellular processing and therapies. The Company's centralized laboratory model and patented foundational "CryoStem Platform" is a best-in-class, end-to-end cellular therapy solution to treat injuries, disorders, and chronic diseases. Through a single adipose-tissue (fat) harvest and ATCELL Bank™ cryopreservation, the Company creates personalized adipose-derived mesenchymal stem cell therapies and delivers successive multiple treatments directly to the point-of-care. American CryoStem is dedicated to helping the world's physicians, hospitals, and clinics improve clinical outcomes by developing and delivering effective leading-edge stem cell therapies that improve patient health and quality of life. The Company operates an FDA registered cGMP compliant laboratory located in Monmouth Junction, New Jersey.
This press release may contain forward-looking statements, including information about management's view of American CryoStem Corporation's ("the Company") future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included in this press release are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by American CryoStem Corporation.
SOURCE: American CryoStem Corporation
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