International Stem Cell Corporation To Expand Its Revenue Generating Biomedical Businesses To Support Ongoing And Future Clinical Trials
Published: Sep 26, 2017
H1 2017 operating income from ISCO’s revenue generating subsidiaries demonstrated an increase of 51% compared to its income in H1 2016, while H1 2017 revenue was $3.8 million.
Edison Investment Research target price for ISCO shares is $6.62 per share*
CARLSBAD, Calif., Sept. 26, 2017 (GLOBE NEWSWIRE) -- International Stem Cell Corporation (OTCQB:ISCO) (www.internationalstemcell.com) ("ISCO" or "the Company"), a California-based clinical stage biotechnology company that develops novel stem cell-based therapies and biomedical products, announced today that ISCO’s wholly owned subsidiaries Lifeline Cell Technology (LCT) and Lifeline Skin Care (LSC) expanded their manufacturing operations, OEM business, and product lines.
“ISCO was one of the first stem cell biotech companies to build a business model in which revenue-generating subsidiaries operate under a parent R&D company. This not only decreases cash burn while conducting our Parkinson’s disease clinical trial, but gives us more confidence in ISCO’s future,” commented Russell Kern, PhD, Executive VP and Chief Scientific Officer of ISCO.
Lifeline Cell Technology LLC, a research products business which develops, manufactures, and commercializes human cell culture products, expanded and improved its media manufacturing operation by doubling the size of clean rooms, as well as the cell culture media production capacity. LCT has expanded its catalog by launching cardiac fibroblasts and skeletal muscle cell culture system, which includes differentiation media. Also, while working on bringing more international distributors, LCT expanded its domestic sales force together with OEM business. In their catalog, LCT currently has 60 different cell types and 115 media products, which is comprised of 34 kits for growing the different cell types, 24 different cell culture media, and 57 growth factors/cytokines.
Lifeline Skin Care Inc., a leader in stem cell skin care anti-aging solutions, expanded its marketing operations and sales force, and will be launching a new product in October 2017, Intense Moisture Serum, a high-tech serum that combines advanced stem cell technology with powerful concentrations of moisturizers. The current consumer products line features 16 products, while the professional line features 12.
“Backed by years of intensive research and development, Lifeline Skin Care has developed a unique and advanced skin care line using cutting-edge technologies that improves the skin's overall appearance. It is definitely one of my top 'Go To' skin care lines,” commented Dr. Paul E. Chasan, MD, FACS.
LSC's products are distributed worldwide through its company website (www.lifelineskincare.com) and domestically through a network of dermatologists, plastic surgeons, and spas, including The Woodhouse Day Spa®, a national luxury day spa franchise.
About International Stem Cell Corporation
International Stem Cell Corporation (ISCO) 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 human pluripotent 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 parthenogenetic, homozygous stem cell line that can be a source of therapeutic cells for 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, expected results clinical studies, progress of research and development initiatives, growth expectations 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.
* The research report is available on Edison’s website http://www.edisoninvestmentresearch.com/research/company/international-stem-cell
Please note that ISCO has paid Edison Investment Research to prepare the report.
International Stem Cell Corporation
Dr. Russell Kern
EVP, Chief Scientific Officer