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Vitro Diagnostics, Inc. (OTCQB: VODG), dba Vitro Biopharma,
announced progress and achievement of key financial goals in the
transformation of the Company from a research operation to a profitable
commercial operation with sustained earnings growth. Income was recently
increased by $200,000 through license fees obtained by licensing our
fertility drug patents, products and technology. This infertility
treatment technology was developed previously and is no longer a primary
operational goal as the Company is now focused on commercialization of
stem cell products and technology. Thus, the recent license of this
intellectual property allows the Company to monetize previously
written-off assets through income from license fees and potential sales
royalties while also pursuing additional product revenues through sales
of its stem cell products.
Vitro’s stem cell products provide key tools needed to expand emerging
stem cell technology into viable clinical products to treat a vast array
of conditions resulting from cellular degeneration or injury, such as
heart disease, stroke and Alzheimer’s disease. The Company’s products
include cell culture media used to expand and differentiate stem cells
prior to transplantation and in research applications. This market alone
is estimated to be $1.2 billion in 2015 1. A leading global
stem cell company and prospective customer has recently reported
superior performance of one of the Company’s media products in an
extensive comparison with competing products. Sales of stem cell media
is a primary focus for accelerated revenue generation. Our distribution
and marketing plan currently targets select distributors together with
direct sales to key accounts representing substantial sales volume. We
are now in discussions and product evaluations with distributors and key
initial accounts. Numerous studies by the Company and other independent
groups have shown strong competitive advantages of the Company’s stem
cell media. We intend to leverage our highly competitive media products
into aggressive penetration of this emerging market. Management projects
achievement of profitable operations by the end of its current fiscal
year (10-31-11) or sooner.
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Article source: http://www.4-traders.com/news/VITRO-ANNOUNCES-PROGRESS-IN-THE-ACHIEVEMENT-OF-PROFITABILITY-Income-Increases-While-Debt-and-Expense–13616284/