CARLSBAD, Calif., May 14, 2018 (GLOBE NEWSWIRE) — International Stem Cell Corporation (OTCQB:ISCO) (“ISCO” or “the Company”), a California-based clinical stage biotechnology company developing novel stem cell-based therapies and biomedical products, announced today that it has been valued at $34 million, up from $33 million in January 2018, by Edison Investment Research (“Edison”)*, a world-renowned investment intelligence firm with more than one hundred analysts, investment experts, and roadshow professionals, with offices in North America, Europe, the Middle East and Asia.
The research report is available on Edison’s website and can be accessed here. The report features an analysis of ISCO’s financial data, along with an investment summary that showcases the Company’s cell therapy for Parkinson’s disease and traumatic brain injury as key industry differentiators.
The summary discusses the completion of ISCO’s dosing of its second cohort in its Phase I trial of ISC-hpNSC in Parkinson’s disease and its preparation to commence a Phase II trial in 2018. The open-label, single-center (at Royal Melbourne Hospital in Melbourne, Australia) is an uncontrolled clinical trial that evaluates three different dose regimens of 30m, 50m, and 70m cells. A total of 12 participants with moderate-to-severe Parkinson’s disease are to be enrolled. Patients are monitored to evaluate the safety and biologic activity of ISC-hpNSC for one year.
ISCO has also completed preclinical studies of ISC-hpNSC in traumatic brain injury and was preparing to commence a Phase II trial, which is also expected to launch later this year. Once Phase II data in TBI are in hand, Edison expects ISCO to apply to the FDA for the new Regenerative Medicine Advanced Therapy (RMAT) designation, which came into existence as part of the 21st Century Cures Act.
Edison claims that traumatic brain injury could be as meaningful to the Company as Parkinson’s disease, for which they are forecasting $2.8bn in peak sales.
And in addition to a significant reduction in cash burn, ISCO also reported revenues of $7.5 million, up 4.1% compared to 2016.
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). 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 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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*The Edison report was sponsored by the Company.
Safe harbor statement
Statements pertaining to anticipated developments, expected pre-clinical studies (including timing and results), progress of research and development, 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.
International Stem Cell Corporation
Dr. Russell Kern
EVP, Chief Scientific Officer