Adult Stem Cell Therapy Blog

Stem Cell Innovator TheraVitae Establishes Subsidiary in North America

Monday, July 10, 2006 - Stem Cell Guru

These are exciting times for TheraVitae, after successfully treating over 130 patients using VesCell™ adult stem cell therapy in Bangkok, Thailand. TheraViatae has completed a North American license agreement with TheraVitae Inc.

The Press Release is below:

Stem Cell Innovator TheraVitae Establishes Subsidiary in North America

July 10, 2006 -- TheraVitae, an international biotechnology company, the producer of VesCell™ a cellular therapy for heart disease and developer of additional adult stem cell technologies for incurable disorders completed a North American license agreement with TheraVitae Inc., which establishes TheraVitae Inc. as an exclusive licensee of North America.

The license agreement provides TheraVitae Inc. with an exclusive license to all stem cell therapies and intellectual property (current and future) produced by the Licensor during the term of the agreement. The Company will start clinical development of the lead product VesCell™ and will continue to develop additional products for cardiovascular and other severe disorders. Established in Toronto, Canada TheraVitae Inc. plans to submit regulatory requests to Health Canada and the FDA for a clinical trial of its therapy for congestive heart failure.

TheraVitae is one of the world’s leading stem cell therapy companies focused on using the patient's own (autologous) adult stem cells to treat a variety of disorders, especially cardiovascular diseases. Nominated by the World Economic Forum as a Technology Pioneer for 2006, the company has conducted a clinical trial in Bangkok, Thailand that led to the approval of its first therapy, VesCell™ as a treatment for “no option” heart patients. Over 130 patients suffering from very severe angina pectoris or heart failure have been successfully treated with VesCell™ by either administration of the cells through the heart arteries, or by direct injection into the heart muscle.

TheraVitae Inc. will develop and commercialize TheraVitae’s adult stem cell technologies in North America under exclusive license; closes $3,000,000 Private Placement.

On April 12, 2006, the company announced the enrolment of its first patient in a clinical trial to study the safety and efficacy of the administration of autologous adult stem cells to patients suffering from severe Peripheral Artery Disease (PAD), a deficiency of blood supply to the lower limbs.

Dr. Valentin Fulga, CEO of TheraVitae Group and Chairman and President of TheraVitae Inc. said: “We are now in a position to launch operations in North America and initiate rigorous efforts that will hopefully lead to regulatory approvals of our products in North America. We plan to work together with the most experienced physicians and surgeons in North America and to prove the safety and efficacy of our technologies. We are ready to engage in intensive activities to bring our therapies to the millions of suffering patients that can potentially be helped with our treatments.”


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