Before the opening bell, International Stem Cell Corporation
(OTCQB: ISCO) provided a business update and announced its fourth quarter and
year-end financial results for the period ended December 31, 2015. Through
wholly-owned subsidiaries Lifeline Skin Care and Lifeline Cell Technology, the
company increased its operating income by 65 percent to $1.67 million during
2015, as compared to $1.01 million in 2014. This increase, which also included
an eight percent rise in total revenues, was attributed to a 15 percent spike
in sales through Lifeline Cell Technology. Lifeline Cell Technology is expected
to continue gaining momentum in the months to come following the recent launch
of its new nano-compound products, which have been shown to induce the
production of elastin and collagen without the toxic characteristics of
retinoic acid.
This strong financial performance set the stage for ISCO’s
progress toward the development of its innovative human parthenogenetic stem
cells-derived neural stem cells, as described by its CEO and co-chairman,
Andrey Semechkin, PhD.
“2015 was a milestone year for ISCO,” he stated in the news
release. “We made significant progress in our corporate priorities and received
authorization by the Therapeutics Goods Administration in Australia to initiate
a Phase I dose escalation clinical trial of human parthenogenetic stem
cells-derived neural stem cells (ISC-hpNSC®) in patients with moderate to
severe Parkinson’s disease (PD). In addition to Parkinson’s, our scientists are
currently evaluating other therapeutic indications based on our stem cell
technology platform.”
After receiving approval to begin clinical trials of
ISC-hpNSC for the treatment of Parkinson’s in Australia, ISCO entered into a
master clinical research agreement with the Florey Institute of Neuroscience
and Mental Health, one of the world’s leading brain research centers, covering
a phase I clinical study. With this arrangement in place, the company commenced
enrollment for its clinical trial in early March, and it expects to provide
interim results from the study as early as October 2016.
ISCO will look to build on its recent progress moving
forward in 2016. In addition to completing dosing in its phase I clinical study
and reporting preliminary efficacy and safety clinical trial results, the
company aims to report on the results of animal studies examining the efficacy
of ISC-hpNSC as a treatment for stroke, as well as animal study results of a
novel therapy using a patient’s own cells to combat osteoarthritis.
For more information, visit www.internationalstemcell.com
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