Before the opening
bell, Cryoport, Inc. (NASDAQ: CYRX), a premier provider of cryogenic logistics
solutions to the life sciences industry, announced a strategic partnership with
International Stem Cell Corp. (OTCQB: ISCO) through which it will provide global
logistics support to ISCO for its impending phase I clinical trial. ISCO
received authorization to begin a phase I/IIa clinical trial of its human
parthenogenetic stem cell-derived neural stem cells (ISC-hpNSC) in patients
with moderate to severe Parkinson’s disease from the Therapeutic Goods
Administration of Australia in December, and the company commenced patient
enrollment for the study earlier this year.
As the premier
cryogenic logistics provider, Cryoport will leverage two of its strategically
located depots, including locations in southern California and Singapore, to
safely move ISCO’s high-value biologic material from its research facility in
California to the study site in Australia. Cryoport’s proven track record in
the logistics space, particularly as it relates to clinical trials and
commercialization programs, makes it an ideal option for ISCO moving forward.
“This trial will
take place across the globe and it is imperative that our cell therapy
maintains integrity,” Russell Kern, PhD, executive vice president and chief
scientific officer of ISCO, stated in a news release. “We are pleased to have
Cryoport handle our global logistics requirements.”
Through its
partnership with Cryoport, ISCO moves one step closer to the commencement of its
highly-anticipated clinical trial. In December, the company signed a clinical
service agreement with the Florey Institute of Neuroscience and Mental Health,
one of the world’s leading brain research centers. In March, ISCO entered into
definitive agreements with two institutional healthcare investors and
management for the private placement of $6.3 million of the company’s
convertible preferred stock, adding capital that’s expected to drive its phase
I study in the months to come.
As its scientists
continue to evaluate additional therapeutic indications for its innovative stem
cell technology platform, ISCO is primed to rapidly expand its presence in the
biotechnology space. Leveraging partnerships with Cryoport and the Florey
Institute of Neuroscience and Mental Health, the company will look to build on
its current momentum while working toward the release of preliminary safety and
efficacy clinical data from its upcoming study by the end of the year.
For more
information, visit www.internationalstemcell.com
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