Healthcare Industry News: peripheral artery disease
News Release - April 13, 2010
Entest Biomedical Announces Intent to Acquire MedistemAcquisition of Clinical Stage Biotechnology Company Would Expand Pipeline
SAN DIEGO, CA--(HSMN NewsFeed) - Entest BioMedical, Inc. (OTC.BB:ENTB ) announced that a Letter of Intent (LOI) has been executed regarding the acquisition of approximately 61% of Medistem Inc. Medistem Inc., founded in 2005, is a U.S. based biotechnology company focused on the development and commercialization of adult stem cell-based technologies used in the treatment of inflammatory and degenerative diseases.
Medistem has a portfolio of products in various stages of development covered by 15 families of patent applications and has filed an Investigational New Drug (IND) Application with the FDA for use of its Endometrial Regenerative Cells for the treatment of critical limb ischemia, a form of peripheral artery disease. Approximately 150,000 amputations in the US per year are performed as a result of the effects of critical limb ischemia. The principal investigator of the proposed clinical trial is Dr. Michael Murphy from Indiana University, a Harvard trained physician who was the first to use adult stem cells for treatment of critical limb ischemia.
The Endometrial Regenerative Cell (ERC) is a "universal donor" stem cell that possesses the ability to differentiate into nine tissue types, produce large quantities of growth factors, and a large proliferative capacity. ERCs can be easily administered at a physician's office without need for invasive procedures. In addition to the ERC product, Medistem's technologies include treatments for autism, heart failure, diabetes, erectile dysfunction, and multiple sclerosis. Some of these technologies have already been successfully administered to patients by Medistem licensees.
"Medistem is the only company I know that has taken a stem cell from discovery to clinic in less than 3 years," said David Koos, Chairman & CEO of Entest. "Medistem won the Publication of the Year Award for 2007 from BioMed Central, a publisher of over 200 peer reviewed journals, for their discovery of the ERC. To date, Medistem has already published on human use of these cells for Multiple Sclerosis and Duchenne Muscular Dystrophy."
"The Entest team has been very prolific in developing novel non-invasive methods of increasing stem cell efficacy," said Thomas Ichim, CEO of Medistem. "We are confident that the proposed acquisition will lead to corporate and scientific synergies."
The proposed acquisition contemplated by the LOI is subject to the parties entering into a definitive agreement and the satisfaction of the terms and conditions of that agreement.
About Entest BioMedical Inc.:
Entest BioMedical Inc. (OTC.BB:ENTB ) is involved with the development of stem cell therapy treatments for Chronic Obstructive Pulmonary Disease (COPD), immuno-cancer therapies, testing procedures for diabetes, stem cell research applications for diabetes and other illnesses. The Company also is involved with medical device development (including stem cell extraction instrumentation). ENT-576™ is a proprietary laser device currently under development by Entest. The Company has filed 4 patent applications relating to the treatment of COPD. Entest BioMedical Inc. is a majority owned subsidiary of Bio-Matrix Scientific Group Inc. (OTC.BB:BMSN ). Recently Entest announced publication of its platform technology in the peer-reviewed Journal of Translational Medicine which is available at http://www.translational-medicine.com/content/8/1/16. For additional information on Entest, go to the Company's website: www.entestbio.com or its blog site: www.entestbioblog.com.
Disclaimer This news release may contain forward-looking statements. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Source: Entest BioMedical
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