Healthcare Industry News: Medivation
News Release - December 7, 2010
Medistem Announces New Management TeamInternationally Renowned Drug Developers Join Adult Stem Cell Company
SAN DIEGO, CA., Dec 7 --(Healthcare Sales & Marketing Network) - Medistem Inc. (Pinksheets:MEDS ) announced today the appointment of Dr. Vladimir Bogin as President and Chairman of the Board, Dr. Sergey Sablin as Vice President and Board Member, and Vladimir Zaharchook as Vice Chairman of the Board and Board Member. These changes were brought about as the result of a stock purchase agreement changing majority ownership of the company.
Medistem was founded in 2005 by Dr. Riordan as a developer, licensor, and licensee of adult stem cell therapeutics. To date technologies developed by Medistem have been used in more than 900 patients internationally. Currently Medistem, together with the Indiana company General Biotechnology, is nearing completion of additional experiments requested by FDA to allow for clinical trial initiation as part of its filed IND BB-13898 covering the use of Medistem's "Endometrial Regenerative Cell" (ERC) product in patients at risk of amputation.
ERC are a novel stem cell population isolated from menstrual blood that the company has demonstrated is capable of generating heart, brain, lung, liver, pancreatic, bone, muscle, blood vessel and cartilage tissue. Advantages of ERC include: a) lack of need for donor matching, allowing for "off the shelf" use; b) ability to be injected intravenously; and c) economical production in large scale.
"Dr. Riordan has pioneered the development of practical stem cell based products for treatments of debilitating conditions ranging from Multiple Sclerosis, to Duchenne Muscular Dystrophy, to Heart Failure. The intellectual property portfolio for these products, which are the basis of Medistem's US-based developmental efforts, provide a deep pipeline of therapeutic candidates," said Dr. Bogin.
"In contrast to companies who perform research for the sake of research, Medistem's technologies are actually benefitting patients today, unfortunately only outside of the US. I was attracted to Medistem's desire to make these treatments available to patients through the tried and tested FDA regulatory route," said Mr. Zaharchook.
"The fact that Medistem's ERC cells can be shipped to any facility in the US and administered without need for complex cell processing or injection procedures makes this stem cell product very attractive from a commercialization perspective," said Dr. Sablin.
About Medistem Inc.
Medistem Inc. is a biotechnology company developing technologies related to adult stem cell extraction, manipulation, and use for treating inflammatory and degenerative diseases. The company's lead product, the endometrial regenerative cell (ERC), is a "universal donor" stem cell being developed for critical limb ischemia. A publication describing the support for use of ERC for this condition may be found at http://www.translational-medicine.com/content/pdf/1479-5876-6-45.pdf.
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