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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