Recently, the CEO of International Stem Cell Corp., Andrey Semechkin, PhD, issued a shareholder letter discussing some of the key developments that have occurred in the company, and providing a window on future plans and anticipated events. ISCO is a California based biotechnology company with a powerful new stem cell technology called parthenogenesis, which promises to deliver stem cells that address the critical problem of immune-rejection.
In addition to talking about certain management adjustments, the letter discusses a number of operational changes designed to improve efficiency and target the company’s resources to the most productive ends.
The company has moved its accounting department from Maryland to California, site of the company’s headquarters, allowing them to streamline various accounting processes. The company has also implemented the necessary controls and processes for compliance with SOX (Sarbanes–Oxley Act of 2002), the federal law that sets new or enhanced standards for all U.S. public company boards.
The letter goes on to say that the company has made significant progress in perfecting differentiation technology for their three main areas of focus: Parkinson’s disease, endoderm, and cornea programs, with their scientific team developing new methods to derive high-purity populations of cell types important for the therapeutic use of ISCO’s parthenogenetic stem cells.
The company’s one-of-a-kind stem cell bank currently contains ten parthenogenetic stem cell lines which were originally derived in Moscow, Russia. These lines are capable of immune-matching approximately 70 million people worldwide. Such banking is important not only because the cells represent a source of cells for the company’s therapeutic programs, but also because licensing the cell lines may produce a revenue stream in the future.
ISCO’s Lifeline Skin Care brand of stem cell based skin rejuvenation applications continues to grow. The company has expanded to a multi-channel model with many strategic partners. Lifeline Skin Care will soon be launching new sales and marketing campaigns in magazines, online, and through direct mail. The company believes it can leverage their unique technology to become a leader in the premium branded skin care market.
Sales for Lifeline Cell Technology, an ISCO company that produces and markets specialized cells and growth media for therapeutic research worldwide, also continue to grow, with 2011 showing a 40% revenue increase over 2010.
The shareholder letter, in its entirety, can be found at the following link: www.InternationalStemCell.com/2012_Shareholder_Letter.
For additional information, visit the company’s website at www.InternationalStemCell.com
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