Sep 14 2011
Today leading New Zealand biotechnology company Therapy Cell Ltd announced it was moving to the United States through its merger with Therapy Cells Inc (formerly DIII OTC Market). This exciting Bio Tech/Med tech Company holds the exclusive technology that allows adult cells from a specific tissue (e.g. Achilles tendon) to grow again from an individual to enact repair and regeneration of that tissue.
Renowned scientist Dr Patrick (Paddy) Casey, who shares his time between the University of Auckland and labs at UC Davis, has been appointed President and Chief Scientific Officer of Therapy Cells Inc. Dr Casey said “To our knowledge we are the only company in the World that has this proven technology, which is in a strong patent position and effectively by-passes the need for Stem Cell Treatment. We are very excited about entering the US market and pursuing FDA approval”.
An initial valuation of $30 million USD for this technology has been appraised currently. FDA approval for clinical use of this technology in the Human will likely increase this factor by at least 10 times.
The group headed by Dr Casey has very strong links to the San Francisco bay area. Therapy Cells has collaborated with and has laboratories at University of California, Davis. “The natural synergy and roll out is obvious” said President/CS Dr Paddy Casey.
Explaining that the safety and efficacy work of this transformational technology has been completed in the FDA approved model species for athletic injury (the horse is the recognized species for athletic injury in this case), Dr Casey explained that “We are anticipating FDA approval of our process within 12 to 18 months maximum”
The company can be reached at [email protected], or www.therapycells.com or Facebook page Therapy Cells.
These are exciting times indeed!
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