Vitro Biopharma Signs MOU with GIOSTAR for COVID-19 IND Using AlloRx Stem Cells
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Vitro Biopharma Signs MOU with GIOSTAR for COVID-19 IND Using AlloRx Stem Cells

Tuesday, June 2, 2020 1:10 PM
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GOLDEN, CO / ACCESSWIRE / June 2, 2020 / Vitro Diagnostics, Inc. (OTC PINK:VODG), dba Vitro entered into an exclusive Memorandum of Understanding (MOU) with Global Institute of Stem Cell Therapy and Research, Inc. ("GIOSTAR") a leading stem cell research institute based in San Diego, California to jointly partner together for a COVID-19 Investigational New Drug ("IND") to the FDA using Vitro Biopharma's umbilical cord mesenchymal stem cell product AlloRx Stem Cells™ in a clinical trial to treat Covid-19 patients.

GIOSTAR is the worldwide leader in the in the field of stem cell research has its stem cell research and treatment facilities around the world. GIOSTAR is leading the way for filling the IND application for the Covid-19 with US FDA while Vitro will provide its AlloRx Stem Cells™ for use in the study. Giostar has already obtained the expedited compassionate use authorization from the FDA for using stem cell treatment for severe Covid-19 hospitalized patients using AlloRx Sem Cells®. Vitro will continue to seek FDA authorization of its pending IND.

The MOU is an exclusive joint collaboration for use of AlloRx Stem Cells® in GIOSTAR's clinical trial and ultimately the exclusive use of AlloRx Stem Cells® for the treatment of Covid-19 upon pre-market approval by the FDA as a drug treatment for Covid-19.

GIOSTAR in collaboration with government of Gujarat, India is building one of the world's largest stem cell hospital. This is a dream project of India's Prime Minister Narendra Modi. The MOU stated the intended discussions regarding use of AlloRx Stem Cells® at GIOSTAR's various international stem cell facilities that would provide quality and economic advantages.

Vitro is a leader in the manufacturing of umbilical cord mesenchymal stem cells adhering to the highest levels of the International Stem Cell Therapies standards ("ISCT"). Vitro is an ISO 9001 and ISO13485-certified, CLIA-certified and cGMP compliant manufacturer.

Dr Jim Musick CEO/CSO said, "Our evolving partnership with GIOSTAR is a significant development in our strategic initiative to gain a presence in international medical tourism stem cell clinics while at the same time expanding presence in the US markets. AlloRx Stem Cells® continue to gain recognition as superior stem cell therapies through our Cayman Island partner DVC Stem. We are also pleased to be recognized by GIOSTAR as a premier provider of AlloRx Stem Cells® for use in treatment of COVID-19 and other therapies as well."

About Vitro Biopharma:

Vitro Biopharma, for over 10 years, has supplied major biopharmaceutical firms, elite university laboratories and clinical trials worldwide with Mesenchymal Stem Cells, MSC-Grow™ Brand of cell culture media, various stem cell derivatives and stem cell-derived differentiated cells. We also supply primary fibroblast cells and an expanding line of cancer-associated fibroblasts (CAFs) from various tumors including lung, breast, melanoma, pancreatic and colorectal tissues. Our CAFs are purchased by major pharmaceutical and biopharmaceutical firms to advance immunotherapy of cancer.

Out of years of research, we developed our patent-pending and proprietary line of umbilical cord derived stem cells AlloRx Stem Cells® now being used in international regenerative medicine clinical trials. Our stem cells are used in regenerative medicine clinical trials with our partner in the Cayman Islands We have a recently approved clinical trial using our AlloRx Stem Cells® to treat musculoskeletal conditions at The Medical Pavilion of the Bahamas in Nassau.

Vitro Biopharma has a proprietary and scalable manufacturing platform to provide stem cell therapies to critically ill Coronavirus patients and other conditions including multiple sclerosis, OA, Chrohn's disease and numerous medical conditions that are under-treated by the current standard of care. Our cGMP manufacturing is ISO9001, ISO13485 certified and we are FDA registered. Our stem cells have been shown to be safe and effective in international Phase I clinical trials. About


GIOSTAR is the pioneer and established leader in the field of stem cell research. Under the leadership of Co-Founders Dr. Anand Srivastava and Deven Patel, the San Diego-based Institute has a tradition of groundbreaking research in stem cell science spanning more than two decades.

Media contact:

Deven Patel
[email protected]

Vitro Biopharma contact:

Dr. James Musick
Chief Executive Officer
Vitro Biopharma
(303) 550-2778
E-mail: [email protected]

Forward-Looking Statements

Statements herein regarding financial performance have not yet been reported to the SEC nor reviewed by the Company's auditors. Certain statements contained herein and subsequent statements made by and on behalf of the Company, whether oral or written may contain "forward-looking statements". Such forward looking statements are identified by words such as "intends," "anticipates," "believes," "expects" and "hopes" and include, without limitation, statements regarding the Company's plan of business operations, product research and development activities, potential contractual arrangements, receipt of working capital, anticipated revenues and related expenditures. Factors that could cause actual results to differ materially include, among others, acceptability of the Company's products in the market place, general economic conditions, receipt of additional working capital, the overall state of the biotechnology industry and other factors set forth in the Company's filings with the Securities and Exchange Commission. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Vitro Diagnostics, Inc.

Vitro Diagnostics, Inc.
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