Golden, CO / ACCESSWIRE / July 9, 2014 / Vitro Diagnostics, Inc. (OTCQB: VODG), dba Vitro Biopharma, is pleased to announce receipt of a prestigious award from Frost & Sullivan. The award is based on independent analysis of competing companies' commitment to innovation, commercial success, application diversity and fulfillment of unmet needs. Vitro Biopharma out-ranked competing firms in all areas evaluated.
Cecilia Van Cauwenberghe, industry analyst for Life Science/Biotech with Frost & Sullivan, noted, "The activation of endogenous stem cells to differentiate into specific cell types appears as an alternative to mitigate the significant remaining regulatory obstacles to adult stem cell transplantation in the United States. Vitro Biopharma is aligning its scheduled stages of clinical trials to test mobilization of endogenous stem cells in the treatment of traumatic brain injury and autism spectrum disorders (ASD), in which pre-clinical research strongly suggests the activation of certain biochemical pathways to increase proliferation, migration, and differentiation performance. Vitro Biopharma's approach does not require stem cell transplantation, while providing a non-controversial, cost- and time-effective alternative to the current methodologies of competitors." The full Award Statement is posted on our website.
Dr. Jim Musick, Vitro Biopharma's president and CEO, said, "We are honored to receive this award from Frost & Sullivan, a premier organization dedicated to corporate growth and development, as well as business expansion. While embryonic stem cell research presents numerous ethical problems and has long been the subject of considerable debate, adult stem cells provide the benefits of embryonic stem cells without the problematic issues. A hallmark of embryonic stem cells is pluripotency, a capacity to develop into any cell in the body. While once thought to be exclusive to embryonic stem cells, it is now clear that adult stem cells may be converted to the functional equivalent of embryonic stem cells through methods that manipulate gene expression. These relatively straight-forward methods were developed and validated in several labs, including Vitro Biopharma. We are now also gaining understanding of the cellular signaling processes that activate adult stem cells, including MSCs, neural and muscle stem cells that reside within our bodies. This opens the possibility to elicit stem cell therapy without transplantation. There are also potential enhancements in mental and physical performance and anti-biological aging effects that have been demonstrated in animals. We look forward to expanding the power of stem cell activation to advancing medical treatments."
Pete Shuster, a director of Vitro Biopharma and the CEO and founder of Neuromics, said, "Endogenous stem cell activation catalyzes the body's natural healing processes. Proving this has been an integral part of our internally funded research. The ability to activate specific stem cell expansion, migration and differentiation pathways holds great promise for sufferers of traumatic brain injury and autism."
"We are also encouraged by initial results treating autoimmune disease with natural stem cell activators. As previously reported, this initiative has generated revenue growth for Vitro Biopharma. Participating in TBI- and Autism-related trials would significantly accelerate this growth."
"I consider this award a validation of our strategy and anticipate more good news to come as we continue to execute and improve this strategy."
About Vitro Biopharma
Vitro Diagnostics, Inc. dba Vitro Biopharma (OTCQB: VODG; http://www.vitrobiopharma.com), owns US patents for production of FSH, immortalization of pituitary cells, and a cell line that produces beta islets for use in treatment of diabetes. In 2011, Vitro Biopharma out-licensed its intellectual property related to treatment of infertility to Dr. James Posillico, a renowned expert in Assisted Reproductive Technologies.
Vitro Biopharma also owns a pending patent for methods of mesenchymal stem cell (MSC) generation and related materials. Vitro Biopharma's mission is "Harnessing the Power of Cells(TM)" for the advancement of regenerative medicine to its full potential. Vitro Biopharma operates within a modern biotechnology manufacturing, R&D and corporate facility in Golden, Colorado. Vitro Biopharma manufactures and sells "Tools for Stem Cell and Drug Development(TM)", including human mesenchymal stem cells and derivatives, the MSC-Gro(TM) Brand of optimized media for MSC self-renewal and lineage-specific differentiation. In addition to our FSH patent licensee, Vitro Biopharma maintains several strategic partnerships, including an alliance with Neuromics, Inc. (www.neuromics.com). Neuromics, Inc. is a primary distributor of Vitro Biopharma products and a well-established manufacturer and distributor of a large variety of life science research products especially focused on cell-based assay systems. We jointly manufacture stem cell assay systems with HemoGenix(R), Inc. (http://www.hemogenix.com/), known as the MSCglo quantitative assay for determination of MSC quality, potency and response to toxic agents. Also, Vitro Biopharma's CEO is a consultant on an NSF grant at the City College of New York to advise Dr. Lane Gilcrest, professor of Materials Science and Engineering, and his colleagues regarding the development of novel extracellular materials for use in self-renewal and differentiation of mesenchymal stem cells.
Safe Harbor Statement
Certain statements contained herein and subsequent statements made by and on behalf of the Company, whether oral or written, may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. 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.
Dr. James Musick
Chief Executive Officer
(303) 999-2130 Ext. 3
E-mail: [email protected]
SOURCE: Vitro Diagnostics, Inc.