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. Under this agreement, the firms will partner 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 leading the way for filing the IND application for COVID-19 with US FDA, while Vitro will provide its AlloRx Stem Cells™ for use in the study. GIOSTAR has already obtained 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. The agreement relates to 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.
“AlloRx Stem Cells® continues to gain recognition as superior stem cell therapies by our partners,” noted Dr. Musick. “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.”
About Vitro Biopharma:
For over 10 years, Vitro Biopharma 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. The company also supplies primary fibroblast cells and an expanding line of cancer-associated fibroblasts (CAFs) from various tumors including lung, breast, melanoma, pancreatic and colorectal tissues. Vitro CAFs are purchased by major pharmaceutical and biopharmaceutical firms to advance immunotherapy of cancer.
Through years of research, the company developed AlloRx Stem Cells®, a patent-pending, proprietary line of umbilical cord derived stem cells. The product is now being used in international regenerative medicine clinical trials for in Grand Cayman, the Bahamas, and other countries throughout the world.
Vitro Biopharma has a proprietary and scalable manufacturing platform to provide stem cell therapies to patients suffering from coronavirus, multiple sclerosis, osteoarthritis, Crohn’s disease and numerous other medical conditions. The firm’s Current Good Manufacturing Practice (cGMP) manufacturing process has received ISO9001, ISO13485 certification, and have proven safe and effective in international Phase I clinical trials.
About GIOSTAR
GIOSTAR is the pioneer and established leader in the in the field of stem cell research, with stem cell research and treatment facilities around the world. The company collaborated with India Prime Minister Narendra Modi and the government of India to build the world’s largest stem cell hospital in 2012. 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
contact@giostar.com
Vitro Biopharma contact:
Dr. James Musick
Chief Executive Officer
Vitro Biopharma
(303) 550-2778
E-mail: jim@vitrobiopharma.com
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.
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