How is it that a private autologous adipose stem cell company, very similar to Cytori, was able to raise $20MM without any drama?.
InGeneron Completes Strategic Financing from Sanford Health to Advance Regenerative Cell Therapies
In addition to clinical trial cooperation with one of the largest U.S. hospital groups, investment will support clinical development in orthopedics and wound healing
Houston, Texas, and Sioux Falls, South Dakota, March 6, 2017 – InGeneron Inc., a regenerative medicine and cell therapy company, announces that Sanford Health, one of the largest integrated healthcare providers in the U.S., has invested $20 million in the company in the form of a Series D financing. The funding is in addition to an active cooperation between InGeneron and Sanford Health for the execution of InGeneron’s clinical programs to improve outcomes in rotator cuff and venous ulcer treatment with its proprietary cell-based therapeutic approach.
“This significant investment demonstrates Sanford’s commitment to be an active participant in InGeneron as well as being our clinical trial site of choice,” said Ron Stubbers, MBA, President of InGeneron. “Our joint efforts will enable the company to make regenerative cell therapies available to clinical practice and to establish a leading position in the application of adipose-derived regenerative cells.”
Earlier this year, Sanford began enrolling participants in the FDA-approved Safety and Efficacy of Adult Adipose-Derived Stem Cell Injections into Partial Thickness Rotator Cuff Tears clinical trial. The trial uses stromal vascular fraction, a mixture of cells and nutrients isolated from a patient’s own body that contain adipose-derived stem cells, as a potential therapy for partial-thickness rotator cuff tears. Sanford scientists and clinicians are exploring the application of this type of stem cells for other conditions.
Kelby Krabbenhoft, President and CEO of Sanford Health, notes that InGeneron’s approach can help meet a medical need in key orthopedics and wound healing. “Our active collaboration enabled us to be among the first U.S. health care providers to study adipose stem cell therapy in clinical trial,” Krabbenhoft said.
“The investment and expertise Sanford Health brings will accelerate the clinical developments and be a significant facilitator en route to bringing new regenerative cell therapies to patients,” commented Fabian Alt, CFO of InGeneron.
InGeneron is developing regenerative cell therapy applications for orthopedic and wound-healing indications based on its proprietary technology, which enables physicians to use adipose-derived regenerative cells from the patient’s own body for immediate therapeutic application at point of care. InGeneron has an active collaboration with Sanford Health to conduct its clinical trials in rotator cuff tears and venous ulcers at different sites in the Sanford Health network. These studies aim to investigate the safety and efficacy of using autologous adipose-derived regenerative cells in patients compared to current standard of care treatments. With the aim of regulatory approval in the U.S., the first patients were enrolled in InGeneron’s clinical program in January 2017.
InGeneron is elevating the field of regenerative medicine by translating robust science into proven patient benefit. Our purpose is to set new therapeutic standards by enabling physicians to use the patients’ own regenerative cells at point of care. With the initial focus on key orthopedic and wound healing indications, we will make regenerative cell therapies broadly accessible across multiple medical fields.
I sent the link to this press release to John Frasier asking about our patents. I have not received a reply and probably won't. The last time I asked about our patents, I was told the company's philosophy was to permit patent violations until economic harm can be measured. In this way, potential violators help further the stem cell movement with clinical trials and data. After they have invested hundreds of millions, then we will cut them down at the knees!!!
I feel compelled to respond that with respect to that litigation re Patent 6,777,231, CYTX made it quite clear in its Form 10-K for the year 2009 that "our ongoing business activities and product development pipeline should not affected by these events" ( i. e., the litigation).
The longer this train wreck continues to fumble down the tracks toward oblivion the more I realize that nobody on this board has a clue as to why they invested in this company, to begin with. We are some 5 years since I made the mistake of investing heavily in this POS and we are further away from the goal line then the ill-fated day I was told about this company. Nothing but lies ,missteps, do-overs, dilution, and bullshit.
No progress, partnerships or light at the end of the tunnel regardless of the management era. Face it folks we've been Calhouned again . It will all be over soon.
I realize that nobody on this board has a clue as to why they invested in this company
Unfortunately I do know why I invested in this company. I was enamored by the "story" which stated that the harvesting of stem cells from ones own adipose tissue could form the basis of a pioneering set of therapies to help treat everything from heart failure, to impotence, to hair loss, to breast cancer, to thermal burns, to knee and joint pain, and now scleroderma.
I thought that my investment would if successful propel me to wealth and prosperity. Help me to attain the lifestyle I always dreamed of.
Yep that is why I invested along with people that I felt were confident in the ability of Cytori to move their "science" to the next level.
Now I have written off my dreams for this company. The best thing that I have gained is the knowledge that risk is just that. I took the risk and I lost. But I still come to this board to try to understand how it has all happened. I don't know if any of us will ever find out.