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TOPIC: Intellicell Cells are dead cells

Intellicell Cells are dead cells 17 Sep 2014 09:25 #2219

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The "seniors" amongst us will remember the occasional stories at Yahoo from alleged patients treated with cells from Intellicell (CEO Steven Victor), which separated cells from fat with ultra sonic cavitation. The writing style of these stories were always the same and already soon I was informed by "insiders in the business" that this was scam.
The procedure kills the cells.

Up to this date I however never learned of the ultimate outcome of the Company except for the fact that Victor was being sued and the stock is not worth a cent any longer.

In Australia a licensee of the "tech" is now being attacked by media- in the report- statements by Robert Sexauer, who I discussed a lot with in the past at LinkedIn. I thought he was pretty bright and apparently had worked for Intellicell (which I never knew)- anyway-

Long video here: ABC news in Down Under

Below a short excerpt from a Yahoo article derived from the long video-

Scientists found Intellicell's method killed stem cells

Dr Bright paid $ 700,000 to US company Intellicell for a licence for the method.

Intellicell is now being sued by investors and former employees for misuse of funds and alleged fraud because it was discovered that cells it was claiming to be live were dead.

Robert Sexauer was Intellicell's vice president of Clinical Research and Development and has exposed to 7.30 for the first time what went wrong.

"You cannot take shortcuts, you cannot take any kind of a method whereby you either put patients at risk, or you put the quality of the people that you're working with in terms of research at risk," Mr Sexauer said.

In internal company emails in April last year, Mr Sexauer tried to warn management that scientists at four independent universities had found that Intellicell's method killed the stem cells.

But he said Intellicell chief executive Steven Victor ignored his warnings.

"You've got a physician who has been duly notified by highly qualified research institutions that the cellular population that they are using in-human is an inert or dead cell population and they've chosen to ignore that and still go on as if it is not and claim to investors, to regulators, to patients, to the communities at large that these cell populations are live cells," Mr Sexauer said.

The 7.30 program has obtained an affidavit to the US Food and Drug Administrator (FDA) by Intellicell's quality assurance manager - who first blew the whistle on the company and who said she was "directed ... to knowingly adulterate records".

The manager alleged she was urged to conduct unregistered clinical trials and to create fake data to send to the US Patent Office.

"The pressure to publish was so great and the pressure to publish what I would consider to be less than adequate results was very, very high," Mr Sexauer said.

"And that is a breach of ethics."

The affidavit led the FDA to send a formal warning to Intellicell about its methods, which highlighted a number of problems with Intellicell's laboratory, ranging from quality controls and sanitation to scientific methods.

A group of investor doctors and former employees are now suing Intellicell for misuse of funds and alleged fraud.

Among the litigants is Dr Bright, who had paid for technology that now appeared to be useless.

The plaintiffs have said that Intellicell lied to the US Patent authority and to them.

"[Intellicell] knowingly altered, or caused to be altered, test data and falsely claimed the process provides a 97 per cent live cell recovery ... At all times (Intellicell) knew and was aware that the actual recovery of live stem cells was less than 3 per cent," the court documents allege.

By the way- the "dead cells" worked apparently with Jason Kolbert- who made a lot of "promotion" for the Company :grin: :grin: :grin:
The following user(s) said Thank You: d9dozrman, keysman

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Intellicell Cells are dead cells 17 Sep 2014 09:51 #2220

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Yeah...I remember the intellicell pumpers on the YMB.

JK always good for a laugh....wonder where he is at with his 2020 earnings est. for CYTX today ?

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