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Vet-Stem Signs License Agreement With Affiliate in Australia for Veterinary Stem Cells
Monday, November 08, 2010
San Diego, CA -- Vet-Stem, Inc. announced that a sub-license agreement with Australian Veterinary Stem Cells LTD (AVSC) has been completed which secures Vet-Stem's third affiliate to deliver its cutting-edge stem cell services to veterinarians for treating horses, dog and cats. AVSC is now authorized by Vet-Stem to deliver these stem cell services in Australia, New Zealand and Singapore.
Vet-Stem holds the exclusive worldwide rights to the University of California and University of Pittsburgh (via Artecel, Inc.) patent portfolios of over 55 issued patents covering the use of stem cells derived from fat tissue.
As the first and largest company in the world to offer fat-derived stem cell services for veterinary use, Vet-Stem has rapidly developed the market, treating over 6,500 horses and dogs. The company has moved to solidify its global leadership role by developing licensees with strong experience in key areas of the world. The first license was issued to the Central Veterinary Research Laboratory in Dubai with rights for 13 Middle East Countries. The second license was issued to Chemaphor, a public company in Canada, with laboratories in Prince Edward Island, adjacent to the Atlantic Veterinary College. This third license solidifies the distribution network by adding the Australia/New Zealand markets, with promise for opening up Asia via the Singapore connections for AVSC.
AVSC is closely affiliated with global stem cell leader, Monash University (Melborne, Australia), and the renowned laboratory of Dr. Richard Boyd. Boyd is a global expert in adult stem cells and has been working with stem cells from fat tissue for many years. His scientific guidance will help AVSC rapidly enter the veterinary markets in their assigned territories.
"Intellectual property rights can be confusing in a rapidly developing market with evolving technology," said Bob Harman, DVM, MPVM, CEO of Vet-Stem. "We have licensed the strongest patents in the world to protect the market that we are creating in regenerative veterinary medicine and to ensure that the value of the company is optimized. Now with these three distribution partners, we can utilize these global patents to reach far beyond the US markets and help animals worldwide."
The company currently offers stem cell services to veterinarians for treatment of lameness in horses and for arthritis in dogs and cats. New uses of regenerative cells are in development for diseases in dogs, cats and horses that often times have few other treatment options.
About Vet-Stem, Inc.
Vet-Stem, Inc. was formed in 2002 to bring regenerative medicine to the veterinary profession. In January of 2004, this privately held company introduced the first veterinary service in the United States to deliver stem cell and related services and products to veterinarians to treat dogs, cats and horses. These technologies utilize the natural healing properties inherent in all animals to reduce pain and improve the quality of life.
Since that time there has been rapid adoption of this technology for treatment of tendon, ligament, and joint injuries by the veterinary community. Published studies have confirmed that these stem cells can dramatically improve the healing of injuries and diseases that have had very few treatment options in the past.
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