GOLDEN, Colo.--(BUSINESS WIRE)-- Vitro Diagnostics, Inc. (OTCBB: VODG)(OTCQB: VODG), dba Vitro Biopharma, announced that it signed an amendment to its contract to jointly manufacture and distribute stem cell analysis tools with HemoGenix®, Inc., a leading firm known for its pioneering HALO® analysis platform for stem cells. The previous agreement with HemoGenix® led to the launch of LUMENESC-Hu™ & LumiSTEM™ assays for high performance analysis of certain types of adult stem cells. The new amendment expands the original agreement to include development of stem cell culture media and high performance toxicity assays to provide new cell-based tools for drug discovery and development. The partners also agreed to align their respective quality programs to assure consistency.
An initial target of the expanded alliance is the development of a highly sensitive test for liver toxicity combining Vitro’s VITROGROW™ cell culture medium, human hepatocytes and the industrially-adopted bioluminescent readout system that has been developed and perfected by HemoGenix®. The resultant product is anticipated to provide state-of-the-art testing for detecting liver toxicity and drug-induced liver injury, which are major obstacles in the development of safe drugs and biologics. The partners plan immediate validation studies followed by a series of unique bioluminescent-based products incorporating highly sensitive hepatocellular viability measurements together with detection of indicative biomarkers to support safe and effective new drugs and biologics. Liver toxicity is a common problem of approved drugs that has led to recalls of high profile drugs such as troglitazone (Rezulin®) at extensive costs. The new products will be oriented towards early in vitro detection of liver toxicity, with an overall reduction in drug development cost for drug candidates. The partners also intend to expand the LumiSTEM™ platform for other cell-specific toxicity assays such as heart, kidney and neuronal cells.
Dr. Ivan Rich, CEO of HemoGenix®, Inc., said, “We are very pleased to expand our collaboration with Vitro to include advanced toxicity testing. Our HALO®, LUMENESC™ and LumiSTEM™ assay platforms have validated applications to high throughput toxicity screening and testing and we look forward to advanced hepatocellular toxicity testing through the expansion of our agreement with Vitro. I am very well aware of the complex issues associated with liver toxicity and look forward to our launch and development of a series of products that address this critical issue in drug and biologics development. This has been a persistent problem in drug development and discovery and we anticipate that our new products will advance heptotoxicity testing and thus reduce drug development costs, with an overall impact of reduction in healthcare costs.”
About HemoGenix, Inc.
HemoGenix® (http://www.hemogenix.com/), a privately held life sciences company located in Colorado Springs, Colorado, was founded in 2000 by Ivan N. Rich, Ph.D., an internationally recognized researcher in the field of developmental, experimental and applied clinical hematology. HemoGenix® was formed as a Contract Research Service Laboratory for stem cell hemotoxicity testing. Dr. Rich subsequently developed, patented and commercialized the HALO® Assay Platform, a state-of-the-art quantitative assay for hematopoietic stem cells. The HALO® Assay replaces the older colony-forming assay of stem cells which has many disadvantages including variable results resulting in a lack of quantization.
HemoGenix®, Inc. now offers over 1,000 different catalog items including HALO®, LUMENESC™, LumiSTEM™ and OxyFLOW™ Kits all over the world to biotechnology and pharmaceutical companies and academic institutions.
About Vitro Diagnostics, Inc.
Vitro Diagnostics, Inc., dba Vitro Biopharma (OTCBB: VODG; http://www.vitrobiopharma.com), owns US patents for production of a fertility drug, immortalization of pituitary cells, and a cell line that produces beta islets for use in treatment of diabetes. Vitro’s mission is “Harnessing the Power of Cells™” for the advancement of regenerative medicine to its full potential. Vitro also owns pending US patents for stem cell therapy of cancer, generation of pluripotent stem cells and is continuously developing patentable cell lines and technologies. Vitro operates within a new high tech and regulatory compliant manufacturing, R&D and corporate facility in Golden, Colorado. Vitro manufactures and sells “Tools for Stem Cell and Drug Development™”, including human mesenchymal stem cells and derivatives, optimized media for sustained self-renewal, lineage-specific differentiation and products supporting induced pluripotent stem cell and cancer research.
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.
Vitro Diagnostics, Inc.
Dr. James Musick
Chief Executive Officer
KEYWORDS: United States North America Colorado
INDUSTRY KEYWORDS: Stem Cells Health Biotechnology Diabetes