Before the opening bell, International Stem Cell Corporation (OTCQB: ISCO) provided a business update and announced its fourth quarter and year-end financial results for the period ended December 31, 2015. Through wholly-owned subsidiaries Lifeline Skin Care and Lifeline Cell Technology, the company increased its operating income by 65 percent to $1.67 million during 2015, as compared to $1.01 million in 2014. This increase, which also included an eight percent rise in total revenues, was attributed to a 15 percent spike in sales through Lifeline Cell Technology. Lifeline Cell Technology is expected to continue gaining momentum in the months to come following the recent launch of its new nano-compound products, which have been shown to induce the production of elastin and collagen without the toxic characteristics of retinoic acid.
This strong financial performance set the stage for ISCO’s progress toward the development of its innovative human parthenogenetic stem cells-derived neural stem cells, as described by its CEO and co-chairman, Andrey Semechkin, PhD.
“2015 was a milestone year for ISCO,” he stated in the news release. “We made significant progress in our corporate priorities and received authorization by the Therapeutics Goods Administration in Australia to initiate a Phase I dose escalation clinical trial of human parthenogenetic stem cells-derived neural stem cells (ISC-hpNSC®) in patients with moderate to severe Parkinson’s disease (PD). In addition to Parkinson’s, our scientists are currently evaluating other therapeutic indications based on our stem cell technology platform.”
After receiving approval to begin clinical trials of ISC-hpNSC for the treatment of Parkinson’s in Australia, ISCO entered into a master clinical research agreement with the Florey Institute of Neuroscience and Mental Health, one of the world’s leading brain research centers, covering a phase I clinical study. With this arrangement in place, the company commenced enrollment for its clinical trial in early March, and it expects to provide interim results from the study as early as October 2016.
ISCO will look to build on its recent progress moving forward in 2016. In addition to completing dosing in its phase I clinical study and reporting preliminary efficacy and safety clinical trial results, the company aims to report on the results of animal studies examining the efficacy of ISC-hpNSC as a treatment for stroke, as well as animal study results of a novel therapy using a patient’s own cells to combat osteoarthritis.
For more information, visit www.internationalstemcell.com