The clinical-stage biotechnology company, global licensor, and a pioneer in autologous cellular processing and therapies American CryoStem Corporation (OTCPink: CRYO) rose 50.86% to $0.4980 during yesterday’s trading. American CryoStem stock traded 11,890 shares compared with its average 30-day volume of 31,335. The signing of a letter of intent (LOI) for a clinical study boosted the CRYO stock.
What was that LOI signed for?
American CryoStem is developing and licensing new technologies for cell therapy, including therapies using autologous stem cells. CRYO provides its patients with a best-in-class, end-to-end cellular therapy solution with our centralized laboratory model and patent-pending “CryoStem Platform”. CRYO creates personalized adipose-derived mesenchymal stem cell therapies directly at the point of care using adipose-tissue scar tissue and cryopreservation at ATCELL Bank.
The American CryoStem company announced in this month that it had signed a LOI with Tinton Falls, NJ’s Advanced Regenerative Associates, LLC (“ARA”).
- CRYO had signed the LOI for the development of a cell-based wound covering product for nonhealing wounds, skin ulcers, and peripheral ischemia caused by type II diabetes, burns, and other systemic disorders.
- ARA is dedicated to developing a range of cellular therapy products and devices under the direction of Dr. Michael J. DeMarco.
- Diabetes wounds and skin ulcers that do not respond to current standards of care are treated and mitigated with the products developed by ARA.
Will it be an opportunity for CRYO?
American CryoStem (CRYO) sees a huge market opportunity in the development of cellular therapy products and treatments. A number of CRYO’s efforts are geared toward addressing diseases, disorders, and muscle-skeletal injuries with multi-billion dollar treatment markets, such as using the “CryoStem Platform” and centralized laboratory manufacturing methodologies. As part of that strategy, CRYO’s current move fits in.