BioRestorative Therapies, Inc. (“BioRestorative”, “BRTX” or the
“Company”) (NASDAQ:BRTX), a clinical stage company focused on stem
cell-based therapies, today announced that it has entered into a
five-year exclusive supply agreement with Cartessa Aesthetics, LLC
(“Cartessa”), a leading North American based aesthetic company
focused on delivering best-in-class technologies and unparalleled
end-to-end professional customer support.
The goal of this transformative agreement is to
combine BioRestorative’s deep cell-based biologics experience, and
formulation and clinical manufacturing expertise, with Cartessa’s
extensive professional aesthetics market reach, and marketing and
distribution capabilities. BioRestorative also intends to explore
the potential of expanding the collaborative relationship into a
broader family of commercialized biocosmeceuticals and therapeutics
via Investigational New Drug (IND)-enabling studies, with the aim
of pioneering U.S. Food and Drug Administration (FDA)-approvals in
the emerging biocosmeceuticals space.
As part of the exclusive five (5)-year
agreement, BioRestorative has agreed to supply pre-set minimum
quantities of finished vials of its initial cell-based biologic
commercial product to Cartessa annually as private label under
Cartessa’s Chronos ExoCR mark. This product, formulated and
manufactured by BioRestorative using its cGMP ISO-7 certified clean
room, is comprised of a cell-based secretome containing exosomes,
proteins and growth factors. This proprietary biologic serum has
been specifically engineered by BioRestorative to reduce the
appearance of fine lines and wrinkles and bring forth other areas
of cosmetic effectiveness.
"Cartessa is known for bringing differentiated,
non-invasive technologies to the world’s best aesthetic providers.
To that end, we are thrilled to partner with BioRestorative to
introduce a novel and proprietary cell-based innovation within this
high-demand market category,” said Gabe Lubin, Founder and CEO of
Cartessa. “Upon mutual consent, the companies will also pursue
opportunities to bring additional cell-based biologic products to
existing and new aesthetics markets, both at home and abroad. We
look forward to keeping our customers and the aesthetics industry
at large updated as we progress toward making state-of-the art
biocosmeceuticals more widely available.”
“We believe this strategic agreement with an
established aesthetics market leader like Cartessa validates our
cell-based biologics platform and represents a transformative step
toward our building a strong commercial engine capable of
supporting profitable growth while also helping fund the continued
advancement of our clinical, BRTX-100, and preclinical,
ThermoStem®, pipeline,” said Lance Alstodt, BioRestorative’s CEO.
“The global aesthetic medicine market size was valued at $127.1
billion in 2023, and that is projected to grow at a CAGR of 14.9%
from 2024 to 2030.1 Much of this growth is related to regenerative
aesthetics, and therapies containing exosomes and growth factors in
particular, which have emerged as a important sub-field of the
space.2,3 We see this trend continuing into the future, primarily
as a result of social media driving awareness and acceptance,
aesthetics service outlets proliferating globally, and new
indications gaining meaningful traction. We are looking forward to
working closely with Cartessa to build a significant presence for
BioRestorative in this large and growing industry.”
Mr. Alstodt added, “We ended 2023 with
approximately $11.1 million in cash, cash equivalents and
investments in marketable securities, which did not include net
proceeds of $7.6 million from the warrant exchange private
placement completed in February. As a result, we are fortunate to
have entered into this transformative agreement with Cartessa while
in the enviable position of already having cash runway well into
2025. This, combined with the meaningful revenues we expect from
the commercialization of Chronos ExoCR, should make us
significantly less reliant than most of our clinical-stage life
sciences company peers on the capital markets going forward.”
Reference
1 Grand View Research, Aesthetic Medicine
Market Size, Share, Growth Report, 2030
2 Trovato F, Ceccarelli S, Michelini S,
Vespasiani G, Guida S, Galadari HI, Nisticò SP, Colonna L,
Pellacani G. Advancements in Regenerative Medicine for Aesthetic
Dermatology: A Comprehensive Review and Future Trends. Cosmetics.
2024; 11(2):49. https://doi.org/10.3390/cosmetics11020049
3 Goldie K. The evolving field of
regenerative aesthetics. J Cosmet Dermatol. 2023 Mar;22 Suppl
1:1-7. doi: 10.1111/jocd.15556. PMID: 36988470.
https://pubmed.ncbi.nlm.nih.gov/36988470/
About Cartessa Aesthetics,
LLC.
Cartessa Aesthetics (www.cartessaaesthetics.com)
is a leading North American aesthetic company focused on
cutting-edge technology and industry leading customer support.
Thanks to an independent business model and established
relationships with top global manufacturers, Cartessa's product
portfolio offers true competitive advantages for practices and
patients across every aesthetics category. Customers benefit from
expertly vetted products and end-to-end support to maximize the
clinical outcomes and returns of their investment.
About BioRestorative Therapies,
Inc.
BioRestorative Therapies, Inc.
(www.biorestorative.com) develops therapeutic products using cell
and tissue protocols, primarily involving adult stem cells. Our two
core programs, as described below, relate to the treatment of
disc/spine disease and metabolic disorders:
• Disc/Spine Program (brtxDISC™): Our lead cell
therapy candidate, BRTX-100, is a product formulated from
autologous (or a person’s own) cultured mesenchymal stem cells
collected from the patient’s bone marrow. We intend that the
product will be used for the non-surgical treatment of painful
lumbosacral disc disorders or as a complementary therapeutic to a
surgical procedure. The BRTX-100 production process
utilizes proprietary technology and involves collecting a patient’s
bone marrow, isolating and culturing stem cells from the bone
marrow and cryopreserving the cells. In an outpatient
procedure, BRTX-100 is to be injected by a physician into
the patient’s damaged disc. The treatment is intended for patients
whose pain has not been alleviated by non-invasive procedures and
who potentially face the prospect of surgery. We have commenced a
Phase 2 clinical trial using BRTX-100 to treat chronic
lower back pain arising from degenerative disc disease.
• Metabolic Program (ThermoStem®): We are
developing a cell-based therapy candidate to target obesity and
metabolic disorders using brown adipose (fat) derived stem cells to
generate brown adipose tissue (“BAT”). BAT is intended to mimic
naturally occurring brown adipose depots that regulate metabolic
homeostasis in humans. Initial preclinical research indicates that
increased amounts of brown fat in animals may be responsible for
additional caloric burning as well as reduced glucose and lipid
levels. Researchers have found that people with higher levels of
brown fat may have a reduced risk for obesity and
diabetes.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. You are cautioned that such
statements are subject to a multitude of risks and uncertainties
that could cause future circumstances, events or results to differ
materially from those projected in the forward-looking statements
as a result of various factors and other risks, including, without
limitation, those set forth in the Company's latest Form 10-K filed
with the Securities and Exchange Commission. You should consider
these factors in evaluating the forward-looking statements included
herein, and not place undue reliance on such statements. The
forward-looking statements in this release are made as of the date
hereof and the Company undertakes no obligation to update such
statements.
CONTACT:
Email: ir@biorestorative.com
BioRestorative Therapies (NASDAQ:BRTX)
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부터 4월(4) 2024 으로 5월(5) 2024
BioRestorative Therapies (NASDAQ:BRTX)
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부터 5월(5) 2023 으로 5월(5) 2024