VetStem Biopharma Spins Out Veterinary Division
VetStem Biopharma spins out veterinary regenerative medicine group into VetStem, Inc. to allow dedicated focus on bringing animal stem cell products to market.
Regenerative veterinary medicine company, VetStem Biopharma, provides adipose derived stem cell processing services to veterinarians for their patients in the United States and Canada as well as cell therapy manufacturing services (CDMO) to human biopharma companies. The CDMO division has seen rapid growth over the past three years and the decision was made to separate them to allow core focus and development.
VetStem, Inc. will continue to provide stem cell processing and storage services for veterinarians throughout the United States and Canada as well as offer a suite of platelet therapy products. Since the first VetStem stem cell recipient in 2004, VetStem has processed nearly 15,000 patient samples, resulting in over 30,000 stem cell treatments.
VetStem’s CEO and Chief Scientific Officer will continue to be Dr. Bob Harman. He is one of the original founders of VetStem and a recognized expert in the field of Regenerative Medicine, who has been invited to speak at conferences worldwide about the use of stem cells in both human and veterinary medicine. “I am so happy to be able to focus solely on continuing to grow our products and services for our clients and focus my energy on the advancement of the use of stem cells for both human and animal patients,” stated Dr. Harman.
VetStem will continue to build a patent portfolio for use in veterinary and human medicine, as well as continue to license much of this portfolio to Personalized Stem Cells, Inc. (PSC), a spinoff of VetStem, for use in humans. VetStem will also continue to own the majority stake in Personalized Stem Cells, a clinical stage human biopharma company. The collaboration and sharing of data between PSC and VetStem will continue, as both companies collaborate to develop new treatment modalities.
VetStem was the first company to provide adipose derived stem cell services to veterinarians in the United States and Canada and has provided those services for over 15,000 animals. PSC was formed in 2018 as a spinoff of VetStem and started its first FDA approved clinical trial in December of 2019 for knee osteoarthritis and submitted the final study report of preliminary safety and efficacy results to the FDA earlier this year. Both VetStem and PSC strive to stay at the forefront of the field to advance and legitimize stem cell treatments. They continue to explore much-needed applications for stem cells such as organ failure, traumatic brain injury, and immune-mediated diseases. Most recently, PSC submitted an Investigational New Drug application for a clinical trial for COVID-19 patients.