News Release
Kadimastem Receives Patent for Its
Cell Selection and Enrichment Technology Used to Develop Its IsletRx Treatment for Diabetes in India
Kadimastem
Kadimastem Ltd. (TASE: KDST), a clinical stage cell therapy company, developing and manufacturing "off-the-shelf" allogeneic cell products using its platform technology to develop treatments for different neurodegenerative diseases and a potential cure for diabetes, has been granted a patent from the Indian Patent and Trademark Office for its cell therapy technology. The cell sorting patent will be protected until November 2036 for the company's innovative cell selection and enrichment technology. This patent covers the production of IsletRx, the company's product for the treatment and potential cure for diabetes. The company's technology is unique with its ability to select and enrich only the highest functioning and purest islet cells from the population of differentiated islet-like cells which enables the maximum therapeutic effect. According to the Indian Ministry of Home Affairs, CNN and the pharmaletter India is a fastest growing economy of the global G20 with massive investments in web infrastructure and growing pharma and biotech sectors. As such biotech companies are increasingly securing their IP in India to ensure maximal potential revenues in the Indian subcontinent[1]. The approval of this patent in India is particularly important, especially in light of our collaboration project with iTolerance, a US company in the diabetes field and funded by the BIRD Foundation. The project combines Kadimastem’s and iTolerance’ s technologies to develop and commercialize a breakthrough regenerative technology to cure diabetes without the need for life-threatening chronic immuno-suppression. The project received a US $1Million grant from the BIRD Foundation for this project. Out of a total budget of US $2 Million In addition, according to statista in 2021, India was ranked second in the world with about 74.2 million diabetic adults in the 20 to 79 years old age group. The number of diabetic individuals was projected to increase to over 124 million in 2045[2]. In financial year 2021, the market size of diabetes and pre-diabetes care market in India was valued at about 17 billion U.S. dollars. It is forecasted to reach about 34 billion dollars in 2026 and 59 billion dollars in 2031[3]. Asaf Shiloni, company CEO: “Kadimastem highly believes that the company’s treatment can improve the quality of lives for hundreds of thousands of those dealing with the daily struggles of insulin dependent diabetes (IDD) by presenting a potential cure for IDD with our unique patented solution with IsletRx cells.” In May 2021, the selection technology covered by this patent was described in a peer-reviewed journal article [4] in Frontiers in Endocrinology. About Kadimastem Kadimastem is a clinical stage cell therapy company, developing and manufacturing "off-the-shelf", allogeneic, proprietary cell products based on its technology platform for the expansion and differentiation of Human Embryonic Stem Cells (hESCs) into functional cells. AstroRx®, the company's lead product, is an astrocyte cell therapy in clinical development for the treatment for ALS and in pre-clinical studies for other neurodegenerative indications. IsletRx is the company's treatment for diabetes. IsletRx is comprised of functional, insulin and glucagon producing and releasing pancreatic islet cells, intended to treat and potentially cure patients with insulin-dependent diabetes. Kadimastem was founded by Professor Michel Revel, CSO of the company and Professor Emeritus of Molecular Genetics at the Weizmann Institute of Science. Professor Revel received the Israel Prize for the invention and development of Rebif®, a multiple sclerosis blockbuster drug sold worldwide. Kadimastem is traded on the Tel Aviv Stock Exchange (TASE: KDST). About IsletRx The IsletRx product is a clinical-grade collection of pancreatic islet cells. Preclinical studies have shown that the cells are able to detect the sugar levels in the body and to produce, and secrete, on demand, the required amounts of insulin and glucagon, just like a healthy pancreas and enables the insulin dependent patient to avoid an abnormal drop in sugar level (hypoglycemia). In addition, the method of production and selection of the cells enables their implantation in various types of smaller size devices, suitable for maximum comfort for people living with diabetes. Forward Looking Statement This document may include forward-looking information as defined in the Securities Law, 5728 – 1968. Forward-looking information is uncertain and mostly is not under the Company's control and the realization or non-realization of forward-looking information will be affected, among other things, by the risk factors characterizing the Company's activity, as well as developments in the general environment and external factors affecting the Company's activity. The Company's results and achievements in the future may differ materially from any presented herein and the Company makes no undertaking to update or revise such projection or estimate and does not undertake to update this document. This document does not constitute a proposal to purchase the Company's securities or an invitation to receive such offers. Investment in securities in general and in the Company in particular bears risks. One should consider that past performance does not necessarily indicate performance in the future. Social Media: LinkedIn, Twitter, Facebook [1] Press Information Bureau (pib.gov.in); Indian economy regains its swagger as China stumbles | CNN Business; India's booming bioeconomy poised for growth (thepharmaletter.com) [2] https://www.statista.com/statistics/1360381/india-number-of-adults-with-diabetes/ [3] https://www.statista.com/statistics/1359258/india-diabetes-and-pre-diabetes-care-market-size/ [4] https://www.frontiersin.org / articles/10.3389/fendo.2021.635405/full Contact Details Kadimastem Asaf Shiloni CEO s.bazak@kadimastem.com Company Website https://www.kadimastem.com/
February 07, 2024 07:23 AM Eastern Standard Time
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