EXCLUSIVE: BioRestorative Therapies Gets Exclusive License Rights From Regenexx For Development Of BRTX-100 Disc Program To Treat Chronic Lumbar Disc Disease
BioRestorative Therapies, Inc (NASDAQ: BRTX), a stem cell-based therapies clinical-stage company, forged an agreement with Regenexx, LLC, under which BRTX gets exclusive license rights for intellectual property developed to address chronic lumbar disc disease.
What Happened? The intellectual property, now exclusively licensed to BioRestorative, represents the critical technological framework for BRTX's disc and spine technology related to its BRTX-100 lead clinical program, currently in a Phase 2 trial with 15 sites selected across the U.S.
Dr. Christopher Centeno developed intellectual property in his lab. Dr. Centeno has been a leader in cellular therapy for musculoskeletal indications for over 17 years.
The BRTX-100 platform is a cell-based technology that utilizes low oxygen (hypoxia) to engineer the cells' modulation strategy to repress or activate the transcription of target genes related to tissue remodeling.
Data from early investigator-initiated human studies suggest a potential for this platform to regulate target hypoxia-dependent gene expression to improve both the efficacy and safety of first-generation cell-based therapies, BioRestorative said.
Why Does It Matter? "Today's announcement is the result of years of dedicated work, demonstrating our capacity to prosecute intellectual property into issued patents and show significant advancement in clinical settings. With the projected growth of our R&D pipeline, the acceleration of our Brown Fat platform, and findings from the safety component of our Phase 2 clinical trial in chronic lumbar disc degeneration, we anticipate that this strong momentum will extend through 2023," Lance Alstodt, CEO at BioRestorative told Benzinga.
BioRestorative aims to create a new generation of cell-based products to induce long-term and sustained pain relief for patients suffering from musculoskeletal indications.
"Approximately $40 billion is spent annually on invasive surgical procedures. With BRTX-100, the company is seeking to provide a paradigm-shifting, non-invasive solution to millions of patients worldwide," Alstodt added.
Price Action: BRTX shares closed higher by 6.59% at $3.56 on Friday.
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