American CryoStem 2016 Year End Update
EATONTOWN, NJ / ACCESSWIRE / January 4, 2017 / American CryoStem Corporation (CRYO) a leading strategic developer, marketer and global licensor of patented adipose tissue-based cellular technologies for the Regenerative and Personalized Medicine industries, today released Summary corporate and financial highlight information regarding the Company’s year ending September 30, 2016;
- The Company’s Total Revenue increased 75% in Fiscal 2016 versus 2015
- Contributing to the Total Revenue increase for Fiscal 2016, International Revenue increased 19% in Fiscal 2016 versus Fiscal 2015
- Accounts Receivable increased 15% in Fiscal 2016 versus Fiscal 2015
- Tissue storage and processing increased 289% in Fiscal 2016 versus Fiscal 2015
- Research & Development decreased 60% in Fiscal 2016 compared to Fiscal 2015 which is attributed to; the completion of certain research projects
- Professional fees increased (principally legal and accounting) 130% in Fiscal 2016 compared to Fiscal 2015 due to an increase in legal expenses for the prosecution of our international patent portfolio, and optimization and scale up work associated with the licensing of our patented cell culture media, ACSelerate Max, to PeproTech in 2016
“American CryoStem’s 2016 results reflect an increased interest by the medical and patient populations to seek out natural cosmetic solutions and products, and cellular therapies as alternative treatments for those that are not responding to traditional treatment solutions. We believe that we are well positioned to respond to these increased interests and look forward to continuing our year over year positive results” stated Anthony Dudzinski, COO.
John S. Arnone, CEO stated, “We are very optimistic about the state of the Regenerative Medicine Industry in the United States and globally as we enter 2017. We have seen a steady increase of new patients storing their stem cells for future use and physicians utilizing our products and service in 2016. We are in discussions for new global territories with licensees seeking to establish our adipose tissue (fat) based collect-process-store, stem cell platform in their country”. This increased interest in cellular therapies is evidenced in eight thousand (8,000+) plus clinical trials currently registered with ClinicalTrials.gov focused on adipose tissue and its derivatives which include; adipose tissue (2,083), adult stem cells (5,709), adipose derived stem cells, mesenchymal stem cells and stromal vascular fraction (SVF). Arnone further stated, “In 2017 we look forward to expanding our US based physician network, patient stem cell storages and increasing our global laboratory footprint as regenerative and personalized medicine applications become main stream”.
In 2017 management intends to continue its focus on increasing revenue, reducing costs and plans to begin a comprehensive investor and customer relations programs in Fiscal 2017.
About American CryoStem Corporation
American CryoStem Corporation (OTCQB: CRYO); was founded in 2008, and has evolved to become a biotechnology pioneer, standardizing adipose tissue derived technologies (Adult Stem Cells) for the fields of Regenerative and Personalized Medicine. The Company operates a state-of-art, FDA-registered, clinical laboratory in New Jersey and licensed laboratories in Hong Kong, China and Tokyo, Japan, operating on our proprietary platform, dedicated to the collection, processing, bio-banking, culturing and differentiation of adipose tissue (fat) and adipose derived stem cells (ADSCs) for current or future use in regenerative medicine. CRYO maintains a strategic portfolio of intellectual property (IP) that surrounds our proprietary technology which supports a growing pipeline of stem cell applications and biologic products. We are leveraging our proprietary, IRB approved, FDA compliant platform and a developed product portfolio to create a domestic and global footprint of licensed laboratory affiliates, physicians networks and research organizations who purchase tissue collection, processing and storage consumables from our Company. Our laboratory stem cell bank/line products are characterized adult human Mesenchymal Stem Cell (MSC’s) derived from adipose tissue that work in conjunction with our 13 patented (non-animal) medium lines. The Company’s R&D efforts are focused on university and private collaborations to discover, develop and commercialize ADSC therapies by utilizing our standardized collection-processing-storage methodology and laboratory products combined with synergistic technologies to create jointly developed regenerative medicine applications and intellectual property.
For further detailed corporate or Regenerative Medicine information please visit: www.americancryostem.com, request by email at firstname.lastname@example.org or phone 732-747-1007