BHRT.OB entered into an agreement with AnC Bio Holdings, a South Korean biomedical company for a $4M equity investment.
Bioheart has designated proceeds from the investment to advance the current clinical evaluation of its cell therapies for treating heart failure and related cardiac diseases.
- BHRT.OB’s trials include the phase II/III MARVEL study for MyoCell and the REGEN Phase I Dose Escalation Study for the 2nd generation product MyoCell SDF-1.
BioHeart’s, MyoCell is an adult muscle stem cell composition, also known as immature myoblasts are derived and processed from patient’s own thigh muscle.
- These cells are delivered to a patient’s heart via the MyoCath needle tipped catheter or a similar device which is inserted through the patient’s groin and is directed to the inside of the heart where the injections are made;
- MyoCell has been in clinical trials for treating advanced heart failure patients since early 2001;
- A 2nd generation composition MyoCell SDF-1 received FDA approval for clinical trials. This composition is made up of genetically modified cells that over express the stromal derived factor 1 protein that has been shown to improve blood vessel formation and muscle development;
- BHRT.OB has also initiated clinical evaluation of methods of treating heart ischemia, acute myocardial infarctions and lower limb ischemia utilizing adipose (fat) derived cells.
AnC Bio Holdings Inc is a publicly listed company on the Korea Stock Exchange (KS039670) and was founded in 1999. It is the parent company of AnC Bio Inc. which owns a cGMP cell culturing facility for stem cell therapy medicine, cell culture based vaccines, and also owns patented artificial organ technologies.