Cesca Therapeutics Inc (NASDAQ:KOOL) has announced that it has been granted a third patent, by the USPTO, for its SurgWerks platform. The technology makes use of proprietary methods for treating ischemic cardiovascular diseases. The third patent specifically relates to the cell compositions and methods, used in the platform, for rapid delivery. The director of clinical research at the company, Dalip Sethi Ph.D, stated that the new patent covers the critical methods used for rapid infusion of bone marrow stem cells and progenitor cells. He claimed that this was an integral part their proprietary platform.
Dr. Sethi also voiced his view that the growing number of patents associated with SurgWerks, underpins their approach to treatment of cardiovascular diseases, with the latest procedures. It should be noted here that Cesca’s technology for storage and concentration of umbilical cord derived blood stem cells already holds over 30 patents. As such, the company believes that it can build a similar patent portfolio for its bone marrow derived stem cell treatments.
Cesca’s SurgWerks system is currently under development, but is expected to host devices, indication specification SurgWerks kits and analytics, to be used in regenerative stem cell therapy. Moreover, the company is also developing a CellWerks system, which is focused on the preparation of adult stem cells, from blood or bone marrow of the patient. This system would also host associated analytics, for intra-laboratory preparation. In addition to this, KOOL also has systems for the disposal and storage of these stem cells.
Earlier in September, KOOL issued its financial results for the 4Q2016, recording revenues of $3 million, $0.7 million lower than that of the preceding year. The company stated that this was mainly due to a decline in BioArchive device sales. Added to this, ResQ had also been withdrawn from the market last year, resulting in lower revenue. As such, the net loss for the 4Q2016 widened to $3.7 million, from $2.4 million a year ago.
Cesca Therapeutics Inc (NASDAQ:KOOL) had a trade volume of 6.57 million and gained 23.42%, during the October 24 trading session, to close at a share price of $3.9.