International Stem Cell Corporation (OTCQB: ISCO), a California-based clinical stage biotechnology company developing novel stem cell-based therapies and biomedical products, announced today that its wholly owned subsidiary, Lifeline Cell Technology (LCT), has expanded its business and manufacturing capabilities to fulfill current and forecasted demand.
LCT has demonstrated stable manufacturing and revenue growth over the last five years. In 2017 alone, the annual revenue growth outperformed 2016 by over 20 percent. And in Q1 2018, LCT experienced more than a 50 percent increase in sales growth from the prior year quarter. During this time, several projects have been completed that greatly improved LCT’s manufacturing capabilities, allowing LCT to meet the growing demand of its products.
The upgrades have been made in all operational departments, including new equipment that has significantly improved its manufacturing and testing capabilities, now handling quadruple its original batch sizes. LCT has also hired additional staff in manufacturing and is in the process of expanding its facilities to include a formulation lab, a warehouse, and more working space.
“We continue to receive positive feedback from both new and current customers on the performance of our products and the efficiency of our distribution channels. Customer loyalty, our growing catalog of items, and increasing research and development spent in the biomedical market should help us continue our sales growth” commented Andrey Semechkin, PhD, Co-Chairman and Chief Executive Officer of ISCO.
Lifeline® Cell Technology develops manufactures and distributes high quality cells, media, and reagents for the research market world-wide. LCT’s modern laboratories and strict Quality Assurance provide high levels of consistent value to the research community. LCT conducts human cell in vitro research, product development, and manufacturing at the facilities in Oceanside, CA and Frederick, MD. The laboratories include all the necessary equipment used to manufacture, package, test, store, and distribute primary human cells and cell culture media. We are continuing to expand the cell culture facilities to include therapeutic cell research, development, and production in the cGMP suites.
Sponsored Content Release
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.