Bio-Matrix Scientific Group, Inc. (OTCBB: BMSN) provided a progress report on the Company’s previously announced new opportunities. The Company has been moving forward in the areas of stem cell research for treatment of Chronic Obstructive Pulmonary Disease (COPD), Tumor Banking and Cancer Treatment.
The Company is in the process of forming a relationship with a medical device manufacturer that produces encapsulation devices to be used in a study developed by Entest BioMedical (OTCBB: ENTB), on an immuno-therapeutic cancer vaccine. Entest is a publicly traded majority owned subsidiary of Bio-Matrix.
Bio-Matrix’ role will be to joint venture the production of these devices which are used not only in cancer treatment but have applications in diabetes research and beyond. Bio-Matrix believes this joint venture should be consummated by the end of October 2009 and should show near term revenue in a rapidly expanding market niche.
The Company is also in the process of selecting a Contract Research Organization (CRO) to perform the animal studies which involve treating COPD with adipose derived stem cells. The Company believes selection of a CRO will be completed by the end of October, with November 2009 as the target start date.
David Koos, Chairman and CEO, stated, “We believe treatment for COPD is an under-researched area for a condition that has a major impact on our health. There are no truly effective cures for this disease. We see our approach as extremely strong in addressing this malady.”
Additionally, plans are moving forward to develop a tumor bank within Bio-Matrix’ facility. The Company is in discussions with several veterinary sources for animal tumor specimens. These specimens will be used by Entest BioMedical in its cancer research and will be cryogenically preserved in Bio-Matrix’ facility to allow for ease of availability.
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