Singapore-based CellResearch Corporation, a biotechnology startup specializing in stem cell research is planning a placement on the Nasdaq board in 2019.
This comes as part of the company’s strategy to extend its international footprint, in addition to the strong likelihood of profitability, as biotechnology and medical research sectors are currently seen as blue-sky investments.
“The market for advanced wound care is worth US$22 billion, and we’re confident we can get a good slice of it,” said CellResearch Corp’s Group Chief Executive Gavin Tan. “We are now embarking on clinical trials, and hoping to be fast-tracked because our data series is promising.”
Besides, the US listing will also grant the firm a global launch pad for its treatment drug – a cord-lining stem cell topical treatment with a high safety margin – whose approval can be fast tracked by the US Food and Drug Administration (USFDA).
Additionally, CellResearch Corp said the IPO proceeds can also be used to fund the development of new strategies to exploit cord-lining stem cells.
Founded in 2002, CellResearch Corp was set up by a team of scientists with keen interest in cell biology, led by chief scientific officer Phan Toan Tang.
The team discovered that the lining of umbilical cords contains two types of stem cells: the epithelial stem cells which are vital to skin and tissue-lining regeneration and the mesenchymal stem cells that are key to the bone and solid organ repair.
Using these stem cells, the company work on extracting its regenerative application to find ways in treating hard-to-heal wounds. These methods have been patented in strategic jurisdictions worldwide and are proprietary to the company.
Since its inception, the company has accumulated 41 patents and the technology to bank these stem cells. The patents have also been used to enhance research collaboration with groups in Singapore and the United States.
CellResearch Corp’s chief medical officer Ivor Lim said, “We have seen a potential in wound care, especially in burns. But it is the slow-healing wounds that are the most expensive in terms of time and money.”
“The patient will need regular care in a medical facility and be treated by a doctor and nurses at each instance, in addition to which someone needs to take time off work to accompany him to the hospital and back.”
CellResearch Corp owns two subsidiaries including Calecim Cosmeceuticals, which offers a proprietary formulation for skincare, and CordLabs which licenses cord-lining stem cell banking technology to cord blood and tissue banks.