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Recently, I wrote about Osiris
, the American stem cell (adult) company that had a couple products on the way to the market. Their product- Prochymal is in Phase III of clinical trials in the United States to treat Crohn's Disease and Graft Vs Host Disease. Prochymal can also apparently be used to treat Diabetes 1 and COPD, although not as far along as for Crohn's and GVHD.
Well, looks like Osiris struck it rich
and they definitely deserve it for all their perseverance and hard work and money they have put in. Genzyme is paying Osiris $130 million up front for the rights to sell Prochymal outside the United States and Canada in a deal that could be worth up to $1.25 Billion.
C. Randal Mills, who despite missing a first name still has become the CEO of Osiris said " This new arrangement really is about the fact that [Prochymal] we think is really a lifesaving drug," Mills said. "I'll visit little children we treat in hospitals, see a kid on a ventilator, skin peeling, intensive hemorrhaging, and three weeks later the kid's walking around the room and eating."
And the fact that this same drug can be used to treat not only GVHD, but also Crohn's and seemingly COPD and Diabetes is amazing as well. I would be willing to bet that it is not limited to these 4 diseases
You did good C. Looks like the world's first successful stem cell company is an ADULT
stem cell company- go figure.