By Business Wirevia The Motley Fool
Filed under: Investing
Fibrocell Science Reports 2012 Results
Major Equity Funding, New Collaboration and Pursuit of Medical Indications Set Stage for Unlocking Potential of Company’s Core Fibroblast Technology
EXTON, Pa.–(BUSINESS WIRE)– Fibrocell Science, Inc. (OTCBB: FCSC) reportedits financial and operating results for the year ended December 31, 2012.
“2012 has been a pivotal year for Fibrocell,” said David Pernock, Fibrocell Chairman and Chief Executive Officer. In 2012, Fibrocell launched, LAVIV® (azficel-T), an autologous fibroblast cell product indicated for improving the appearance of smile-line wrinkles and the company’s first FDA-approved product. LAVIV has been in the market on a limited basis for the past year and the response from physicians and their patients has been positive. As one of only eight cell-based products approved by the U.S. Food and Drug Administration (FDA), LAVIV is the first and only approved for aesthetic use and is the only one that utilizes the patient’s own fibroblast cells.
Fibrocell is now working to develop a deep and meaningful pipeline of premium, first-in-class products based on its autologous fibroblast technology. To that end, the company has embarked on a collaboration with Intrexon Corporation that will focus on rare genetic collagen deficiencies. The Company also plans to initiate multiple Phase II clinical programs in restrictive burn scars and in vocal cord scars in 2013.
“2012 was clearly a watershed year for Fibrocell. We established the viability of our core fibroblast technology with LAVIV® and are working to unlock its potential in medical and aesthetic areas with significant unmet need,” said Mr. Pernock “Having successfully raised more than $40 million in new capital, we can now pursue additional indications for our autologous fibroblasts in areas with a significant and unmet medical need such as restrictive burn scars, vocal cord scars, and recessive dystrophic epidermolysis bullosa (RDEB). Fibrocell is at and will remain at the leading edge of personalized regenerative medicine. In the coming weeks we intend to provide detail on these activities and others.”
LAVIV ® Highlights
LAVIV continues to receive favorable recognition in national beauty and fashion magazines. It has also received numerous awards for innovation, including recognition in the 12th Annual Wall Street Journal Technology Innovation Awards program.
Commercially, 2012 was devoted to introductory marketing of LAVIV and to helping …read more
Source: FULL ARTICLE at DailyFinance
