Sacred Cells Research Partners (SCRP) signed an agreement covering a technology merger with Vivo Biosciences (VBI). The joint business will maintain an R&D facility in Birmingham, Alabama, and plans to expand a CLIA/diagnostic operation in San Antonio, Texas.
“This joint venture will enable the advancement of VBI oncology technologies and stem cell therapies across the world,” said SCPR CEO, Roman Reed, who has worked closely with VBI since 2013 and helped raise over $100 million funds for stem cell research in the United States. “With a focus on emerging medical technologies through our combined extensive networks, consumer branded products experience, vast retail and distribution knowledge as well as our financial and international strength, VBI will aggressively support research projects for new biomedical applications and devices. VBI expects to launch its first products as part of SCRP in early fall 2015.”
Additionally, as part of this technology merger, SCRP intends to form a new division of VBI called VivoStem, based in California. VivoStem will combine proprietary stem cells that SCRP has licensed from third parties with VBI’s HuBiogel™ technology to develop new cell-based therapeutics in the areas of wound healing, sports injury, neurologic repair, cardiovascular disease, diabetes, and oncology. VBI anticipates VivoStem to be operational in early 2015.
“This strategic transaction represents a turning point for VBI as it confers upon us the network, the expertise, and the financial strength to compete worldwide with major players in the biotech industry,” said SCRP’s vp, Tory Williams. “This new partnership with VBI will enable us to achieve our strategic plan, and we are particularly pleased that the inventor of VBI’s proprietary technology, Dr. Raj Singh, as well as our marketing and distribution partners WellPace Medical will retain a significant interest in this joint venture.
“Our company is now well positioned to advance stem cell research toward better treatments and cures for chronic disease and injury.”