Throughout the COVID-19 pandemic, the team at Personalized Stem Cells has been working hard to continue manufacturing stem cell doses for current and potential clinical trial participants. While economies all over the world are affected by the pandemic, we are fortunate enough to maintain all of our employees and are actually hiring for additional positions. In addition, we are expanding our manufacturing cleanroom facilities.
Stem Cells for COVID-19
One of our major endeavors in the past few months has been manufacturing human stem cells for the treatment of COVID-19. Recent studies have shown that cell therapy may be a promising treatment option for COVID-19 patients. As you may know, we filed an IND with the FDA to conduct a clinical trial to evaluate the effects of stem cell therapy on COVID-19 patients. We have spent the past several months ramping up our manufacturing to provide stem cell doses for potential clinical trial participants.
Updates on PSC’s Knee OA Trial
Our current clinical trial to study the effects of stem cells for the treatment of knee osteoarthritis is still underway. As you may imagine, aspects of the trial were halted or delayed when the pandemic initially hit the United States. Many non-essential procedures were postponed, and several doctors instituted telemedicine, rather than in-person visits. Telemedicine allowed our clinical trial investigators to continue to monitor the clinical trial participants however new patient enrollment was put on hold. Fortunately, in May, enrollment re-opened and the trial has moved forward. We are targeting to be fully enrolled by the end of July 2020, which would allow us to compile and submit study data to the FDA by the end of the year.
Series A Financing
In the first and second quarters of 2020, PSC secured $2.5 million in a Series A round of financing led by seed investors and key opinion leaders in the field. These additional funds will enable PSC to complete current clinical trials and conduct future clinical trials. Our current plans for future clinical trials include back pain and traumatic brain injury. We believe the ability to secure funding during these uncertain times demonstrates the strong belief in the power of regenerative medicine and in the PSC business model to deliver this critical therapy to patients.
PSC Video Tour
Another item worth noting is our recently completed corporate video tour. Prior to the pandemic, PSC offered in-person tours of our facilities to interested doctors, potential investors, potential clinical trial participants, and anyone who was interested in a behind-the-scenes look at what PSC is all about. When the pandemic hit, travel restrictions and social distancing guidelines prevented us from offering in-person tours however we created a video tour! For an inside look at PSC, watch our new video here.