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Investor Relations
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Vitro Launches Products to Support Stem Cell Research and Drug Development
Golden, Colorado—May 19, 2009—Vitro Diagnostics, Inc. (OTCBB: VODG), dba Vitro Biopharma, announced the commercial availability of specialized products to support stem cell research and drug development. This new product line called, “Tools for Stem Cell and Drug Development™” features novel products to support research involving mesenchymal stem cells (MSCs), induced pluripotent stem cells (iPS) and cancer research that specifically utilizes stem cells that preferentially migrate to cancer cells and facilitate their destruction. Vitro Diagnostic’s newly revised website, www.vitrobiopharma.com, details our new products. The current total market for stem cell research tools is estimated to be about $900 million and is projected to expand at 10 to 20% per year in the near future.
This initial product line includes mesenchymal stem cells (MSC), specifically labeled MSC to facilitate studies of implantation in animals, migration to certain targets and differentiation into specific cell types. Stem cell therapy has the potential to revolutionize treatment of many difficult–to-treat diseases. Scientists can provide stem cell therapies through targeted R&D, clinical trials and regulatory studies that may eventually lead to market approval. Vitro currently owns stem cell-based proprietary technology for treatment of cancer and diabetes. Vitro is now also providing needed stem cell and drug development tools to the medical research community. Vitro’s new development tools provide vital components to advance all stem cell research and drug development. These products are classified as Type I Medical Devices meaning that all usage is non-therapeutic and therefore do not require FDA pre-market approval.
Gaining additional knowledge and understanding of stem cell properties including growth without differentiation (self-renewal), differentiation capacity and steps necessary to induce differentiation will require the tools now being provided by Vitro. Stimulus package funding and lifting of governmental restrictions on embryonic stem cell research has created tremendous opportunity in the stem cell field within the United States. After years of regulatory obstacles, the US can now flex its scientific muscle to compete with research presently active in several other countries currently exploring the wide-ranging therapeutic benefit of stem cell technology. Vitro’s new products can enhance all of this research. Drug discovery and development will benefit from stem cell technology advances that provide specific human stem cell-derived systems such as cardiac muscle. These new cellular systems will provide more accurate and definitive preclinical toxicity and discovery programs aimed at decreasing drug development costs and increasing reliability of toxicity testing through early detection of potential safety issues.
The recently developed technique of reprogramming adult cells into induced pluripotent stem cells (iPS) should provide the benefits of embryonic stem cells without the sacrifice of embryos. Current methods of iPS generation utilize genetic engineering with foreign DNA sequences to convert certain adult cells to iPS cells, thus adding considerable safety risks. Vitro’s new well-defined human stem cell tools are intended to facilitate a less invasive break-through iPS generation method that will not use foreign DNA, thus eliminating a major safety risk of the current methodology.
Vitro provides in-depth technical service and is developing additional products including defined, serum-free stem cell culture media, tools to assess stem cell signaling events, and cells differentiated from stem cells for arthritis, kidney and heart disease research. These differentiated cells may also have application to drug discovery and development as well.
About Vitro Diagnostics, Inc.
Vitro Diagnostics, Inc. dba Vitro Biopharma (OTCBB: VODG; http://www.vitrobiopharma.com) is committed to “Harnessing the Power of Cells”. Vitro owns US patents for production of the fertility drug, FSH, immortalization of cells, and adult stem cells. The Company also owns a pending US patent regarding stem cell-based cancer treatments. Vitro recently established a new high tech and regulatory compliant manufacturing, R&D and corporate facility in Golden, Colorado. The current focus is commercialization of “Tools for Stem Cell and Drug Development™”. In addition, Vitro’s stem cell technology has shown promise for development of stem cell therapy for diabetes and cancer.
Safe Harbor Statement
Certain statements contained herein and subsequent oral statements made by and on behalf of the Company may contain “forward looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward looking statements are identified by words such as “intends,” “anticipates,” “believes,” “expects” and “hopes” and include, without limitation, statements regarding the Company’s plan of business operations, product research and development activities, potential contractual arrangements, receipt of working capital, anticipated revenues and related expenditures. Factors that could cause actual results to differ materially include, among others, acceptability of the Company’s products in the market place, general economic conditions, receipt of additional working capital, the overall state of the biotechnology industry and other factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended October 31, 2008 under the caption, “Risk Factors” and subsequent SEC filings. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking statements. Except as otherwise required by applicable securities statutes or regulations, the Company disclaims any intent or obligation to update publicly these forward looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Dr. James Musick
Chief Executive Officer
Vitro Diagnostics, Inc.
(303) 999-2130 Ext. 3
E-mail: jim@vitrobiopharma.com
Source: Vitro Diagnostics, Inc.