Business
BioRestorative Therapies Enters into Supply Agreement with Evolutionary Biologics
--BioRestorative to Leverage its Core Competencies in Cell Biology and Manufacturing to Supply Biologics for Cosmetic Applications in Strategic Agreement
About this update from Biorestorative Therapies, Inc.
[{"type":"text","content":"--BioRestorative to Leverage its Core Competencies in Cell Biology and Manufacturing to Supply Biologics for Cosmetic Applications in Strategic Agreement --Agreement Represents Initial Venture into the $62.8 Billion Global Aesthetics Market --Initial Order of 5,000 Vials of Product Represents Controlled Launch and Will Have Positive Financial Impact MELVILLE, N.Y., Sept. 12, 2023 (GLOBE NEWSWIRE) -- BioRestorative Therapies, Inc . (“BioRestorative”, “BRTX” or the “Company”) (NASDAQ: BRTX ), a clinical stage company focused on stem cell-based therapies, today announced that it has entered into a supply agreement with Evolutionary Biologics, a supplier of biologic-based cosmetics. Pursuant to the supply agreement, BioRestorative, using its cGMP ISO-7 certified clean room, will manufacture tissue-based biologics for Evolutionary Biologics for cosmetic and aesthetic applications. The first-generation product, that has been formulated and manufactured, is an umbilical cord tissue extract that is highly enriched with factors that address the signs of aging. These factors include cytokines, chemokines, growth factors and exosomes, which are known to play important roles as communication mediators between cells and have been found to have certain anti-aging effects on skin. Founded in 2020 by former L'Oreal President, Jim Morrison, Evolutionary Biologics is a supplier of cosmetic-focused biologics for plastic surgeons, dermatologists and medical spas across the United States. With the Company’s expanded manufacturing capabilities, BioRestorative is able to support research and development of biologics from various aspects, especially for exosome manufacturing, engineering, quality control and potential therapeutic applications. “This is a very exciting time for BioRestorative Therapies as we seek to develop our recent strategic partnerships. Leveraging our ISO-7 certified clean room to formulate and manufacture a commercial product in the $62.8 billion global aesthetics market is not only a thrilling opportunity but it allows us to scale and drive efficiencies going forward as we seek to expand our commercial business model. By no means does this venture disrupt or diminish our clinical stage platforms; rather it helps to provide additional resources and financial support to these ongoing programs. If our initial order is received well ...