Business
Satellos Bioscience Reports Third Quarter 2021 Financial Results and Operational Highlights
Satellos positioned to pursue the development of first-in-class regenerative therapeutic tre...
About this update from Satellos Bioscience Inc
[{"type":"text","content":"Satellos Bioscience Reports Third Quarter 2021 Financial Results and Operational HighlightsSatellos positioned to pursue the development of first-in-class regenerative therapeutic treatments for degenerative muscle diseases.Toronto, Ontario--(Newsfile Corp. - November 29, 2021) - Satellos Bioscience Inc. (TSXV: MSCL) (\"Satellos\" or the \"Company\"), a regenerative medicine company, formerly known as iCo Therapeutics Inc. (\"iCo\"), aimed at developing therapeutics that change the way degenerative muscle diseases are treated, announced today its financial results and operational highlights for the quarter ended September 30, 2021. All dollar amounts are expressed in Canadian currency unless otherwise noted.\"We are excited to be trading on the TSXV through our combination with the former iCo, a move we made with the objective of accelerating our development and value creation plans,\" said Frank Gleeson, co-founder, President and Chief Executive Officer of Satellos. \"Our scientists have made ground-breaking discoveries with the potential to change the way we understand and treat degenerative muscle diseases. Our aim is to exploit this knowledge to invent and develop first-in-class therapeutic candidates that act by modulating the body's innate muscle stem cells to regenerate damaged or lost muscle tissue. We are not aware of any other company focused on restoring the regenerative capacity of muscle stem cells as a therapeutic strategy for treating muscle loss. We believe our therapeutic approach has the potential to make lifechanging differences to patients living with devastating muscle conditions spanning rare genetic diseases, injury induced damage, and the pervasive muscle loss of ageing.\"Dr. Michael Rudnicki, PhD, OC, FRS, co-founder and Chief Scientific Officer of Satellos added, \"Satellos' therapeutic approach is based on discoveries our academic lab has made, over a twenty-year period, in characterizing muscle stem cells and mapping the regulatory mechanisms by which they make regeneration possible throughout a person's life. From these findings, we made the seminal discovery that a signal transduction error in these mechanisms is central to the progressive muscle loss seen in Duchenne muscular dystrophy, a lethal genetic disorder. Satellos' lead program is focused on developing therapeutic drugs which have the poten...