BioE®, Inc., and Phillips Plastics Corp.®, announced today they entered into a collaborative agreement to develop and commercialize stem cell therapeutics for orthopedic applications.
These stem cell therapeutics will consist of BioE’s highly functional proprietary Multi-Lineage Progenitor Cell™ (MLPC™) stem cell derived from human umbilical cord blood and Phillips Plastics’ patented and proprietary growth structures. In early development studies, the MLPC has differentiated into bone (osteoblasts) and cartilage (chondrocytes) progenitor cells, along with numerous other cell and tissue precursors. Phillips Plastics is developing custom structures to enhance the growth of these cells from the MLPC.
Orthopedic conditions affect upwards of 75 million Americans annually, making it one of the largest and rapidly growing sectors of U.S. medicine. According to industry analysts, the specific stem cell market for orthopedic applications could exceed $3 billion within the next 10 years, from less than $100 million today.