Pharmacyte Biotech Inc (OTCMKTS:PMCB) announced that Eurofins Lancaster Laboratories, a major Contract Manufacturing Organization that company selected to set its Master Cell Bank, has successfully concluded its independent growth assessment of the cells that company will utilize in its Cell-in-a-Box®-based pancreatic cancer treatment. This is a notable step in setting for company’s pancreatic cancer clinical study.
Commenting on the cell testing, Kenneth L. Waggoner, the CEO of Pharmacyte, expressed that the satisfactory completion of this vital work by Eurofins is positive news. Now the way is open for Eurofins to advance the cells that will be required to populate their Master Cell Bank. They have authorized Eurofins to commence production of the MCB. Once that is done, the MCB will be sent to Austrianova for encapsulation into what will eventually become their clinical trial product.
This important measure in the overall product development procedure has been achieved utilizing the optimal cell culture course, which has only just become available. The growth assessment of the cells is a required pre-step to manufacture the MCB, which is needed to comply with FDA regulations. During the procedure, Eurofins independently validated Austrianova’s choice of cell culture medium for finest cell growth and the growth kinetics of the cells by own. These cells are set to become the engine of the “Cell-in-a-Box®” encapsulated cell offering for the cure of pancreatic cancer.
Prof. Walter H. Günzburg, the CEO of Pharmacyte, expressed that they are delighted to be associated with Eurofins, who has been interactive as well as professional, during this procedure leading up to what will be the product of company’s MCB of the cells that form for the Cell-in-a-Box® encapsulated cell offering for the cure of pancreatic cancer. This initiative certainly paves the course to produce the MCB.
In the last trading session, the stock price of Pharmacyte declined more than 9% to close the day at $0.048.