{"id":128531,"date":"2013-06-09T02:58:02","date_gmt":"2013-06-09T06:58:02","guid":{"rendered":"http:\/\/www.longevitymedicine.tv\/cellular-dynamics-california-stem-cell-agency-recipient-plans-57-million-ipo\/"},"modified":"2024-08-17T20:30:01","modified_gmt":"2024-08-18T00:30:01","slug":"cellular-dynamics-california-stem-cell-agency-recipient-plans-57-million-ipo-2","status":"publish","type":"post","link":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/stem-cell-therapy\/cellular-dynamics-california-stem-cell-agency-recipient-plans-57-million-ipo-2.php","title":{"rendered":"Cellular Dynamics: California Stem Cell Agency Recipient Plans $57 Million IPO"},"content":{"rendered":"
A Wisconsin firm that is the
beneficiary of more than $16 million from the California stem cell
agency today announced that it intends to go public to raise $57.3
million for its iPS cell ventures.<\/div>
<\/div>
<\/a><\/td><\/tr>
Jamie Thomson
UCSB photo<\/td><\/tr><\/tbody><\/table>
The firm is Cellular Dynamics
International, Inc.<\/b>, and was co-founded by internationally known stem
cell scientist Jamie Thomson<\/b> of the University of Wisconsin,<\/b> who is
currently the company's chief scientific officer. Thomson is also a professor
at UC Santa Barbara,<\/b> where he is co-director<\/a> of the Center for Stem
Cell Biology and Engineering.<\/b><\/div>
<\/div>
In March, the California stem cell
agency awarded a $16 million grant to Cellular Dynamics to derive
three iPS cell lines from 3,000 individuals as part of the agency's
stem cell banking initiative. (Here is a link to the grant review summary<\/a>.)<\/div>
<\/div>
The company said in its SEC
filings that it also will be the prime subcontractor on a $10 million
grant that the Coriell Institute for Medical Research <\/a>of Camden,
N.J., received in the agency's stem cell banking round. Cellular Dynamics said
some of the funds from the IPO will be used to complete its
California laboratory in leased space <\/a>at the Buck Institute<\/b> in
Novato, north of San Francisco.<\/div>
<\/div>
Cellular Dynamics was founded in 2004
and sold its first commercial product in 2010. It reported revenues
of $6.6 million in 2012 and losses of $22.3 million. It has 115
full-time and part-time employees worldwide.<\/div>
<\/div>
The company said,<\/div>

“During 2011 and 2012, we had three
large biopharmaceutical customers that individually accounted for
greater than 10% of our total revenue in one or both years. Eli Lilly
and Company (Lilly)<\/b> accounted for 10% of total revenue in 2011 and
18% of total revenue in 2012. Hoffmann-La Roche Inc. (Roche)
<\/b>accounted for 13% of total revenue in 2011 and GlaxoSmithKline plc
(GSK)<\/b> accounted for 11% of our total revenue in 2012.”<\/p><\/blockquote>

Cellular Dynamics also said in its
filings,<\/div>

“Our total revenue grew from $2.6
million in 2011 to $6.6 million in 2012, an increase of 154%. This
growth was driven by a 247% increase in sales of our iCell products
which grew from $1.5 million in 2011 to $5.2 million in 2012. At
December 31, 2011, our backlog of revenue expected to be recognized
in 2012 was $1.1 million. At December 31, 2012, our backlog of
revenue expected to be recognized in 2013 had grown to $4.1 million.<\/p><\/blockquote>

“For the three months ended March 31,
2013 our total revenue was $2.4 million, an increase of 109% over the
corresponding period in 2012. This growth was driven primarily by an
increase in iCell product sales, which grew from $0.6 million for the
three months ended March 31, 2012 to $1.8 million for the three
months ended March 31, 2013, an increase of 173%.”<\/p><\/blockquote>

Paul Knoepfler<\/b> of UC Davis<\/b>, writing on his blog<\/a>, touched on some of the aspects of the IP issues involving
Cellular Dynamics and  Japanese researcher Shinya Yamanaka, <\/b>who won the Nobel Prize last year for discovering how to reprogram adult stem cells into pluripotent cells (the iPS process).<\/div>
<\/div>
 Knoepfler wrote,<\/div>

\"A
recent question is the issue of who has the intellectual property
(IP) rights to iPS cell technology.<\/a> People have told me in the
past that they wondered if Cellular Dynamics has unambiguous rights
to develop all of these iPS cell-based products.\"<\/p><\/blockquote>

Knoepfler also wrote,<\/div>

 “This (the IPO) looks to
be very interesting and could transform the field as it develops.”<\/p><\/blockquote>

News coverage today of the IPO filing
was light, but is more expected to surface tomorrow. Here is a link to the only story<\/a> that had surfaced as of this writing. <\/div>

<\/p>

No price or date has yet been set for
the offering.<\/div>

Source:
http:\/\/feedproxy.google.com\/~r\/blogspot\/uqpFc\/~3\/0oup8hU2FGE\/cellular-dynamics-california-stem-cell.html<\/a><\/p>","protected":false},"excerpt":{"rendered":"

A Wisconsin firm that is thebeneficiary of more than $16 million from the California stem cellagency today announced that it intends to go public to raise $57.3million for its iPS cell ventures.Jamie ThomsonUCSB photoThe firm is Cellular DynamicsInternational, Inc., and … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":64,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"limit_modified_date":"","last_modified_date":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25,1246878],"tags":[],"class_list":["post-128531","post","type-post","status-publish","format-standard","hentry","category-stem-cell-therapy","category-stem-cells"],"modified_by":null,"_links":{"self":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/128531"}],"collection":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/users\/64"}],"replies":[{"embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/comments?post=128531"}],"version-history":[{"count":0,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/posts\/128531\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/media?parent=128531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/categories?post=128531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.euvolution.com\/futurist-transhuman-news-blog\/wp-json\/wp\/v2\/tags?post=128531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}