CHICAGO, July 29, 2015 /PRNewswire/ -- AmnioChor Inc., an early stage biotech startup based on perinatal stem cell technology, is very pleased to announce that the Musculoskeletal Transplant Foundation of Edison NJ has agreed to invest in their seed round of development of the proprietary AmnioCept™ product line and OmniBank placental tissue storage capabilities.
AmnioChor's technology allows cryopreservation of the amniotic membrane of the placenta, and the human stem cells living within those tissues. Amnion is a well-established source of multipotent stem cells used in a large variety of treatment modalities. Studies underlying AmnioChor's technologies were performed by Dale Woodbury, PhD and Akiva Marcus, MD, PhD at the Ira B. Black Center for Stem Cell Research and the Department of Neuroscience and Cell Biology at Robert Wood Johnson Medical School, now part of Rutgers University. AmnioChor has an exclusive license for this technology. AmnioChor's products are intended to augment umbilical cord blood, and will additionally contain Epithelial and Mesenchymal stem cells ("Amnion-Derived Stem Cells (ADSC's)") that may be used in ground-breaking technologies including 3-D printing of human organs. These cells will be banked in AmnioChor's OmniBank and made available either for individual patients who choose to bank their own cells as well as donated cells that will be matched to patients in the community. Russ Schweizer, CEO of AmnioChor, said, "We believe that AmnioChor's breakthrough technologies will provide significant benefits to Regenerative Medicine and the burgeoning Cellular Therapy Industry, and will ultimately save patient's lives. The investment made by MTF will allow us to continue our research and development activities. We are proud to be affiliated with an organization like MTF that has a multi-decade history of providing life-changing donated human tissues."
Bruce Stroever, President and CEO of MTF, said, "MTF has been involved with placental tissue recovery and the provision of amniotic tissues for several years. We believe that AmnioChor has technologies that may help us to continue to provide the highest quality amniotic tissues. We are equally pleased to have the opportunity to support technologies developed by the medical school in our own state – Rutgers University."
About the Musculoskeletal Transplant Foundation
The Musculoskeletal Transplant Foundation, a non-profit organization based in Edison, NJ, is a national consortium comprised of leading organ procurement organizations, tissue recovery organizations and academic medical institutions. Since its inception in 1987, MTF has received tissue from more than 100,000 donors and distributed more than 6 million grafts for transplantation. For more information, visit www.mtf.org
AmnioChor expanded its executive offices early this year to become a founding member of the new MATTER Chicago www.MATTERChicago.com healthcare incubator group, and continues to seek investors and strategic partners in the US and globally.
For more information go to www.amniochor.com/contact or call 312-351-0520 and follow AmnioChor on Twitter @AmnioChor
SOURCE AmnioChor Inc.