LOS ANGELES, CA--(Marketwired - Nov 7, 2016) - Endonovo Therapeutics, Inc. (
Endonovo's Cytotronics™ platform uses bioelectronics to control and enhance cell functions, allowing 3D intelligent cell cultures to be implemented in growing and enhancing stem cells and tissues for the development of cell therapies, disease modeling, ADME (absorption, distribution, metabolism, and excretion) and toxicology testing. The Company's Cytotronics™ platform, which uses Time Varying Electromagnetic Field (TVEMF) technology, has already demonstrated great promise in growing and maintaining cells and tissues for 180 days in culture, as well as producing growth factors and cytokines. Endonovo's technology was able to expand blood forming stem cells (CD34+38- cells) over 80 fold and expand human mesenchymal stem cells over 100 fold in as few as 6 days.
The global in-vitro toxicology testing market was valued at $20.2 billion in 2014 with forecasts projecting it reaching a value of $44.7 billion by 2020, growing at an estimated CAGR of 10.5% from 2015 to 2022, according to Grand View Research. The increase in demand for in-vitro toxicology testing is attributable to novel and promising technologies in analytical laboratories, such as organ-on-a-chip technologies and bioinformatics.
"Right now a Phase I trial can cost roughly $15 million and take several years to complete," stated Endonovo CEO, Alan Collier. "Topping that off, only 10 percent of drugs entering Phase I trials actually make it to market translating into large financial losses for the pharmaceutical industry."
"This problem is not isolated to early clinical trials; numerous drugs have been withdrawn from the market with over 40 percent of marketing candidate drugs being terminated as a result of unexpected toxic effects, particularly in the liver."
Mr. Collier continued, "The inability testing drugs early on in the drug development process for their potential toxic effects coupled with the ineffectiveness of animal models mimicking human drug toxicity remains a huge bottleneck for the pharmaceutical industry in a time where development costs of a new drug exceeds $2.5 billion."
"We are developing our Cytotronics platform to be a high fidelity system enabling drugs and cosmetic products to be tested for their ADME and toxicity. Our ultimate goal focuses on lowering drug development costs while increasing the safety and effectiveness of drugs by allowing certain diseases to be modeled in the lab," concluded Endonovo CEO, Alan Collier.
About Endonovo Therapeutics
Endonovo Therapeutics, Inc. is a leading developer of bioelectronic-applications in cell therapies and non-invasive electroceuticals. Endonovo's Immunotronics™ platform is dedicated to treating patients with life-threatening inflammatory conditions, such as acute liver injury and fulminant hepatic failure, using proprietary non-invasive electroceutical devices. The Company's non-invasive platform is based on magnetically-induced electrical field pathways that target inflammation and cell death.
The Company's Cytotronics™ platform harnesses the bulk electrical properties of cells and tissues, namely magnetically-induced electrical field pathways to expand and enhance the therapeutic potential of cell therapies and produce next-generation biologics.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
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Investor Relations Contact: Endonovo Therapeutics, Inc. Mr. Steven Barnes Senior Vice President of Investor Relations (800) 701-1223, Ext. 108 Sbarnes@endonovo.com www.endonovo.com
