When Animal Cell Therapies was created, the company partnered with a select group of researchers, scientists and collaborators from the U.S. and abroad to create an in-house program to grow and expand well-characterized animal stem cells in a scientific setting. The company's founder, Dr. Kathryn Petrucci, recognized that in order to provide pure, potent, reliable, pathogen-free animal stem cells, ACT must optimize stem cell storage while improving stem cell transportation procedures and delivery techniques.
"This valuation essentially validates that the foundation we've set for this company -- in the creation and maintaining of this stem cell inventory -- is sound and will support the next steps in our strategy," said Adam Irving, chief executive officer of Animal Cell Therapies. "Our capabilities are far reaching with broad applications."
In maintaining its stem cell inventory, Animal Cell Therapies conducts specific cell assays, characterization processes and procedures to assess potential toxicity and consistently assure safety, purity, potency and a stable finished stem cell product or stem cell derivative. In addition, Animal Cell Therapies monitors processes with standardized, rigorous quality control specifications and testing parameters.