Tissue Genesis received a combination of equity and royalties under the agreement, and expects in the future to receive revenue from the sales to Vet-Stem of TGI 1000™ cell isolation systems, TGI 1000 disposables and TGI 100™ kits.
"This strategic alliance leverages Tissue Genesis' cell isolation expertise and opens up a new market for its TGI 1000 platform. It is truly a win-win for both companies, and more so for animal owners," said Anton C. Krucky, President and CEO of Tissue Genesis.
"Our agreement empowers Vet-Stem to take their veterinary solutions to a new level, and we are looking forward to working closely with their team as we continue to make strides to find innovative veterinary applications, such as cell-based emergency medicine,” said Krucky.
"Vet-Stem is the world leader in veterinary cell-based therapy and has treated over 3,000 horses and dogs with orthopedic injuries. This automation of our current successful methods will enable us to expand our markets globally," said Dr. Robert Harman, President and CEO of Vet-Stem.
Tissue Genesis expects its cell isolation system to process a small quantity of a patient's own fat tissue to produce large quantities of cells, including adult stem cells and microvascular cells.