American CryoStem Corp., an Eatontown developer of tissue-based cellular technologies, has formed a new business unit, Autogenesis Corp., in collaboration with Protein Genomics in order to develop wound-healing products and other cellular therapies.
Autogenesis will research and develop new products and technologies that combine American CryoStem’s cell media cultures, called ATcells and ACSelerate, with Protein Genomics’ human-based protein materials, called Elastatropin, that treat skin.
Autogenesis will based at Eatontown headquarters of American CryoStem, which develops products for the regenerative and personalized medicine industries. The new unit will be owned 50-50 by the companies.
“Based on Protein Genomics' and American CryoStem’s collective research and development efforts to date, we believe that our work could lead to a significant body of new intellectual property and a whole host of promising new applications in the field of regenerative medicine,” Protein Genomics CEO Burt Ensley said in a statement today.
American CryoStem CEO John Arnone said Autogenisis would provide an effective vehicle to accces funding to support the unit’s next phase of clinical development work and related collaborations with university and private reserach facilites. Arnone added that the unit will enhance shareholder value “while widening the scope of opportunities for us to fully optimize our intellectual property, core products and laboratory expertise.”
The unit will use laboratories belonging to American CryoStem in Mount Laurel and Protein Genomics in Flagstaff, Ariz. Autogenesis will retain ownership of intellectual property that results from the combination of ATcells, ACSelerate, and Elastatropin.
Elastatropin, created from human protein, is intended to provide strength and elasticity to skin. It can be used to reduce the onset of wrinkles and as a hair and scalp conditioner, according to Arizona-based Protein Genomics website.