Adalvo is delighted to announce that our partner, CellResearch Corporation (CRC), has been awarded an Innovation Passport for CorLiCyte™, by the UK’s regulatory agencies (MHRA, NICE, SMC), becoming one of only around 20 companies to receive the designation so far. This award will facilitate accelerated access to CorLiCyte™ for patients in the UK.
CorLiCyte™ is a novel biologic treatment platform, based on umbilical cord stem cell research, which is currently being investigated for the treatment of chronic Diabetic Foot Ulcers (DFUs). This condition affects more than 30 million people globally and have a 50% mortality rate over 5 years. The wound care treatment market is expected to reach $24 Billion by 2024, according to Markets & Markets.
Chief Executive Officer Gavin Tan says “We are delighted with this development – it is an important step closer to treating patients with this serious and debilitating disease. This is, I believe, the first Innovation Passport granted to an asset born in Singapore and helps strengthen our country’s position as a leader in biotechnology on the global stage”.
“Umbilical cord lining technology is exciting because its applications range from chronic diabetic foot ulcers to other difficult to heal wounds such as venous ulcers and burns. There is also the promise of future treatments for further diseases such as lupus, age related macular degeneration and other auto-immune conditions” says Chief Scientific Officer Dr Phan Toan Thang.
Anil Okay, General Manager at Adalvo, says “we are thrilled to be partnering with CRC in this development. CorLiCyte™ is a unique, state of the art asset and we are very excited about the news on fast track approval, which will expedite patient access to this valuable product".
CRC has already had great success with the commercialization of its cosmetic brand CALECIM®️ Professional which is leveraging the same stem cell technology (derived from the umbilical cord lining) to treat the visible signs of aging. This product is already sold in over 600 premium aesthetic clinics and online via the company’s own website. However, this is the first time the drug, CorLiCyte™ has been granted access to an fast track pathway by a regulator in a major market and is an exciting next step for the company. CRC will seek similar designations in the EU with PRIME and in the US with RMAT in the coming months.