Could the Next Blockbuster Drug Be Lab-Rat Free? – The New York Times

In 1937, an American drug company introduced a new elixir to treat strep throat and unwittingly set off a public health disaster. The product, which had not been tested in humans or animals, contained a solvent that turned out to be toxic. More than 100 people died.

The following year, Congress passed the Federal Food, Drug and Cosmetic Safety Act, requiring pharmaceutical companies to submit safety data to the U.S. Food and Drug Administration before selling new medications, helping to usher in an era of animal toxicity testing.

Now, a new chapter in drug development may be beginning. The F.D.A. Modernization Act 2.0, signed into law late last year, allows drug makers to collect initial safety and efficacy data using high-tech new tools, such as bioengineered organs, organs on chips and even computer models, instead of live animals. Congress also allocated $5 million to the F.D.A. to accelerate the development of alternatives to animal testing.

Other agencies and countries are making similar shifts. In 2019, the U.S. Environmental Protection Agency announced that it would reduce, and eventually aim to eliminate, testing on mammals. In 2021, the European Parliament called for a plan to phase out animal testing.

These moves have been driven by a confluence of factors, including evolving views of animals and a desire to make drug development cheaper and faster, experts said. But what is finally making them feasible is the development of sophisticated alternatives to animal testing.

It is still early for these technologies, many of which still need to be refined, standardized and validated before they can be used routinely in drug development. And even advocates for these alternatives acknowledge that animal testing is not likely to disappear anytime soon.

But momentum is building for non-animal approaches, which could ultimately help speed drug development, improve patient outcomes and reduce the burdens borne by lab animals, experts said.

Animals are simply a surrogate for predicting whats going to happen in a human, said Nicole Kleinstreuer, director of the National Toxicology Program Interagency Center for the Evaluation of Alternative Toxicological Methods.

If we can get to a place where we actually have a fully human-relevant model, she added, then we dont need the black box of animals anymore.

Animal rights groups have been lobbying for a reduction in animal testing for decades, and they have found an increasingly receptive public. In a 2022 Gallup poll, 43 percent of Americans said that medical testing on animals was morally wrong, up from 26 percent in 2001.

Reducing animal testing matters to so many people for so many different reasons, said Elizabeth Baker, the director of research policy at the Physicians Committee for Responsible Medicine, a nonprofit group that advocates for alternatives to animal testing. Animal ethics is actually quite a big driver.

But it is not the only one. Animal testing is also time-consuming, expensive and vulnerable to shortages. Drug development, in particular, is rife with failures, and many medications that appear promising in animals do not pan out in humans. Were not 70-kilogram rats, said Dr. Thomas Hartung, who directs the Johns Hopkins Center for Alternatives to Animal Testing.

Moreover, some cutting-edge new treatments are based on biological products, such as antibodies or fragments of DNA, which may have targets that are specific to humans.

Theres a lot of pressure, not just for ethical reasons, but also for these economical reasons and for really closing safety gaps, to adapt to things which are more modern and human relevant, Dr. Hartung said.

(Dr. Hartung is the named inventor on a Johns Hopkins University patent on the production of brain organoids. He receives royalty shares from, and consults for, the company that has licensed the technology.)

In recent years, scientists have developed more sophisticated ways to replicate human physiology in the laboratory.

They have learned how to coax human stem cells to assemble themselves into a small, three-dimensional clump, known as an organoid, that displays some of the same basic traits as a specific human organ, such as a brain, a lung or a kidney.

Scientists can use these mini-organs to study the underpinnings of disease or to test treatments, even on individual patients. In a 2016 study, researchers made mini-guts from cell samples from patients with cystic fibrosis and then used the organoids to predict which patients would respond to new drugs.

Scientists are also using 3-D printers to produce organoids at scale and to print strips of other kinds of human tissue, such as skin.

Another approach relies on organs on a chip. These devices, which are roughly the size of AA batteries, contain tiny channels that can be lined with different kinds of human cells. Researchers can pump drugs through the channels to simulate how they might travel through a particular part of the body.

In one recent study, the biotech company Emulate, which makes organs on chips, used a liver-on-a-chip to screen 27 well-studied drugs. All of the drugs had passed initial animal testing, but some had later turned out to cause liver toxicity in humans. The liver-on-a-chip successfully flagged as many as 87 percent of the toxic compounds, the researchers reported in Communications Medicine last December.

Researchers can also link different systems together, connecting a heart-on-a-chip to a lung-on-a-chip to a liver-on-a-chip, to study how a drug might affect the entire interconnected system. Thats where I think the future lies, Dr. Kleinstreuer said.

Not all the new tools require real cells. There are also computational models that can predict whether a compound with certain chemical characteristics is likely to be toxic, how much of it will reach different organs and how quickly it will be metabolized.

The models can be adjusted to represent different types of patients. For instance, a drug developer could test whether a medication that works in young adults would be safe and effective in older adults, who often have reduced kidney function.

If you can identify the problems as early as possible using a computational model that saves you going down the wrong route with these chemicals, said Judith Madden, an expert on in silico, or computer-based, chemical testing at Liverpool John Moores University. (Dr. Madden is also the editor in chief of the journal Alternatives to Laboratory Animals.)

Some of the approaches have been around for years, but advances in computing technology and artificial intelligence are making them increasingly powerful and sophisticated, Dr. Madden said.

Virtual cells have also shown promise. For instance, researchers can model individual human heart cells using a set of equations that describe everything thats going on in the cell, said Elisa Passini, the program manager for drug development at the National Center for the Replacement, Refinement and Reduction of Animals in Research, or NC3Rs, in Britain.

In a 2017 study, Dr. Passini, then a researcher at the University of Oxford, and her colleagues concluded that these digital cells were better than animal models at predicting whether dozens of known drugs would cause heart problems in humans.

Scientists are now building entire virtual organs, which could eventually be linked together into a sort of virtual human, Dr. Passini added, though some of the work remains in early stages.

In the short term, a virtual lab animal might be more achievable, said Cathy Vickers, the head of innovation at NC3Rs, which is working with scientists and pharmaceutical companies to develop a digital model of a dog that could be used for drug toxicity testing.

Its still a big push to develop a virtual dog, Dr. Vickers said. But its about building that capacity, building that momentum.

Many potential animal alternatives will require more investment and development before they can be used widely, experts said. They also have limitations of their own. Computer models, for instance, are only as good as the data they are built on, and more data is available on certain types of compounds, cells and outcomes than others.

For now, these alternative methods are better at predicting relatively simple, short-term outcomes, such as acute toxicity, than complicated, long-term ones, such as whether a chemical might increase the risk of cancer when used over months or years, scientists said.

And experts disagreed on the extent to which these alternative approaches might replace animal models. Were absolutely working toward a future where we want to be able to fully replace them, Dr. Kleinstreuer said, although she acknowledged that it might take decades, if not centuries.

But others said that these technologies should be viewed as a supplement to, rather than a replacement for, animal testing. Drugs that prove promising in organoids or computer models should still be tested in animals, said Matthew Bailey, president of the National Association for Biomedical Research, a nonprofit group that advocates for the responsible use of animals in research.

Researchers still need to be able to see everything that happens in a complex mammalian organism before being allowed to move to the human clinical trials, he said.

Still, even this more conservative approach could have benefits, said Nicole zur Nieden, a developmental toxicologist at the University of California, Riverside, who said that she thought the wholesale replacement of animal testing was unrealistic.

In particular, she said, the new approaches could help scientists screen out a greater number of ineffective and unsafe compounds before they ever get to animal trials. That would reduce the number of animal studies researchers need to conduct and the limit the chemicals lab animals are exposed to, she said, adding, We will be able to reduce the suffering of test animals quite tremendously.

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Could the Next Blockbuster Drug Be Lab-Rat Free? - The New York Times

HISTOGEN INC. Management’s Discussion and Analysis of Financial Condition and Results of Operations. (form 10-K) – Marketscreener.com

The following discussion and analysis of our financial condition and results ofoperations should be read in conjunction with our audited consolidated financialstatements and related notes thereto included elsewhere in this Annual Report onForm 10-K for the period ended December 31, 2022. As further described in Note1of the notes to our consolidated financial statements included elsewhere inthis Annual Report, Private Histogen was determined to be the accountingacquirer in the Merger. In addition, references to the Company's operatingresults prior to the Merger will refer to the operating results of PrivateHistogen. Except as otherwise indicated herein or as the context otherwiserequires, references in this Annual Report on Form 10-K to "Histogen" "theCompany," "we," "us" and "our" refer to Histogen Inc., a Delaware corporation,on a post-Merger basis, and the term "Private Histogen" refers to the businessof privately-held Histogen Inc. prior to completion of the Merger. The followingdiscussion and analysis of our financial condition and results of operationscontains forward-looking statements that involve a number of risks,uncertainties and assumptions. Actual events or results may differ materiallyfrom our expectations. Important factors that could cause actual results todiffer materially from those stated or implied by our forward-looking statementsinclude, but are not limited to, those set forth in the "Risk Factors" sectionof this annual report, many of which are outside of our control. Allforward-looking statements included in this annual report are based oninformation available to us as of the time we file and, except as required bylaw, we undertake no obligation to update publicly or revise any forward-lookingstatements.

Overview

We are clinical-stage therapeutics company focused on developing potentialfirst-in-class clinical and preclinical small molecule pan-caspase and caspaseselective inhibitors that protect the body's natural process to restore immunefunction. Our product candidates include emricasan, CTS-2090 and CTS-2096.Currently, we are developing emricasan for acute bacterial skin and skinstructure infections (ABSSSI) as well evaluating its use for other infectiousdiseases. Our pipeline also includes novel preclinical product candidatesincluding CTS-2090 and CTS-2096, which are highly selective small moleculeinhibitors of caspase-1 designed for the treatment of certain inflammatorydiseases.

Previously, our focus was on developing our proprietary hypoxia-generated growthfactor technology platform and stem cell-free biologic products as potentialfirst-in-class restorative therapeutics that ignite the body's natural processto repair and maintain healthy biological function. In December 2022, weannounced termination of our HST-003 study for futility related to patientrecruitment and due to pipeline reprioritization, in the third quarter of 2022,we suspended all IND enabling activities on our HST-004 program.

While we are actively seeking collaboration partners or acquirors for our HumanMultipotent Cell Conditioned Media, or CCM and our Human Extracellular Matrix,or hECM, there are no assurances that we will find a collaboration partner oracquirer for CCM or hECM or that the terms and timing of any such arrangementswould be acceptable to us.

Components of Results of Operations

Revenue

Our revenues to date have been generated primarily from the sale of cosmeticingredient products ("CCM"), license fees, professional services revenue, and aNational Science Foundation grant award.

License and Product Revenue

Our license and product revenue to date has been generated primarily frompayments received under the Allergan Agreements.

Grant Revenue

In March 2017, the National Science Foundation ("NSF"), a government agency,awarded us a research and development grant to develop a novel wound dressingfor infection control and tissue regeneration. As of March 31, 2021, wecompleted all obligations under the NSF grant and, as such, no longer generateany revenue in connection with the research and development grant.

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Cost of product revenue represents direct and indirect costs incurred to bringthe product to saleable condition, including write-offs of inventory.

Research and Development

Research and development expenses consist primarily of costs incurred for thepreclinical and clinical development of our product candidates, which include:

expenses under agreements with third-party contract organizations, investigativeclinical trial sites that conduct research and development activities on ourbehalf, and consultants;

costs related to develop and manufacture preclinical study and clinical trialmaterial;

salaries and employee-related costs, including stock-based compensation;

costs incurred and reimbursed under our grant awarded by the U.S. Department ofDefense ("DoD") to partially fund our Phase 1/2 clinical trial of HST-003 forregeneration of cartilage in the knee;

costs incurred for IND enabling activities for HST-004 for spinal disc repair;

costs incurred for completing the feasibility assessment of emricasan for thepotential treatment of skin bacterial infections including those related toABSSSI's, as well as other infectious diseases; and

laboratory and vendor expenses related to the execution of preclinical andclinical trials.

We accrue all research and development costs in the period for which they areincurred. Costs for certain development activities are recognized based on anevaluation of the progress to completion of specific tasks using information anddata provided to us by our vendors, collaborators and third-party serviceproviders. Advance payments for goods or services to be received in futureperiods for use in research and development activities are deferred and thenexpensed as the related goods are delivered and as services are performed.

We expect our research and development expenses to increase substantially forthe foreseeable future as we: (i) invest in additional operational personnel tosupport our planned product development efforts, and (ii) continue to invest indeveloping our product candidates as our product candidates advance into laterstages of development, and as we begin to conduct larger clinical trials.Product candidates in later stages of clinical development generally have higherdevelopment costs than those in earlier stages of clinical development,primarily due to the increased size and duration of later-stage clinical trials.

Our direct research and development expenses are tracked by product candidateand consist primarily of external costs, such as fees paid under third-partylicense agreements and to outside consultants, contract research organizations("CROs"), contract manufacturing organizations and research laboratories inconnection with our preclinical development, process development, manufacturingand clinical development activities. We do not allocate employee costs and costsassociated with our discovery efforts, laboratory supplies and facilities,including other indirect costs, to specific product candidates because thesecosts are deployed across multiple programs and, as such, are not separatelyclassified. We use internal resources primarily to conduct our research as wellas for managing our preclinical development, process development, manufacturingand clinical development activities. These employees work across multipleprograms and, therefore, we do not track our costs by product candidate unlesssuch costs are

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includable as subaward costs. The following table shows our research anddevelopment expenses by type of activity (in thousands):

Total research and development expenses $ 5,021 $ 8,473

We cannot determine with certainty the timing of initiation, the duration or thecompletion costs of current or future preclinical studies and clinical trials ofour product candidates due to the inherently unpredictable nature of preclinicaland clinical development, including any potential expanded dosing beyond theoriginal protocols based in part on ongoing clinical success. Clinical andpreclinical development timelines, the probability of success and developmentcosts can differ materially from expectations. We anticipate that we will makedeterminations as to which product candidates to pursue and how much funding todirect to each product candidate on an ongoing basis in response to the resultsof ongoing and future preclinical studies and clinical trials, regulatorydevelopments and our ongoing assessments of each product candidate's commercialpotential. We will need to raise substantial additional capital in the future.In addition, we cannot forecast which product candidates may be subject tofuture collaborations, when such arrangements will be secured, if at all, and towhat degree such arrangements would affect our development plans and capitalrequirements.

General and Administrative

General and administrative expenses consist primarily of personnel-relatedcosts, insurance costs, facility costs and professional fees for legal, patent,consulting, investor and public relations, accounting and audit services.Personnel-related costs consist of salaries, benefits, and stock-basedcompensation. We expect our general and administrative expenses to increasesubstantially as we: (i) incur additional costs associated with being a publiccompany, including audit, legal, regulatory, and tax-related services associatedwith maintaining compliance with exchange listing and SEC requirements, directorand officer insurance premiums, and investor relations costs, (ii) hireadditional personnel, and (iii) protect our intellectual property.

Other Income (Expense)

Interest Income

Interest income consists of interest earned on our cash equivalents, whichconsist of money market funds. Our interest income has not been significant dueto low interest earned on invested balances.

Other Income

Other income primarily consists of the Paycheck Protection Program Loan forgivenby the Small Business Administration on May 21, 2021.

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Results of Operations

Comparison of Years Ended December 31, 2022 and 2021

The following table sets forth our selected statements of operations data forthe years ended December 31, 2022 and 2021 (in thousands):

For the years ended December 31, 2022 and 2021, we recognized license revenuesof $3.8 million and $27 thousand, respectively. The increase in the currentperiod is due to a one-time payment of $3.75 million received in March 2022 asconsideration for execution of the Allergan Letter Agreement.

For the years ended December 31, 2022 and 2021, we recognized product revenuesof $0 and $0.9 million, respectively. The product revenue for the year endedDecember 31, 2021 was due to a one-time unanticipated sale of CCM to Allergan,unrelated to the Allergan Agreements. As of March 31, 2021, all obligations ofthe Company related to the additional supply of CCM to Allergan under theAllergan Agreements had been completed.

For the years ended December 31, 2022 and 2021, we recognized grant revenue of$0 and $0.1 million, respectively. The grant revenue for 2021 is associated witha research and development grant awarded to the Company from the NSF. As ofMarch 31, 2021, all work required by the Company under the grant has beencompleted.

For the years ended December 31, 2022 and 2021, we recognized $0 and $0.2million, respectively, for cost of product sold to Allergan under the AllerganAgreements.

Research and Development Expenses

Research and development expenses for the years ended December 31, 2022 and 2021were $5.0 million and $8.5 million, respectively. The decrease of $3.5 millionwas primarily due to decreases in personnel related expenses, the number ofclinical and preclinical candidates in development and corresponding reductionof costs, partially offset by facility rent increases.

General and Administrative Expenses

General and administrative expenses for the years ended December 31, 2022 and2021 were $9.4 million and $7.8 million, respectively. The increase of $1.6million was primarily due to increases in royalty expenses, legal fees,

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outside services, rent expenses and personnel expenses, partially offset byreductions in insurance and other administrative expenses.

Liquidity and Capital Resources

From inception through December 31, 2022, we have an accumulated deficit of$88.3 million and expect to incur operating losses and generate negative cashflows from operations for the foreseeable future. As of December 31, 2022, wehad approximately $12.1 million in cash and cash equivalents.

We have not yet established ongoing sources of revenues sufficient to cover ouroperating costs and will need to continue to raise additional capital to supportour future operating activities, including progression of our developmentprograms, preparation for potential commercialization, and other operatingcosts. Our plans with regard to these matters include entering into acombination of additional debt or equity financing arrangements, strategicpartnerships, collaboration and licensing arrangements, or other similararrangements. There can be no assurance that we will be able to obtainadditional financing on terms acceptable to us, on a timely basis or at all. Theaforementioned factors raise substantial doubt about our ability to continue asa going concern.

The consolidated financial statements have been prepared assuming that theCompany will continue as a going concern, which contemplates the realization ofassets and the satisfaction of liabilities and commitments in the normal courseof business. Based on the current business plan and operating budget, there issubstantial doubt about the Company's ability to continue as a going concernwithin one year from the date the consolidated financial statements are issued.The consolidated financial statements do not include any adjustments to reflectthe possible future effects on the recoverability and classification of assetsor the amounts and classification of liabilities that may result from theoutcome of this uncertainty.

Redeemable Convertible Preferred Stock

March 2022 Offering of Preferred Stock

As described in Note 7 to the consolidated financial statements, in March 2022,the Company completed a private placement offering (the "March 2022 Offering")of Series A Preferred Stock and Series B Preferred Stock. The proceeds of $4.76million were held in escrow and were only permitted to be disbursed to theCompany upon conversion of the Series A and Series B Preferred Stock.

Between June 2, 2022, and June 29, 2022, the Company redeemed for cash proceedstotaling $5,250,500, 2,500 outstanding shares of Series A Preferred Stock and2,500 outstanding shares of Series B Preferred Stock based on the receipt of theRedemption Notices (the "Preferred Redemption") at a price equal to 105% of the$1,000 stated value per share.

As of December 31, 2022, all shares of the Series A and B Preferred Stock are nolonger outstanding and the Company's only class of outstanding stock is itscommon stock. No proceeds were received from the March 2022 Offering.

Common Stock

January 2021 Offering of Common Stock

In January 2021, the Company completed an S-1 offering (the "January 2021Offering") of an aggregate of 580,000 shares of common stock, pre-fundedwarrants to purchase up to 120,000 shares of its common stock, and common stockwarrants to purchase up to an aggregate of 700,000 shares of common stock. Tothe extent that an investor determines, at their sole discretion, that theywould beneficially own in excess of the Beneficial Ownership Limitations (or assuch investor may otherwise choose), in lieu of purchasing shares of CommonStock and Common Warrants, such investor could have elected to purchasePre-Funded Warrants and Common Warrants at the Pre-Funded Purchase Price in lieuof the shares of Common Stock and Common Warrants in such a manner to result inthe same aggregate purchase price being paid by such investor to the Company.The combined purchase price of one share of common stock and the accompanyingcommon stock warrant was $20.00, and the combined purchase price of onepre-funded

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warrant and accompanying common stock warrant was $19.998. The common stockwarrants are exercisable for five (5) years at an exercise price of $20.00 pershare. The pre-funded warrants are immediately exercisable at an exercise priceof $0.002 per share and may be exercised at any time until all of the pre-fundedwarrants are exercised in full. Placement agent warrants were issued to purchaseup to 35,000 shares of common stock, are immediately exercisable for an exerciseprice of $25.00, and are exercisable for five (5) years following the date ofissuance. The Company received gross proceeds of $14.0 million and incurredplacement agent's fees and other offering expenses of approximately $1.9million.

As of December 31, 2022, a total of 336,060 warrants issued in the January 2021Offering to purchase shares of common stock have been exercised and the Companyissued 336,060 shares of its common stock. The Company received gross proceedsof approximately $6.8 million.

As of December 31, 2022, the Company had 387,565 shares and 11,375 shares ofcommon stock reserved for issuance pursuant to the warrants and placementagent's warrants, respectively, issued by the Company in the January 2021Offering, at an exercise price of $20.00 per share and $25.00 per share,respectively.

June 2021 Offering of Common Stock

In June 2021, the Company completed a registered direct offering (the "June 2021Offering") of an aggregate of 298,865 shares of common stock, together withaccompanying warrants to purchase up to an aggregate of 239,093 shares of commonstock, at a public offering price of $22.00 per share. The accompanying warrantspermit the investor to purchase additional shares equal to 80% of the number ofshares of the Company's common stock purchased by the investor. The warrantshave an exercise price of $20.00 per share, are immediately exercisable, andexpire five and a half (5.5) years following the date of issuance. In addition,the Company's placement agent was issued compensatory warrants equal to 5.0%, or14,946 shares, of the aggregate number of common stock sold in the offering,which are immediately exercisable for an exercise price of $27.50 and expirefive (5) years following the date of issuance on June 7, 2026. The Companyreceived gross proceeds of $6.6 million and incurred cash-based placement agentfees and other offering expenses of approximately $0.9 million.

As of December 31, 2022, no warrants associated with the June 2021 Offering havebeen exercised.

As of December 31, 2022, the Company had 90,910 shares and 14,946 shares ofcommon stock reserved for issuance pursuant to the warrants and placementagent's warrants, respectively, issued by the Company in the June 2021 Offering,at an exercise price of $20.00 per share and $27.50 per share, respectively. Inconnection with the July 2022 Offering, the Company agreed to amend warrants, byreducing the exercise price and extending the expiration date, to purchase up toan aggregate of 148,183 shares of common stock of the Company that wereoriginally issued to the investor in the June 2021 Offering.

December 2021 Offering of Common Stock

In December 2021, the Company completed a registered direct offering (the"December 2021 Offering") of an aggregate of 411,764 shares of common stock and411,766 warrants to purchase up to 411,766 shares of common stock, at a publicoffering price of $8.50 per share. The accompanying warrants permit the investorto purchase additional shares equal to approximately the same number of sharesof the Company's common stock purchased by the investor. The warrants have anexercise price of $8.50 per share, may be exercised any time on or after 6months and one (1) day after the issuance date, and expire five and a half (5.5)years following the date of issuance. In addition, the Company's placement agentwas issued compensatory warrants equal to 5.0%, or 20,590 shares, of theaggregate number of shares of common stock sold in the offering, which areimmediately exercisable for an exercise price of $10.626 and expire five and ahalf (5.5) years following the date of issuance on June 21, 2027. The Companyreceived gross proceeds of $3.5 million and incurred cash-based placement agentfees and other offering expenses of approximately $0.5 million.

As of December 31, 2022, no warrants associated with the December 2021 Offeringhave been exercised.

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As of December 31, 2022, the Company had 164,707 shares and 20,590 shares ofcommon stock reserved for issuance pursuant to the warrants and placementagent's warrants, respectively, issued by the Company in the December 2021Offering, at an exercise price of $8.50 per share and $10.626 per share,respectively. In connection with the July 2022 Offering, the Company agreed toamend warrants, by reducing the exercise price and extending the expirationdate, to purchase up to an aggregate of 247,059 shares of common stock of theCompany that were originally issued to the investor in the December 2021Offering.

July 2022 Offering of Common Stock

On July 12, 2022, the Company entered into a Securities Purchase Agreement (the"July 2022 Purchase Agreement") with a single healthcare-focused institutionalinvestor for the sale by the Company of (i) a pre-funded warrant to purchase upto 1,774,309 shares of Common Stock (the "Pre-Funded Warrant"), (ii) a Series Awarrant to purchase up to an aggregate of 1,774,309 shares of common stock (the"Series A Warrant"), and (iii) a Series B warrant to purchase up to an aggregateof 1,774,309 shares of common stock (the "Series B Warrant," and together withthe Pre-Funded Warrant and the Series A Warrant, the "Warrants"), in a privateplacement offering (the "Offering"). The combined purchase price of onePre-Funded Warrant and accompanying Series A Warrant and accompanying Series BWarrant was $2.818.

Subject to certain ownership limitations, the Series A Warrant is exercisableimmediately after the issuance date at an exercise price equal to $2.568 pershare of common stock, subject to adjustments as provided under the terms of theSeries A Warrant, and has a term of five and a half (5.5) years from theissuance date. Subject to certain ownership limitations, the Series B Warrant isexercisable immediately after the issuance date at an exercise price equal to$2.568 per share of common stock, subject to adjustments as provided under theterms of the Series B Warrant, and has a term of one and a half (1.5) years fromthe issuance date. Subject to certain ownership limitations described in thePre-Funded Warrant, the Pre-Funded Warrant was immediately exercisable and maybe exercised at an exercise price of $0.0001 per share of common stock any timeuntil all of the Pre-Funded Warrant is exercised in full. As of December 31,2022, the Pre-Funded Warrant to purchase up to an aggregate of 1,774,309 sharesof common stock had been fully exercised and the Company issued 1,774,309 sharesof common stock.

The Company also agreed to amend certain warrants to purchase up to an aggregateof 447,800 shares of common stock of the Company that were issued to theinvestor in the private placement in November 2020, June 2021 and December 2021with exercise prices ranging from $8.50 to $34.00 per share and expiration datesranging from May 18, 2026 to June 21, 2027, so that such warrants have a reducedexercise price of $2.568 per share and expiration date of five and a half (5.5)years following the closing of the private placement, for an additional offeringprice of $0.0316 per amended warrant. The incremental fair value resulting fromthe modifications to the warrants was adjusted against the gross proceeds fromthe offering as an equity issuance cost.

The gross proceeds to the Company were approximately $5 million, beforededucting the placement agent's fees and other offering expenses, and excludingthe proceeds, if any, from the exercise of the Series A Warrant, the Series BWarrant, and amended warrants.

As of December 31, 2022, no warrants associated with the July 2022 PurchaseAgreement have been exercised.

As of December 31, 2022, the Company had 3,996,418 shares and 124,202 shares ofcommon stock reserved for issuance pursuant to the warrants and placementagent's warrants, respectively, issued by the Company in the July 2022 PurchaseAgreement, at an exercise price of $2.568 per share and $3.5225 per share,respectively.

Common Stock Purchase Agreement with Lincoln Park

In July 2020, the Company entered into a common stock purchase agreement (the"2020 Purchase Agreement") with Lincoln Park which provided that, upon the termsand subject to the conditions and limitations in the 2020 Purchase Agreement,Lincoln Park was committed to purchase up to an aggregate of $10.0 million ofshares of the Company's common stock at the Company's request from time to timeduring a 24 month period that began in July 2020 and at prices based on themarket price of the Company's common stock at the time of each sale. Uponexecution of the 2020 Purchase Agreement, the Company sold 16,425 shares ofcommon stock at $60.88 per share to Lincoln Park for gross

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proceeds of $1.0 million. During the year ended December 31, 2020, the Companysold an additional 15,000 shares of common stock to Lincoln Park for grossproceeds of approximately $0.5 million. In addition, in consideration forentering into the 2020 Purchase Agreement and concurrently with the execution ofthe 2020 Purchase Agreement, the Company issued 3,348 shares of its common stockto Lincoln Park. During the year ended December 31, 2022, the Company did notsell any shares of common stock to Lincoln Park.

The 2020 Purchase Agreement expired automatically pursuant to its term on August1, 2022, and the Company did not sell any additional shares of common stock toLincoln Park through the date of expiration of the 2020 Purchase Agreement.

Common Stock Warrants

In 2016, Private Histogen issued warrants to purchase common stock asconsideration for settlement of prior liability claims. The warrants for thepurchase of up to 180 common shares at an exercise price of $461.60 per shareexpired on July 31, 2021.

In addition, as of December 31, 2022, warrants to purchase 68 shares of commonstock with an exercise price of $1,486.00 per share remain outstanding that wereissued by Conatus in connection with obtaining financing in 2016. These warrantsexpire on July 3, 2023.

See warrant discussion above in connection with the January 2021 Offering, theJune 2021 Offering, the December 2021 Offering, and the July 2022 Offering.

Cash Flow Summary for the Years Ended December 31, 2022 and 2021

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HISTOGEN INC. Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-K) - Marketscreener.com

SEELOS THERAPEUTICS, INC. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K) – Marketscreener.com

Overview

Impact of COVID-19

Our product development pipeline is as follows:

Table of Contents

Additionally, we are developing several preclinical programs, most of which havewell-defined mechanisms of action, including SLS-004, licensed from DukeUniversity, and SLS-007, licensed from The Regents of the University ofCalifornia, for the potential treatment of Parkinson's Disease ("PD").

Strategy and Ongoing Programs

Table of Contents

? advancing SLS-002 in ASIB in MDD and post-traumatic stress disorder;

? advancing SLS-004 in PD;

? advancing SLS-005 in ALS, SCA, HD and Sanfilippo Syndrome;

? advancing new formulations of SLS-005 in neurological diseases; and

? acquiring synergistic assets in the CNS therapy space through licensing and

partnerships.

Operating expense for the years ended December 31, 2022 and 2021 was as follows(in thousands, except percentages):

Research and Development Expenses

General and Administrative Expenses

Other Income and Expense

369

(3,247)

2,387

(149)

Interest Expense

Interest expense was $14,000 and $1.6 million for the years ended December 31,2022 and 2021, respectively. The decrease was due to our repayment of theDecember 2020 convertible notes during 2021.

Change in Fair Value of Derivative Liability

Change in Fair Value of Convertible Notes

Net Loss on Extinguishment of Debt

Gain on Forgiveness of Debt

Gain on forgiveness of debt was $0 and $149,000 for the years ended December 31,2022 and 2021, respectively. This gain was due to the forgiveness of ouroutstanding PPP loan, which we received in June 2021.

Change in Fair Value of Warrant Liability

Liquidity, Capital Resources and Financial Condition

We expect to use the net proceeds from the above transactions primarily forgeneral corporate purposes, which may include financing our normal businessoperations, developing new or existing product candidates, and funding capitalexpenditures, acquisitions and investments.

Table of Contents

Our future liquidity and capital funding requirements will depend on numerousfactors, including:

? our ability to raise additional funds to finance our operations;

? our ability to maintain compliance with the listing requirements of The Nasdaq

Capital Market;

? the outcome, costs and timing of any clinical trial results for our current or

future product candidates;

? potential litigation expenses;

? the emergence and effect of competing or complementary products or product

property portfolio, including the amount and timing of any payments we may be

? required to make, or that we may receive, in connection with the licensing,

filing, prosecution, defense and enforcement of any patents or other

intellectual property rights;

? our ability to retain our current employees and the need and ability to hire

additional management and scientific and medical personnel;

? the terms and timing of any collaborative, licensing or other arrangements that

we have or may establish;

? the trading price of our common stock; and

? our ability to increase the number of authorized shares outstanding to

facilitate future financing events.

Cash Flow Summary

(48,995)

Net cash (used in) provided by financing activities (1,597) 112,067Net (decrease) increase in cash

No cash was used in investing activities during the years ended December 31,2022 or 2021.

Cash provided by financing activities of $112.1 million in the year endedDecember 31, 2021 was primarily due to the proceeds from our May 2021 andJanuary 2021 public offerings, as well as proceeds from the issuance and sale ofthe 2021 Note and the 2021 Closing Shares.

Contractual Obligations

Recent Accounting Pronouncements

See Note 1 to our consolidated financial statements for a discussion of recentaccounting pronouncements and their effect, if any, on us.

Critical Accounting Estimates and Policies

We believe that the following critical accounting policies and estimates have ahigher degree of inherent uncertainty and require our most significantjudgments:

Accrual of Research and Development Expenses

Valuation of Warrant Liability

Valuation of Convertible Notes

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SEELOS THERAPEUTICS, INC. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K) - Marketscreener.com

Cell Therapy Market is estimated to be US$ 19.6 billion by 2030 with a CAGR of 13.1% during the forecast – EIN News

Cell Therapy Market - By PMI

Cell Therapy Market, By Clinical-use, By Type, By Region - Trends, Analysis and Forecast till 2029

Prophecy Market Insights

The report "Cell Therapy Market, By Clinical-use (Therapeutic Area (Malignancies, Muscoskeletal Therapies, Autoimmune Disorders, Dermatology, and Others), Cell Type (Stem Cell Therapies, BM, Blood, & Umbilical Cord-derived Stem Cells, Adipose Derived Cells, and Others), Non-stem Cell Therapies, and Research-use), By Type (Autologous Therapies and Allogenic Therapies), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029

Key Highlights:

In December 2020, Bayer recently announced the launch of a cell and gene therapy platform (C>) within its pharmaceutical division. The platform will further consolidate its emerging leadership in the cell and gene therapy field and transform its overall business, the company said.

In July 2021, Ashfield, part of UDG Healthcare, has launched EmerGENE, a global end-to-end cell and gene therapy network approach designed to support small and midsize biotechs with the commercialization of their discoveries. EmerGENE has been built by a multidisciplinary team that delivers expert-led guidance and services to biotechs throughout their entire clinical to commercial journey.

In July 2021, Catalent, the leading global provider of advanced delivery technologies, development, and manufacturing solutions for drugs, biologics, cell and gene therapies, and consumer health products, today announced the launch of its next-generation cell line development technology, GPEx Lightning. Leveraging Catalents proven GPEx expression platform in a glutamine synthase (GS) knock-out Chinese hamster ovary (CHO) cell line system, GPEx Lightning combines innovative technologies, including a novel gene insertion technology, to further shorten drug substance development by up to three months compared to previous timelines.

Analyst View:

The key driver driving global market growth is an increase in the occurrence of diseases such as cancer, cardiac problems, and others. In 2017, 9.6 million individuals died from various forms of cancer, according to data published by Our World in Data Organization in 2019. Furthermore, technical imrovements in the field of cell treatment, as well as the increased usage of human cells over animal cells for cell therapies research, are driving the global market forward. Government laws governing the use of cell therapy, on the other hand, may stifle worldwide market growth over the projection period. Nonetheless, the global market is likely to benefit from increased research funding and an increase in the number of policies promoting stem cell therapy in developing countries over the forecast period.

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Report Scope:

1.Global Cell Therapy Market, By Clinical-use, 2019 2029, (US$ Bn) >Overview --Market Value and Forecast (US$ Bn), and Share Analysis (%), 2019 2029 --Y-o-Y Growth Analysis (%), 2019 2029 --Segment Trends >Therapeutic Area --Overview --Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 2029 --Malignancies --Muscoskeletal Therapies --Autoimmune Disorders --Dermatology --Others >Cell Type --Overview --Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 2029 --GTT Technology --96 System --Mark III System >Non-stem Cell Therapies >Research-use 5.Global Cell Therapy Market, By Type, 2019 2029, (US$ Bn) >Overview --Market Value and Forecast (US$ Bn), and Share Analysis (%), 2019 2029 --Y-o-Y Growth Analysis (%), 2019 2029 --Segment Trends >Autologous Therapies --Overview --Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 2029 >Allogenic Therapies --Overview --Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2019 2029

Key Market Insights from the report:

The Cell Therapy Market accounted for US$ 5.8 billion in 2020 and is estimated to be US$ 19.6 billion by 2030 and is anticipated to register a CAGR of 13.1%.

The Cell Therapy Market is segmented based on the Clinical-use, Type, and Region.

By Clinical-use, the Global Cell Therapy Market is segmented into Therapeutic Area (Malignancies, Muscoskeletal Therapies, Autoimmune Disorders, Dermatology, and Others), Cell Type (Stem Cell Therapies, BM, Blood, & Umbilical Cord-derived Stem Cells, Adipose Derived Cells, and Others), Non-stem Cell Therapies, and Research-use.

By Type, the market is segmented into Autologous Therapies and Allogenic Therapies.

By Region, the Global Cell Therapy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominates the market in terms of market presence, followed by the European region with a significant market share due to the increasing demand for furnishings and dcor products that require minimum space.

Competitive Landscape: JCR Pharmaceuticals Co. Ltd. Kolon TissueGene MEDIPOST Osiris Therapeutics Stemedica Cell Technologies Cells for Cells NuVasive Anterogen.Co Fibrocell Science Vericel Corporation PHARMICELL Co., Ltd.

Regional scope:

North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

For More Information or Query or Customization before buying, Visit at: https://www.prophecymarketinsights.com/market_insight/Insight/request-customization/3712

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

Browse Other Related Research Reports from Prophecy Market Insights:

1.Cell Cryopreservation Market: By Product Type (Cryopreservative Medium (Glycerol, Dimethyl sulfoxide (DMSO), and Others), Freezers, and Others), By Application (Stem cells, Oocytes and embryos, Sperm, Semen, and Testicular Tissue, and Others), By End User (Pharmaceutical and Biotechnology Companies, Research Institutes, and Others), and By Region (North America, Latin America, Europe, Middle East, Asia Pacific, Africa) - Trends, Analysis and Forecast till 2029

2.Cell Therapy Manufacturing Market: By Therapy Type (Allogeneic Cell Therapy and Autologous Cell Therapy) By Technology (Somatic Cell Technology, Cell Immortalization Technology, Viral Vector Technology, Genome Editing Technology, Cell Plasticity Technology, and 3D Technology), By Source (IPSCs, Bone Marrow, Umbilical Cord, Adipose Tissue, and Neural Stem Cells), By Application ( Musculoskeletal, Cardiovascular, Gastrointestinal, Neurological, Oncology, Dermatology, and Other),and By Geography (North America, Latin America, Europe, Middle East, Asia Pacific, Africa) - Trends, Analysis and Forecast till 2029 Follow Us On: Linkedin | Twitter | Facebook

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Cell Therapy Market is estimated to be US$ 19.6 billion by 2030 with a CAGR of 13.1% during the forecast - EIN News

Combined adipose-derived mesenchymal stem cell and antibiotic … – Nature.com

Bacteria and biofilm formation

MSSA strain ATCC29213 (American Type Culture Collection, Manassas, VA, USA) was used as it tends to form biofilms32,33. MSSA was streaked onto plates containing tryptic soy broth and Bacto agar (BD Biosciences, Franklin Lakes, NJ, USA) and grown overnight in 5 mL of tryptic soy broth at 37 C in a shaking incubator. MSSA cells in the incubation medium were grown to the early exponential growth phase (0.20.3 optical density at 600 nm), corresponding to 5.0 107 CFU/mL.

Adipose tissue (~1.5 g) was obtained from Wistar rats (female; 12 weeks old; Japan SLC Corp., Shizuoka, Japan). ADSCs were prepared by modifying previously reported methods34. Further details can be found in the Supplementary file. Cellular characteristics (i.e. expression of stem cell surface markers) were determined using flow cytometric analysis after labeling ADSCs with appropriate antibodies of cultivation.

Wistar rats (female; 12 weeks old; Japan SLC Corp.) were housed under specific pathogen-free conditions with a 12-h light/dark cycle and ad libitum access to a certified diet (CRF-1; Oriental Yeast Corp., Tokyo, Japan) and water (chlorine concentration; 10 ppm). The drinking, feeding behavior, and body weight of the rats were monitored regularly. The animals were acclimatized for 7 days before undergoing the implant operation.

Rats were anesthetized with midazolam (2.5 mg/kg; Astellas Pharma, Tokyo, Japan), medetomidine (0.5 mg/kg; Zenoaq, Fukushima, Japan), and butorphanol tartrate (2.5 mg/kg; Meiji Seika Pharma, Tokyo, Japan). To establish infection, A medical-grade K-wire (1.2 mm diameter; Synthes Inc., West Chester, PA, USA) was incubated in an overnight culture with MSSA strain ATCC29213 and then air-dried for 20min prior to insertion. This MSSA strain exposure coats the screw with 5107 CFU. The K-wire was surgically placed into the distal femur as previously described34,35,36. Briefly, the skin overlying the leg was shaved and cleaned with iodine solution. A medial parapatellar approach was used, and the patella was dislocated laterally to access the knee joint. The femoral medullary canal was reamed with an 18-gauge needle and the K-wire was placed in a retrograde fashion with 1 mm of the wire protruding into the joint space. The quadriceps-patellar complex was reduced to the anatomic position, and the wound was closed with nylon 4-0 sutures. Rats were randomly assigned and equally divided into three groups: no-treatment, antibiotic (ciprofloxacin [3.0 mg/kg per day intravenously]), and ADSCs [5.0 105 cells intravenously 30 min, 6 h, and 18 h after the surgical procedure]) with antibiotic (ciprofloxacin [3.0 mg/kg per day intravenously] groups. The ADSC dose, based on a previous report37, is considered to not induce adverse effects, including a high mortality rate. Additionally, a previous report showed that a ciprofloxacin dose of 3.0 mg/kg per day caused no adverse effects or unstable conditions in rats11. MSSA induced infection in 100% of the untreated rats with no significant differences in the initial body weights between the different groups.

After evaluating the general overall condition and soft tissue swelling, the rats were euthanized on POD 14 using thiopental sodium (100 mg/kg body weight). Tissues from the knee joint space, femur, and implant were harvested in a sterile manner for ex vivo analyses.

Weight change (n = 6 rats per group) was calculated as a percentage change based on the preoperative weight to quantitatively measure the systemic response to infection. Preoperative baseline measurements were performed on the day before surgery. The weight of the rats was also evaluated on PODs 1, 3, 7, and 14.

Soft tissue and bone damage (n = 6 rats per group) on POD14 was scored by three examiners (D.I, A.T. and T.K.) blinded to the rats according to a modified Rissing scoring38,39. Further details can be found in Supplementary file.

CT imaging (n = 6 rats per group) was performed on POD14 to determine the degree of infection within the femoral region of interest. Considering that image artifacts from the K-wires may cause artifacts in the reconstructed CT images, isolated femurs from rats with the wire removed were subjected to CT scanning (LaTheta LCT-200; Hitachi Aloka Medical, Tokyo, Japan), operating at 50 kV and 0.5 mA (radiation exposure remained below 40 mSv). BMD was calculated automatically using LaTheta software (version 3.51). Reconstructed CT images were initially visualized in three dimensions (3D) to evaluate changes in bone morphology resulting from implant infection. A threshold-limited 3D rendering was created to visualize bone damage.

Implants were harvested (n = 6 rats per group) from each group. Based on a previous report, the bacterial burden on the implants was determined using a CFU assay40,41. To quantify living bacteria adherent to the implant within the biofilm, the removed implants were placed individually into 1.5-mL microtubes containing PBS (1 mL at 4C), vortexed for 15 s and sonicated for 5 min at 40 Hz in a water bath (Bransonic 5210; Branson Ultrasonics, Brookfield, CT, USA), followed by an additional 1 min of vortexing. The spread plate method was used to quantitatively evaluate the biofilm; the solution containing each bacterium from the biofilm was serially diluted 10-fold with PBS, followed by culturing on an agar plate at 37C for 24 h. MSSA was cultured on tryptic soy broth agar plates. The bacterial CFUs obtained from the implant were determined by counting the CFUs after culturing on plates overnight.

At the established endpoint (POD14), the femurs isolated from the rats were fixed in 10% neutralized formalin solution and dehydrated using an ethanol gradient (70%, 80%, 90%, and 100%). The fixed specimens were decalcified in 10% formic sodium citrate solution, embedded in paraffin, and sectioned in the coronal plane. The sections were stained with hematoxylin and eosin, and the slides were observed using an optical microscope (Biorevo BZ-9000; Keyence Corp., Osaka, Japan).

At the established endpoint (POD14), total RNA was extracted from the knee tissue of the rats (n = 6 rats per group). The mRNA expression of rCRAMP, TNF-, IL-6 and IL-1b was evaluated by quantitative PCR. All values were normalized to the level of the GAPDH gene, and relative gene expression levels were calculated using the 2Ct method42. Further details can be found in the Supplementary file (Supplementary Table S1).

Tissue sections were evaluated to determine the location of ADSCs following injection. To confirm the location of the injected ADSCs, they were labeled with the fluorescent dye DiI (Vybrant DiI Cell Labeling Solution; Life Technologies, Carlsbad, CA, USA) before injection. DiI binds to cellular thiols and has long-term stability, enabling the tracing of DiI-labeled transplanted cells in the host tissue. The concentration of ADSCs was adjusted to 5.0 105 cells/mL; DiI (5 L/mL) was dissolved in the cell culture media and incubated for 15 min at 37C in a 5% CO2 incubator for ADSCs labeling. The filtrate was centrifuged at 180g for 5 min at 25C and the supernatant was removed to separate the DiI from the filtrate. The ADSCs were centrifuged twice with Dulbeccos modified Eagle medium under the same conditions and the supernatant was removed. We used separate rats for this experiment (n = 3 rats per antibiotic group and DiI-labeled ADSCs with antibiotic group). On day 14 post-injection, a frozen section was prepared using Kawamotos film method in the sagittal plane43. For identification of tissues following DiI labeling, the gray-scale scale (16 bit) of the DiI-labeled section was used.

All continuous variables were assessed for normality using the ShapiroWilk test. Normally distributed data were expressed as the mean standard error. Data were analyzed using SPSS software (version 25.0; SPSS, Inc., Armonk, NY, USA). Multiple groups were compared using the Welch ANOVA followed by Tukey HSD or Games-Howell post-hoc test. For all analyses, results were considered statistically significant at p < 0.05.

The investigational protocol was approved by the Kanazawa University Advanced Science Research Centre (Approval Number: AP-194052), and all animals were treated in accordance with Kanazawa University Animal Experimentation Regulations. The study was carried out in compliance with the ARRIVE guidelines.

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Combined adipose-derived mesenchymal stem cell and antibiotic ... - Nature.com

Global Cell Dissociation Solution Market to Reach USD 872.8 Million by 2030; Increasing R&D Activites in Emerg – openPR

The global cell dissociation solution market is expected to exhibit strong growth, reaching USD 872.8 million by 2030. As per the report titled "Cell dissociation solution Market Size, Share & COVID-19 Impact Analysis, By Type (Tissue Dissociation and Cell Detachment), By Product (Enzymatic Dissociation Products (Collagenase, Trypsin, Papain, Elastase, DNase, Hyaluronidase and Other Enzymes), Non-Enzymatic Dissociation Products and Instruments), By Tissue (Connective Tissues, Epithelial Tissues and Other Type Tissues (Skeletal and Muscles Tissues)), By End User (Pharmaceutical and Biotechnology Companies, Research and Academics and Other End Users), and Regional Forecasts, 2023-2030" observes that the market size in 2022 stood at USD 294.9 million and USD 872.8 million in 2030. The market is expected to exhibit a CAGR of 14.90% during the forecast period.

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Symphogen (Denmark) And Thermo Fisher Scientific Collaborated To Further Their Strategic Partnership

In 2020, to improve the discovery and development of biopharmaceuticals, Thermo Fisher Scientific extended its strategic partnership with Symphogen (Denmark). QIAGEN N.V. (Germany) was purchased by Thermo Fisher Scientific in order to increase the scope of its specialty diagnostics offering.

Increasing R&D Activites in Emerging Economies to Accelerate Market Growth

Players in the cell dissociation solutions market can expect to find significant growth prospects in emerging markets like China, India, and Brazil. The number of R&D initiatives in the life sciences sector has increased in these nations. For instance, Indian-based pharmaceutical companies are spending a lot of money on research and development to bring new medicines to market. An Indian pharmaceutical company named Cadila Healthcare Ltd. invested USD 113 million (or 13% more) in R&D in 2020 than it did in 2019. Similar to Biocon, another pharmaceutical business with headquarters in India, spent USD 58.79 million on R&D in 2020, a 52% increase from 2019. The country's demand for items involving cell dissociation solution is predicted to rise as a result of these investments.

Ethical Issues With Cell Biology Research To Constrain Business Expansion

Animals and humans must be employed in cell biology research because stem cell therapies and gene therapy studies that use gene recombination use both animal and human cells. In vivo drug toxicity and pharmacokinetic testing also uses these human and animal cells. This is due to the fact that direct testing on people or animals could be dangerous or even lethal. Furthermore, human embryos are often destroyed in stem cell research trials that employ them for medicinal purposes. In a number of nations around the world, strong restrictions have been developed by ethical authorities to regulate these operations. Cell biology research is being significantly constrained in many different countries due to these ethical issues and limitations on the use of cells for study.

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Major Players Develop Acquisition Plans to Boost Brand Image

The leading businesses in the cell dissociation solution market plan acquisitions to improve their brand recognition globally. For instance, in 2021, a definitive merger agreement between Roche Diagnostics and GenMark Diagnostics was signed in order to have access to cutting-edge technologies for testing several infections in a single patient sample.

Recent Development:In September 2022, Thermo Fisher unveiled the Orbitrap Ascend TriBrid last month at the International Mass Spectrometry Conference in Maastricht, Netherlands. This premium equipment is intended for proteomic and biopharma applications.List of Key Players Profiled in the ReportBDThermo Fisher Scientific Inc.F. Hoffmann-La Roche LtdGE HealthcareMerck KgaAATCCREPROCELL Inc.ALSTEMCellSystemsBIOCOM AGBiological Industries USA, Inc.PelobiotechBrainBits, LLCLabochemaHimedia LaboratoriesBIOCOMPAREPAN-BiotechGemini Bio-ProductsMiltenyi BiotecSTEMCELL Technologies, Inc.Cyagen Biosciences, Inc.PromoCell GmbHIrvine ScientificSigma-Aldrich Co. LLCOthers

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Global Cell Dissociation Solution Market to Reach USD 872.8 Million by 2030; Increasing R&D Activites in Emerg - openPR

Homology Medicines Reports Fourth Quarter and Full Year 2022 Financial Results and Recent Highlights – Yahoo Finance

Homology Medicines, Inc.

- On Track to Provide Initial Clinical Data from Gene Editing Trial for PKU Mid-Yearwith First Participant Dosed and Others in Screening -

- Initial Clinical Data from Gene Therapy Trial for Hunter Syndrome Anticipatedin Second Half of 2023; Trial Recruiting in the U.S. and Canada -

- Anticipated Cash Runway Into Fourth Quarter 2024 Enables Execution Against Key Milestones -

BEDFORD, Mass., March 09, 2023 (GLOBE NEWSWIRE) -- Homology Medicines, Inc. (Nasdaq: FIXX), a genetic medicines company, announced today financial results for the fourth quarter and full year ended December 31, 2022, and highlighted recent accomplishments.

We entered 2023 with strong momentum across our gene editing and gene therapy clinical trials for PKU and Hunter syndrome, and we anticipate initial data read-outs from both programs this year, said Albert Seymour, Ph.D., President and Chief Executive Officer of Homology Medicines. Dosing of the first patient in the pheEDIT trial for PKU marked a key milestone for Homology, and the forthcoming data will represent the first gene editing data in PKU patients. We believe the continued interest in the juMPStart trial for Hunter syndrome underscores the impact a one-time gene therapy with potential to address both the peripheral and CNS disease manifestations could have for patients and their loved ones.

Continued Dr. Seymour, We recently shared a series of data that support these programs, including preclinical work on the targeted immunosuppression regimen being utilized in both pheEDIT and juMPStart. We also unveiled details of our optimized MLD gene therapy candidate, demonstrating its ability to cross the blood-brain-barrier in the disease model with enzyme activity expected to lead to in vivo efficacy. The third arm of our platform, GTx-mAb, continues to advance as we move HMI-104 for PNH through IND-enabling studies. We are well-positioned to execute against key milestones with anticipated funding into the fourth quarter of 2024.

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Fourth Quarter 2022 and Recent Accomplishments

Dosed first participant in the Phase 1 pheEDIT clinical trial evaluating in vivo nuclease-free gene editing candidate HMI-103 in adults with phenylketonuria (PKU); additional participants are in screening. Homology continues to expect initial clinical data from the trial mid-year 2023.

Shared preclinical data that showed murine surrogate of HMI-103 was ten times more potent than non-integrating gene therapy vector HMI-102 in the murine model of PKU; HMI-103 is designed with a unique mechanism of action (MOA) to maximize PAH enzyme through both genome integration and episomal expression, and it has the potential to treat adults and pediatric patients.

Building on physician and patient interest, anticipate initial clinical data from the HMI-203 juMPStart gene therapy trial for Hunter syndrome in the second half of 2023.

Presented data that support the targeted immunosuppressive regimen in Homologys clinical trials. In non-human primates (NHPs), the combination of a T-cell inhibitor and steroid was most effective in reducing the immune response to AAVHSC and improving gene expression.

Presented preclinical data with HMI-204, Homologys optimized, in vivo gene therapy candidate for metachromatic leukodystrophy (MLD). A single I.V. dose in the murine model of MLD led to robust expression in the central nervous system (CNS), including sustained levels of enzyme activity reaching levels of normal human adults and predicted to lead to efficacy in vivo. Homology continues to seek a partner for the optimized product candidate, which is ready to enter IND-enabling studies.

Progressed HMI-104, a C5 monoclonal antibody (mAb) development candidate for paroxysmal nocturnal hemoglobinuria (PNH), through IND-enabling studies. HMI-104 is the first candidate that utilizes the Companys GTx-mAb platform and is focused on using the liver to express a C5 mAb with a one-time dose. Homology believes its GTx-mAb platform has the potential to address larger market indications.

Announced today thepromotion of Julie Jordan, M.D., to Chief Medical Officer.

Fourth Quarter 2022 and Full Year Financial Results

Net loss for the quarter ended December 31, 2022 was $(34.3) million or $(0.60) per share, compared to a net loss of $(33.6) million or $(0.59) per share for the same period in 2021. Net loss for the year ended December 31, 2022 was $(5.0) million or $(0.09) per share, compared to a net loss of $(95.8) million or $(1.73) per share for the same period in 2021. The decrease in net loss was primarily due to a gain of $131.2 million realized in connection with the Companys sale of its manufacturing business to Oxford Biomedica in order to establish Oxford Biomedica Solutions (OXB Solutions), an AAV Innovation and Manufacturing Business, in the first quarter of 2022, partially offset by lower collaboration revenues in 2022.

Collaboration revenues for the three and twelve months ended December 31, 2022 were $0.8 million and $3.2 million, respectively, as compared to $0.8 million and $34.0 million for the comparable periods in 2021. Collaboration revenues in 2022 consisted of revenue recognized under the Companys stock purchase agreement with Pfizer compared with collaboration revenues in 2021, which were primarily the result of concluding the Companys collaboration with Novartis.

Total operating expenses for the three and twelve months ended December 31, 2022 were $35.3 million and $136.5 million, respectively, as compared to $34.4 million and $129.9 million for the comparable periods in 2021, and consisted of research and development expenses and general and administrative expenses.

Research and development expenses for the three and twelve months ended December 31, 2022 were $27.2 million and $98.4 million, respectively, as compared to $23.6 million and $93.1 million for the comparable periods in 2021. Research and development expenses increased by $5.3 million in 2022 primarily due to increases in direct costs of $9.3 million related to pheEDIT and $3.9 million related to juMPStart, as we incurred costs to initiate sites and recruit patients. Additionally, there was a $5.8 million increase in direct research expenses related to our other development-stage programs, primarily due to higher spending on HMI-104. Partially offsetting these increases was a $15.6 million decrease in employee-related costs as a result of transferring employees to OXB Solutions in order to leverage the Companys in-house manufacturing capabilities while establishing a 20% ownership stake and preferred customer status in the new business.

General and administrative expenses for the three and twelve months ended December 31, 2022 were $8.1 million and $38.1 million, respectively, as compared to $10.8 million and $36.8 million for the comparable periods in 2021. General and administrative expenses increased in 2022 due primarily to professional fees associated with the establishment of OXB Solutions.

As of December 31, 2022, Homology had approximately $175.0 million in cash, cash equivalents and short-term investments. Based on current projections, Homology expects current cash resources to fund operations into the fourth quarter of 2024.

Upcoming Events

About Homology Medicines, Inc.Homology Medicines, Inc. is a clinical-stage genetic medicines company dedicated to transforming the lives of patients suffering from rare diseases by addressing the underlying cause of the disease. The Companys clinical programs include HMI-103, a gene editing candidate for phenylketonuria (PKU); HMI-203, an investigational gene therapy for Hunter syndrome; and HMI-102, an investigational gene therapy for adults with PKU. Additional programs focus on paroxysmal nocturnal hemoglobinuria (PNH), metachromatic leukodystrophy (MLD) and other diseases. Homologys proprietary platform is designed to utilize its family of 15 human hematopoietic stem cell-derived adeno-associated virus (AAVHSCs) vectors to precisely and efficiently deliver genetic medicines in vivo through a nuclease-free gene editing modality, gene therapy, or GTx-mAb, which is designed to produce antibodies throughout the body. Homology established an AAV manufacturing and innovation business in partnership with Oxford Biomedica, which was based on Homologys internal process development and manufacturing platform. Homology has a management team with a successful track record of discovering, developing and commercializing therapeutics with a focus on rare diseases. Homology believes its initial clinical data and compelling preclinical data, scientific and product development expertise and broad intellectual property position the Company as a leader in genetic medicines. For more information, visit http://www.homologymedicines.com.

Forward-Looking Statements This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding: our plans to engage in future collaborations and strategic partnerships; our expectations surrounding the potential, safety, efficacy, and regulatory and clinical progress of our product candidates; the potential of our gene therapy and gene editing platforms, including our GTx-mAb platform; our plans and timing for the release of additional preclinical and clinical data; our plans to progress our pipeline of genetic medicine candidates and the anticipated timing for these milestones; our position as a leader in the development of genetic medicines; the sufficiency of our cash and cash equivalents to fund our operations; and our participation in upcoming presentations and conferences. The words believe, may, will, estimate, potential, continue, anticipate, intend, expect, could, would, project, plan, target, and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the following: we have and expect to continue to incur significant losses; our need for additional funding, which may not be available; failure to identify additional product candidates and develop or commercialize marketable products; the early stage of our development efforts; potential unforeseen events during clinical trials could cause delays or other adverse consequences; risks relating to the regulatory approval process; interim, topline and preliminary data may change as more patient data become available, and are subject to audit and verification procedures that could result in material changes in the final data; our product candidates may cause serious adverse side effects; inability to maintain our collaborations, or the failure of these collaborations; our reliance on third parties, including for the manufacture of materials for our research programs, preclinical and clinical studies; failure to obtain U.S. or international marketing approval; ongoing regulatory obligations; effects of significant competition; unfavorable pricing regulations, third-party reimbursement practices or healthcare reform initiatives; product liability lawsuits; securities class action litigation; the impact of the COVID-19 pandemic and general economic conditions on our business and operations, including our preclinical studies and clinical trials; failure to attract, retain and motivate qualified personnel; the possibility of system failures or security breaches; risks relating to intellectual property; and significant costs incurred as a result of operating as a public company. These and other important factors discussed under the caption Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2022 and our other filings with the Securities and Exchange Commission could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent managements estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

- Financial Tables Follow -

HOMOLOGY MEDICINES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

December31,

2022

2021

Cash, cash equivalents and short-term investments

$

175,026

$

155,873

Assets held for sale

28,907

Equity method investment

25,814

Property and equipment, net

1,078

2,252

Right-of-use assets

20,563

15,607

Other assets

5,989

9,082

Total assets

$

228,470

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Homology Medicines Reports Fourth Quarter and Full Year 2022 Financial Results and Recent Highlights - Yahoo Finance

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Andrew Painter has UCL sprain, will be shut down for four weeks – The Morning Call

CLEARWATER, Fla. The long-awaited Phillies medical update on Andrew Painter arrived Friday, and its not the best news. It also isnt the worst.

Painter has a sprain in his ulnar collateral ligament, and the 19-year-old prospect will rest for four weeks to see if he can avoid Tommy John surgery.

Painter had an MRI-arthrogram March 3 which revealed what manager Rob Thomson took pains to call a mild sprain. That diagnosis by team doctors was confirmed in a consultation with Dr. Neal ElAttrache, the surgeon who performed Bryce Harpers Tommy John procedure in November.

Obviously, its a bummer, Painter told media at BayCare Ballpark. You want to stay healthy, but at the end of the day, weve got to do whats right for the long-term. Its a long season. Weve got to take the precautions now and make sure Im healthy for the middle and the end of the year.

The sprain means a degree of stretching and/or minor tear in the ligament. Severe tears require reconstruction, which is the Tommy John procedure.

Like Harper, who tore the UCL in his right elbow last year, the Phillies will try to rest Painter to see if it heals, then re-evaluate him as he begins a light throwing program. The four weeks are from the date of his last outing, March 1. The treatment plan does not include platelet-rich plasma injections, which Harper had last year in his unsuccessful bid to avoid going under the knife.

Painter reported a tender feeling one day after his outing against Minnesota. He said nothing felt amiss during that start. Finalizing a diagnosis has taken a week, a process of patience for Painter.

Its been interesting, he said. Theres been a lot of concerns and weve been waiting a little bit. But Ive been fine. I havent been too worried about it. With our medical staff and everyones that had a say in this, theyre very experienced and they know what theyre doing.

All things considered, Thomson feels OK with the diagnosis. UCL strains dont automatically lead to Tommy John one example is Aaron Nola, who was shut down in August 2016 with a low-grade UCL strain. He avoided surgery and has become an All-Star workhorse since.

Nola sought out Painter when he heard about the younger pitchers issues last week and shared his experience, which included eight weeks off (it was the end of the season) and a PRP injection.

Hes 19. Nineteen-year-old bodies heal a lot quicker than 29-year-old bodies nowadays, Nola said. I pray for him, I hope everything works out, hope he doesnt have to get surgery, hope he heals really quick and its nothing super big.

This is a common thing, Painter said. Other people have experienced this. They know what were doing is right.

Painter is the Phillies top prospect and ranked by MLB.com as the sixth best in baseball. He went 6-2 with a 1.48 ERA last year in Single A and Double A, striking out 155 batters and walking 25 in 103.2 innings. He had been competing for the fifth spot in the rotation.

Given his age and potential, its possible this could help the Phillies later in the season. Painter will be on an innings limit so early in his career, and innings he misses in April might be available come September and (the Phillies hope) October.

For the rest of spring, Painter will be positioning himself for when hes able to throw again.

Its just staying on top of the recovery process and make sure I do everything in my power to make sure this recovery goes as well as planned, he said. And then just try to get on the mound whenever the time is right.

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Andrew Painter has UCL sprain, will be shut down for four weeks - The Morning Call