BioRestorative Therapies (OTCMKTS:BRTX) is a biotech company that is involved in the development of therapies that are derived from tissue and cell protocols. The company primarily uses adult stem cells for this purpose. At this point in time, the company is involved in the development of two distinct treatments.
One is for metabolic disorders and the other is for treating spine or disc disease. Recently there have been other important developments with regards to these programs as well. Last week the company made an announcement with regards to as many as three patent applications in relation to BioRestorative Therapies’ ThermoStem® Program. The program in question is the one related to the product being prepared for metabolic disorders.
BioRestorative announced that it received notices of allowance with regards to the three separate patents from not only the United States Patent Office but also international agencies in other parts of the world. It is a significant development for the company and constitutes another step in the right direction for its ThermoStem® Program.
The notices of allowance that were awarded to BioRestorative were from as many as seven countries. The countries in question are the United Kingdom, France, Germany, Israel, Spain, Italy, and the United States. It is believed that the patents could be issued at some point this year.
The two programs mentioned earlier are the two main points of focus for BioRestorative Therapies at this point in time and earlier on this year, the company also provided key updates in a letter to the shareholders.
While providing updates on its goals with regards to the two programs, the Chief Executive Officer of the company Lance Alstodt stated that the company had been successful in emerging from the reorganization that had taken place following the filing of Chapter 11. More importantly, he pointed out that despite the reorganization and the financial difficulties faced by BioRestorative, the company managed to hold onto its intellectual properties.
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