Stem Cells have Commercial Potential for Ireland
Wednesday, 4 July 2012
Ireland has the capacity to be an international centre for commercialisation in the field of regenerative medicine, delegates at an international stem cell conference in NUI Galway heard today.
Reflecting this potential, new Irish company Orbsen Therapeutics is developing proprietary technologies designed to isolate stem cells. The NUI Galway spin-out is targeting the rapidly maturing and expanding regenerative medicine market, which is expected to grow to $118 billion next year.
Frank Barry is Professor of Cellular Therapy at NUI Galway, Director of Orbsen Therapeutics, and organiser of the Mesenchymal Stem Cell Conference which opened yesterday.
Mesenchymal stem cells (MSCs) are a type of adult stem cell, and this event brings together the world’s leading scientists in the field to discuss their latest ideas and findings. This is the first major stem cell conference to take place in Ireland, and is looking at all aspects of adult stem cells, from basic biology to manufacturing to clinical trials and therapeutics.
Stem cells hold great promise as an alternative to drugs and surgical procedures for treating a wide range of medical conditions including heart disease, arterial disease of the limbs, diabetes complications, arthritis and other inflammatory conditions. The treatment potential of stem cells is linked to their natural capacity to dampen inflammation and promote healing, repair and regeneration of damaged tissues.
According to Professor Barry: “Ireland has a strong research base in adult stem cell therapy and has the capcacity for advanced stem cell bioprocessing. There is huge potential in this market and we anticipate that there will be extraordinary growth over the next 5-10 years. There are currently over 400 regenerative medicine products on the market with many more in development.”
Orbsen Therapeutics has developed a clear pipeline of clinical indications which they hope, using their proprietary technologies, to bring through to clinical trial over the coming years. These include osteoarthritis, acute lung injury syndrome, diabetic foot ulcer, critical limb ischemia and others.
“Combining the utility, novelty and the value of its technologies, Orbsen is well placed to take advantage of the many opportunities in this fast moving and important emerging market”, said Brian Molloy, CEO of Orbsen Theraepeutics.
Orbsen Therapeutics Limited was formed as a spin out company to develop and commercialise new intellectual property built up by researchers at the SFI-funded Regenerative Medicine Institute (REMEDI) at NUI Galway.
Scientists at NUI Galway are investigating how adult stems cells might be used to develop new treatments for vascular disease, osteoarthritis and lung injury. The University has become a leading centre of translational research in adult stem cells involving its National Centre for Biomedical Engineering Science (NCBES) and REMEDI.
The conference is supported by Orbsen Therapeutics, Science Foundation Ireland, NUI Galway and Fáilte Ireland.