22 May, 2017 – Invitrocue (ASX:IVQ) announced today that it will be expanding its cell-based assaying business into skin and wound healing. Invitrocue will develop robust and easy-to-use in vitro assays to assess the safety and effectiveness of consumer antiseptics and over-the-counter (OTC) wound dressing products. Invitrocue has signed a Master Services Agreement with Mundipharma Manufacturing Pte Ltd to develop in vitro skin and wound healing assays.
“This agreement will create a win-win commitment that results in both short and long-term benefits for Invitrocue,” said Dr. Steven Fang, Executive Director of Invitrocue. “We best serve our shareholders and our clients by customising relevant in vitro models; these assays will help to position Invitrocue as a competitive basin for our customers as current technology and know-how are implemented in the OTC and consumer health market,” he said.
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Invitrocue is a leading healthcare bio-analytic solutions provider including in vitro cell-based testing technologies and image analytics software for use in digital pathology. Invitrocue has developed a unique 3D cell-based scaffolding technology that mimics human organ samples for using in the field of infectious diseases. In 2016, the company expanded its work in liver disease to the field of oncology. The technology enables patient-derived cancer cells (organoids) to be cultured in laboratories for testing against a panel of drugs to support clinical decision making for individual patients (personalised medicine).
Invitrocue’s technology originated in Singapore’s Agency for Science, Technology and Research (A*STAR). Invitrocue has been developed and validated in partnerships with leading biopharmaceutical companies and scientific collaborators.
Invitrocue currently operates in Singapore and China and is listed on Australian Securities Exchange under the ticker IVQ. Website: www.invitrocue.com
About OTC Market
According to FDA, over-the-counter (non-prescription) drug products play an increasingly vital role in health care system. Although OTC drugs are defined as drugs that are safe and effective for use by the public without seeking treatment by a health professional, there is a need for in vitro models to ensure that OTC products conform to a final monograph’s requirements so that they may be marketed without further FDA review. (U.S Food and Drug Administration, 2016)