Third Round Financing to Bring Medical Marvel Closer to Fruition
An innovative new stem cell technology that could potentially benefit patients of many conditions - including sickle cell anaemia - has moved a step closer to becoming a worldwide standard, thanks to the help of investors from the Arab world. With their continued support the company says its stem cell technology is poised to transform the lives of millions currently suffering from debilitating diseases.
The successful completion in India of human proof in principle trials of the innovative process, which could spell relief for those afflicted with anaemia, diabetes and other ailments was announced this week by TriStem, a company founded in 1999 by Saudi medical specialist Dr. Ilham Abuljadayel and her husband, investment banker, Mr. Ghazi Dhoot.
The treatment, based on more than a decade of research, challenges the fundamental basics of cellular biology. It has enormous potential within the Arab world, home of a number of TriStem's investors and ironically a region with an unusually high incidence of anaemia and diabetes.
Although the path from discovery to distribution of new medical technology is a long and expensive one, the success of Dr. Abuljadayel's recent proof of principle trials in India have been a crucial part of the building blocks needed to prove the process is safe and effective.
"We recently undertook pre clinical trials to give us the proof of performance necessary in order us to raise funds on our third round of financing. This will commence in October of this year," announced Mr. Ghazi Dhoot. "We aim to raise US$30 million through private placement with select high net-worth investors to help us take the work to the next level."
The pioneering technique, which was discovered by Dr. Abuljadayel in 1990 uses blood from the patient, which she converts back to its original, pre specialised state - known as a stem cell. The technique, retro-differentiation, works with the patient's white-blood cells creating a supply of stem cells, which can be grown into any number of different cell types to treat many complex and previously untreatable conditions. Because the patient becomes his own donor, there is no risk of rejection by the immune system. This process has been patented worldwide since 1994.
"Stem cell research is nothing new," explains Dr. Abuljadayel. "Scientists worldwide have been exploring all aspects of these "blank slate" cells for years. The reason for the wide spread interest in them is that they are capable of growing into any type of adult cell."
"However, the topic of stem cell research creates controversy throughout the world due to the source of the cells - aborted fetuses or placental tissue. But this controversy may end soon with this new technology," she continued. TriStem's ability to ultimately provide patients with an endless supply of personalized stem cells is a veritable gold mine in biological terms.
"This research has been met with more skepticism than intrigue. Thankfully, it has finally been recognized on an international level and as investors we are extremely pleased that it has begun the trek up the ladder of required approvals," said Ihab G. El-Hashani, a Saudi businessman and one of TriStem's investors.
Using the TriStem-grown stem cells, four patients in India who suffered from previously incurable aplastic anaemia have had their condition arrested. Aplastic anaemia is a particularly unpleasant form of the disease wherein the patient's bone marrow stops making enough red blood cells, immune cells and platelets for the patient's needs. Sufferers of this disease usually require multiple blood transfusions a month just to be able to survive.
One of Dr. Abuljadayel's patients required five transfusions a month to stay alive, and even then he was bed-ridden and his body was barely able to function. Just three months after being treated with his own TriStem-treated stem cells he was up and moving about, meeting with friends and living a seemingly normal life.
This treatment has been met with much criticism and disbelief, mainly due to the speed of the treatment, just a few hours of the cells being treated and then less than a month for recovery. Most scientists who have been in this field for some years have grown accustomed to the lengthy process of harvesting and then encouraging the stem cells to grow into the proper cell types, not to mention the life-long process of treating patients even after successful operations.
By using an antibody, CR3/43, which is manufactured by a Danish firm DakoCytomation, Dr. Abuljadayel is able to coax the adult white blood cells to retro-differentiate back to their stem cell state. From there, using an array of different growth factors, she is able to create almost any type of cell the patient may need.
Thus far she has been able to consistently re-grow bone marrow and stimulate the growth of extremely specialized heart cells.
In a recent interview conducted by "New Scientist" (9 October 2004 p39), Dr. Richard Boyd, an independent stem cell researcher from Monash University in Melbourne, Australia, commented on Dr. Abuljadyel's treatment, which he witnessed being performed on the patients in India. If her technique is proved to work, it could be "Nobel prizewinning stuff", said Boyd. "They are genuine people," he explained further. "...After six days, this guy (one of the patients) had platelets and neutrophils which he never had before. In all four patients, they've had an effect."
"Much more research is required before this research is accepted within the scientific community," said Dr. Abuljadayel. "Clinical testing and placebo experimentation will especially be needed before many scientists decide the work we are doing is worth a second look."
The value of Dr. Abuljadayel's work is not lost on anyone though, critic or advocate, because of the vast range of illnesses and diseases which have the potential to be cured by her treatments.
-Ends-
About stem cells
The early embryo is composed of a ball of cells which then differentiate into the various different cell types, eventually forming a living being. These embryonic stem cells are the most versatile of stem cells for this reason. Once adulthood is reached, these embryonic stem cells cease to be present. A certain amount of semi-specialised cells remain in the adult, although these cells are not at all as versatile as embryonic stem cells
Embryonic stem cell research has been under scrutiny since it began years ago due to the ethical problems encountered when trying to harvest the cells to conduct the research on. These cells are harvested from embryos, where the largest concentration of "blank slate" cells can be found, and whether the embryos are specifically created for the purpose of harvesting the stem cells, in-vitro fertilization spares or clones, anti-abortion groups vehemently protest their use.
Issued on behalf of TriStem by Hill & Knowlton.
For further information please contact
Ghazi Dhoot of TriStem on
tel: (+44) 20 7722 5449 or
email: gdhoot@tristemcorp.com
Or
Sami Amin of Hill & Knowlton on
tel: +973 17 53 3532,
e-mail: sami@hillandknowlton.com.bh
© Press Release 2004
