Provia Laboratories, a leader in cGMP Dental Stem Cell Banking and Manufacturing, announces it executed a Memorandum of Understanding for an Institutional Equity Financing.
LITTLETON, MA (PRWEB) APRIL 04, 2016
The proper collection, transport, processing, testing and preservation of stem cells is a crucial and significant part of the regenerative medicine value chain and stem cell therapy. The stem cell therapy market is estimated to exceed $180B in 2030. In preparation for a future where stem cell therapies are a significant part of healthcare, companies have provided stem cell banking services from bone marrow and umbilical cord blood for over two decades. Thousands of patients have been treated with stem cells already and well over a million families have privately preserved stem cells for their families own future use.
Recent discoveries in the past 10 years identified additional sources of valuable stem cells derived from dental pulp. These cells have unknowingly been discarded as biological waste, but contain valuable solid tissue forming stem cells called mesenchymal stem cells (MSCs), and have shown to generate growth and repair of bone, cartilage, tendon, nerve and heart tissue
Provia Laboratories focuses on MSCs, and specifically the autologous (cells from you, for you) use of MSCs. Provia’s core business, a service called Store-A-Tooth™, allows families to bank the MSCs in their children’s baby teeth and wisdom teeth for their future stem cell therapy. Provia recently completed a multi-million dollar launch of a new cGMP stem cell processing laboratory and storage facility in Littleton, MA allowing it to process its client’s cells in a way that optimizes their potential use in the future.
Store-A-Tooth has proven to be a market success – with continued growth year after year. “It is no secret that stem cell therapy will have a considerable impact on our children’s future health – the market understands this. It is therefore no surprise that parents value Store-A-Tooth as one of the few opportunities we have as parents to collect and preserve our children’s stem cells when our children are young, and their cells are healthy.” says Howard Greenman, CEO of Provia. Mr. Greenman adds, “We have prepared our business to scale, and plan to work nationally with dental and oral surgery offices, expand our direct to consumer activities, and bring our technology to additional markets through partnerships.”
The Provia team has worked with Kang Zhuo Investment Group Limited based out of Hong Kong, Creation Way International Sdn Bhd based in Malaysia, Aether Alliance Pte Ltd based out of Singapore, and Provia’s Series A investors Grace Century, FZ. LLC, based out of the UAE to put together the capital necessary to fund the global expansion of Provia’s services.
Mr. Yu Chi Leung , CEO of Kang Zhuo Investment Group Limited said, “We are excited to work with the team at Provia and believe their technology is in great demand throughout Asia and other parts of the world. The funds invested as part of this financing will allow Provia to rapidly expand the market in the US while working with partners to bring the technology overseas.” The terms of the investment are not disclosed.
About Provia Laboratories, LLC
Provia Laboratories, LLC (http://www.provialabs.com) is a healthcare company headquartered in Littleton, MA which specializes autologous (cells from you, for you) stem cells. Provia’s core business is the preservation of mesenchymal stem cells found inside teeth, Store-A-Tooth (http://www.store-a-tooth.com). Store-A-Tooth is offered throughout dental and oral surgery offices throughout the United States and available through partners in Central American and Singapore.