A concentration of stem-cell-related companies may eventually grow out of work at the University of California-Irvine, but one of the institution’s pioneer researchers expects it to take a while to come to fruition.
“I know that there’s a lot of interest in commercializing some of the technologies,” said Hans Keirstead, president of Irvine-based California Stem Cell Inc.
The company is being bought by New York-based NeoStem Inc. in a deal worth $34 million at base but that could reach $124 million with milestone and royalty payments.
Keirstead said he didn’t see companies “right now” that are on the level of California Stem Cell, which is about to start a third-stage clinical trial for melanoma, or skin cancer.
He wouldn’t dismiss the possibility of a stem cell concentration taking root in Orange County with UC Irvine as the catalyst. He founded the Sue and Bill Gross Stem Cell Center at the university and recently left his professorial position there.
“There are a lot of individuals who are interested in spinoff companies and working with an existing stem cell company,” Keirstead said.
He noted that Octane, the Aliso Viejo-based technology booster group, has been working closely with researchers at the Gross center in order to “give birth to new (stem cell) companies.”
“UCI is becoming more progressive in entrepreneurial activities for professors and
providing the support for them,” Keirstead said.
UC Irvine announced in February that it was establishing Institute for Innovation, another in its various efforts to foster entrepreneurialism and technology development. The institute’s goal is to help commercialize the school’s research.
UC Irvine has a relatively short history of fostering companies compared to other private and public universities in California. The technology alliances office’s website lists 38 companies founded to commercialize research done at the university.
FDA OK for Breathe
Irvine-based medical device maker Breathe Technologies Inc. said the Food and Drug Administration granted it a 510(k) clearance for its Non-Invasive Open Ventilation system to provide breathing support to patients with neuromuscular diseases that don’t require oxygen to help them breathe.
Breathe has four previous clearances that cover the use of the wearable device with compressed oxygen for home and institutional use.
Patients with diseases such as multiple sclerosis and amyotrophic lateral sclerosis, or Lou Gehrig’s disease, can use the device, the company said in a news release.
Breathe moved to Irvine in 2011 from the Bay area community of San Ramon because of the number of medical device workers in South Orange County and northern San Diego County, Chief Executive Larry Mastrovich told the Business Journal that year.
“It is close to people—we have 10 competitors that are in the marketplace that we can recruit talent from,” said Mastrovich, who was previously president and chief operating officer of Lake Forest-based Apria Healthcare Group Inc.
Breathe’s competitors include CareFusion Corp. and ResMed Corp., both in San Diego; Philips Respironics, a suburban Pittsburgh unit of Netherlands-based Royal Philips Electronics NV; and New Zealand-based Fisher & Paykel Healthcare, which has an operation in the Netherlands.
Disc Sports Adds Division
Disc Sports and Spine Center said this month that it added a division in its Newport Beach operation.
The Newport Beach Spine Group special-izes in neurological and orthopedic spine disorders.
Disc has been in Newport Beach since 2012 and concentrates in minimally invasive spine procedures and advanced microscopic surgery techniques. It also has a location in Marina del Rey.
Drs. Robert Bray Jr. and Richard Kim are the group’s co-directors. Surgeons include Drs. Sanjay Khurana, Hooman Melamed, Hamid Mir, John Regan and Amir Vokshoor. There are other doctors who specialize in pain management, brain surgery and chiropractic care.
