PolarityTE Acquires Operating GLP/USDA Preclinical Biomedical Research Facility

PolarityTE, (NASDAQ:COOL) announced the acquisition of a preclinical biomedical research facility in order to accelerate research and development of PolarityTE pipeline products. The facility is an already fully-functional, operational and profitable contract research organization (CRO) which is regulated and compliant under both Good Laboratory Practices (GLP) and United States Department of Agriculture (USDA) standards.

As quoted in the press release:

“This purchase was a strategically pragmatic way to further expand our already robust research and development programs, and integrate a new arm of the company—PolarityRD—which will function as an advanced CRO to help drive the field of biotechnology to deliver on the promise of exciting emerging technology,” said Denver Lough MD, PhD, CEO and Chairman of PolarityTE. “We look forward to updating the public shortly on PolarityRD and the momentum of our advancing research systems.”

Earlier this year, the Company hired Caroline Garrett, DVM., DACLAM, to serve as Chief Veterinary Officer, and she will be instrumental in helping to further develop the preclinical research program with this acquisition. Dr. Garrett previously served as Assistant Professor in the Department of Molecular and Comparative Pathobiology and Director of Large Animal Clinical Medicine and Surgery at Johns Hopkins University. She is a boarded laboratory animal veterinarian with 10 years of experience executing high impact preclinical biomedical research in academic, government and corporate settings.

Click here to read the full press release.