Lifeline Cell Technology expands capabilities 12th July 2018
International Stem Cell Corporation announced that its wholly owned subsidiary, Lifeline Cell Technology (LCT), has expanded its business and manufacturing capabilities to fulfill current and forecasted demand.
In 2017 alone, LCT’s annual revenue growth outperformed 2016 by over 20 percent. And in Q1 2018, LCT experienced more than a 50 percent increase in sales growth from the prior year quarter. During this time, several projects have been completed that greatly improved LCT’s manufacturing capabilities, allowing LCT to meet the growing demand of its products.
The upgrades have been made in all operational departments, including new equipment that has significantly improved its manufacturing and testing capabilities, now handling quadruple its original batch sizes. LCT has also hired additional staff in manufacturing and is in the process of expanding its facilities to include a formulation lab, a warehouse, and more working space.
“We continue to receive positive feedback from both new and current customers on the performance of our products and the efficiency of our distribution channels. Customer loyalty, our growing catalog of items, and increasing research and development spent in the biomedical market should help us continue our sales growth” commented Andrey Semechkin, PhD, co-chairman and chief executive officer of ISCO.