The Cryoport Biotech Regenerative Therapy Activity Index (the "CoBRA IndexSM") quantifies the activity in the development and clinical trials of regenerative therapies in the United States, and acts as a means by which investors, the media and industry participants can use the Index to help evaluate investment in the space. The CoBRA IndexSM is being launched by Cryoport, Inc. a cryogenic logistics solutions provider dedicated to the life sciences industry.
Regenerative therapies encompass an array of technologies and therapeutic approaches, the vast majority being cell and gene therapies, which are showing signs of revolutionizing treatment for a wide variety of diseases, ranging from hemophilia to cancer. Each of these clinical programs follow complex procedures which are initiated with patient recruitment for trials, pre-treatment medical procedures, manufacturing and product released via complex analytical testing and concluding with patient dosing.
The CoBRA IndexSM measures and distills the data from the flow of the processes against clinical trials and provides a unique view of the flow of therapy progression within the regenerative medicine space. Consistent or accelerating activity generates larger values which are aggregated into the index number.
Jerrell Shelton, Chief Executive Officer of Cryoport, commented, "Cryoport, as the industry leading provider of cryogenic logistics solutions to the Regenerative Therapy industry, has a unique view, in fact, a virtual real-time insight into the progress of this industry. We created the CoBRA IndexSM to provide industry participants and those following the industry with valuable activity and trend information at a time when the industry is reaching an inflection point with many therapies approaching commercialization."
The CoBRA IndexSM draws upon data generated from the regenerative medicine industry since Q1, 2015. In the fourth quarter of 2016, the CoBRA IndexSM increased approximately 4% to 169, compared with 162 in Q3, 2016. This compares to 36% growth in the index in Q3, 2016 against Q2, 2016. Some of the slowdown in Q4 could possibly be attributed to uncertainty surrounding the U.S. presidential election and the regulatory environment, which may account for companies diverting investment dollars into advancing later stage trials.
Existing regenerative medicine trials represent 94% of current pharmaceutical research. The outlook remains bullish as the first CAR-T program has filed for FDA approval and five more regenerative therapies have indicated an intent to file for commercial approval in 2017.
As of October, 2016, there has been more than $17 billion invested in the development of regenerative therapies. It is estimated that regenerative therapies will generate more than $50 billion in annual revenues by 2021 and $250 billion by 2025.