PolarityTE 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.
“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.”