GIOSTAR Launches Subsidiary to Combat COVID-19 and Long COVID
Stem cell research institute seeks to ramp up the charge against global pandemic
SAN DIEGO, May 5, 2021 /PRNewswire/ — Global Institute of Stem Cell Therapy and Research (GIOSTAR), the worldwide leader in regenerative technologies, is pleased to announce the formation of GIOCOV. The company – launched in tandem with TAG Investment Bankers LTD of London (TAG) – is a wholly-owned subsidiary aimed at delivering stem cell-based treatments for the acute phase of COVID-19, along with the chronic phase (known as Long COVID).
A Long Haul for Millions
As of May 2021, roughly 280 million individuals have been fully vaccinated against COVID-19. The worldwide rollout has helped contain the impact and reduce the high morbidity rates of the disease – which has claimed more than 3 million lives. However, data reveals that, even after recovering from COVID-19, many patients continue experiencing a compendium of debilitating symptoms known collectively as Long COVID.
These “long-haulers” may experience one or both of the following:
- Symptoms experienced throughout the course of COVID-19: fatigue, cognitive impairment (brain fog), difficulty breathing, headaches, difficulty exercising, depression, sleep difficulty, loss of sense of taste or smell
- New symptoms: hair loss, anxiety, and heart problems
In a study conducted by the Centers for Disease Control (CDC), roughly 1 in 3 patients (including both mild and severe cases) observed suffered from highly debilitating symptoms of COVID-19 several weeks after their diagnosis. Even more alarming, a University of Leicester investigation found that 7 in 10 patients hospitalized for COVID-19 didn’t fully recover 5 months after discharge. These grim statistics point to a dire global health crisis, with enormous projected costs of management.
“Long COVID is very serious,” noted World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus. “To a significant number of people, this virus poses a range of serious long-term effects. The symptoms people have to endure are very debilitating, leading many to be unable to work and function properly.” Long COVID issues may ultimately culminate in chronic disease, requiring sharply increased levels of medication, long-term hospitalization, and debilitating lifestyle changes that will likely lead to premature death.
Extending the Impact of Novel Therapeutic Approach
GIOSTAR has played a central role in the fight against COVID-19. The US Food and Drug Administration (FDA) granted the firm FDA Approval Under Compassionate Use (Expanded Access Program) to treat COVID-19 patients – making GIOSTAR one of the first companies in the world to obtain this credential. Leveraging proprietary scientific protocols and techniques developed by Chairman and Co-Founder Dr. Anand Srivastava, GIOSTAR succeeded in treating several critically ill COVID patients using stem cells.
“The anti-inflammatory capabilities of stem cells make them an excellent therapeutic agent,” explained Dr. Srivastava. “Further, their ability to differentiate into myriad cells helps to restore organ function, thereby enabling [patient] recovery from the post-COVID-19 syndrome.”
GIOSTAR is looking to build upon its success in addressing the acute phase of COVID-19. With the launch of GIOCOV, the company is now pursuing the fully licensed status of stem cell treatment for COVID and Long COVID patients in the United States (US), United Kingdom (UK), and the European Union (EU). This goal will require completion of clinical trials to establish treatment protocols and secure full approval from FDA, Medicines and Healthcare products Regulatory Agency (MHRA), and European Medicines Agency (EMA) – the regulatory bodies for the US, UK, and EU respectively. Upon receiving this, GIOCOV seeks to gain acceptance from healthcare authorities, providers, and insurers alike for reimbursement of treatment costs.
“GIOCOV’s aim is to provide cost-effective treatment for all Long COVID sufferers worldwide,” noted GIOSTAR CEO and Co-Founder Deven Patel. “This will show huge cost-benefit against the cost of long-term medication and hospitalization and provide enhanced quality of life to patients all over the globe.” Given the results of the aforementioned study, more than 100 million long-haulers (representing 70% of the over 150 million total COVID 19 cases) stand to achieve enormous economic and health-related benefits from this initiative.
To realize these goals GIOSTAR – in collaboration with their advisors TAG Investment Bankers Ltd of London – intends for GIOCOV to raise funds to carry out the necessary trials through a listing on the London Stock Exchange (LSE), Nasdaq, and other stock exchanges. GIOSTAR also aims to secure funding from suitable grants.
GIOSTAR is pleased to officially announce its pre-IPO fundraising round, the details of which are available at the TAG Investment Bankers Website: https://twex.ch/giocov/
GIOSTAR is the pioneer and established leader in the field of stem cell science and regenerative medicine. Based in San Diego, California, USA, the company’s primary aim is to develop treatments for the masses suffering from metabolic and degenerative diseases around the globe.
GIOSTAR is a coalition of world-class scientists, physicians, and entrepreneurs in the field of stem cell science. The team members have been involved for the last 20 years in the development and utilization of stem cell-based clinical protocols related to degenerative, malignant, and non-malignant disorders. The adult stem cell technology is well developed and has been used regularly in the Institute’s clinical practice to treat many patients.
COO at TAG Investment Bankers Ltd
Tel: +44 7801 413597