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Biotechnology
About Proteonomix, Inc.
(PROT-OTC: BB)
187 Mill Lane,
Mountainside, NJ 07092-2909
Phone: 973-544-6116
www.proteonomix.com
Proteonomix, Inc. is a biotechnology
company focused on developing therapeutics based upon the use of human cells
and their derivatives. Proteoderm, Inc., a wholly owned subsidiary of
Proteonomix, has recently opened its retail web site, Proteoderm.com, and
began accepting pre-orders for its anti-aging line of skin care products.
StromaCel, Inc.'s goal is the development of therapeutic modalities for the
treatment of Cardiovascular Disease (CVD). StromaCel, Inc. is pursuing the
licensing of other technologies for therapeutic use. National Stem Cell,
Inc. is Proteonomix's operating subsidiary. The Sperm Bank of New York,
Inc., engaged in reproductive tissue banking, including sperm, ova, ovarian
tissue and testicular tissue, is a subsidiary of National Stem Cell, Inc.
Proteonomix Regenerative Translational Medicine Institute, Inc. ("PRTMI")
intends to focus on the translation of promising research in stem cell
biology and cellular therapy to clinical applications of regenerative
medicine. Proteonomix intends to create and dedicate a subsidiary to each of
its technologies.
 Michael
Cohen, President, Chief Executive Officer and Chairman of the Board.
Michael Cohen has served as our President,
Chief Executive Officer and Chairman of our board of directors since
September 12, 2006. Michael Cohen began his career as a paramedic for NYC
EMS in 1989. He joined Americorp Securities as a Vice President in its
mergers and acquisitions department in 1994. He was instrumental in
launching a number of successful IPOs at Americorp Securities. He was
recruited by Dafna Construction in 1995 as its CFO and played a principal
role in its growth and subsequent purchase. In 1997, Mr. Cohen joined
Citigroup as a Vice President of Corporate Finance and managed a department
in the risk management division of Salomon Smith Barney. In 2002, Mr. Cohen
founded National Stem Cell Inc, our operating subsidiary. Mr. Cohen serves
as our Chairman of the Board and President as well as the Principal
Investigator for most of our therapeutic developments. Mr. Cohen attended
Skidmore College and graduated with a Bachelor of Science from Haifa
University in 1988.
Interview conducted by: Lynn
Fosse, Senior Editor, CEOCFOinterviews.com
Published – August 22, 2010
CEOCFO: Mr. Cohen, what was your vision for Proteonomix when you
started, and where are you today?
Mr. Cohen: The vision for the company at
its inception, which was approximately ten years ago, was based on two
documents that I had written. The first document contended that the future
of stem cell medicine or regenerative medicine would rely on identification
that was based on something called Immunological isolation. The second was
really something that was fundamentally more specific to a format of
business that was a little different than what existed in the market. It was
that any company that endeavored to enter into the regenerative medicine
field would be required to have a multifaceted R&D department. For example,
if you are attempting to create a therapy for diabetes you needed to be a
company that was going to be able to develop a medium in which to grow the
cells, a medium in which to expand the cells, a method for the
identification of the cells and then a mechanism to convert and deliver the
cells as a part of a therapy. As I mentioned before these were the initial
visions that started the company and that have led it to many incidental
findings along the way. Today the company has five different subsidiaries
that have come from the R & D developments that this company has achieved.
CEOCFO: From a business perspective, why
have separate companies and not just groups within your organization?
Mr. Cohen: From a business perspective,
it made absolute sense to separate some of our intellectual properties into
five different subsidiaries. To begin understanding why we have done that
separation, you have to understand that each of these individual products is
not within the same field. For example, we have a product that is in the
cosmeceutical field, which was an incidental finding from the work that we
were conducting in cardiac therapy as well as diabetes R & D. However, it is
not related from a business perspective and from a management perspective to
cardiac therapy or diabetes research or any of the other business modalities
that the company maintains. So as a corporate entity we made a decision that
we were going to separate the businesses and the intellectual properties
into subsidiaries where each one will be managed by a group of individuals
that had the background in that particular field of the entity the managed.
For example, Proteoderm, Inc. was created to really be the flagship for our
cosmeceutical intellectual property, and it is managed by a team of
individuals who come from that field. These are dermatologists, managers,
and businessmen who have been involved in the cosmetics industry for many
years. This format allows us to create subsidiaries that are very focused on
their business.
CEOCFO: Would you tell us about your
subsidiaries?
Mr. Cohen: We have several subsidiaries. Proteoderm, is our
Cosmesutical division and has developed our first product to come to market
Proteoderm NC 138. The product is unique because of the nature of its action
on facial tissue StromaCel, Inc., is our newest subsidiary and focuses on
cardiac therapy and is where StromaCel NC is being developed. StromaCel NC
is a unique product that is based on technology that we have developed to
assist in the regeneration of damaged myocardial tissue post MI. StromaCel
NC is unique because 1) it has the potential to reduce myocardial
inflammation 2) increase angiogenesis at the site of the MI 3) repair of
damaged myocardial tissue. StromaCel NC is our first therapy and we hope to
bring it to market as quickly as possible through formal FDA trials, as well
as other business modalities that we have designed. Our other subsidiaries
include SBNY (Sperm Bank of New York, Inc.), which is a tissue bank that is
involved in the cryo-preservation of sperm, eggs and other tissues as well
as in IVF (in vitro fertilization) procedures in the United States. SBNY is
a revenue generating business we purchased SBNY in 2005 and have been
developing it very slowly. From what we have learned at our laboratories and
based on what we believe will be the future of cellular therapy we have
created the PRTMI (the proteonomix regenerative translational medicine
institute). The PRTMI has developed a mobile cellular laboratory. This
particular business focuses on what we believe will be the future of
cellular therapy. Cellular therapy differentiates itself from what we know
as Pharmacological therapy. Pharmacology requires a single manufacturing
plant to produce its drugs Cellular therapy, requires multiple sites in
order to produce cellular products more efficiently but also more homogenous
with the local population in which the facility services. For example, when
we manufacture cells that we are going to use to treat patients in the Asian
continent, we would like to produce a cellular product that will be closely
matched to the Asian population. A PRTMI laboratory is a CGMP facility that
manufactures cellular products under specified SOP and QAQC. SOPs refers to
standard operating procedures and QAQC refers to Quality Assurance and
Quality Control. We intend to build multiple facilities based on our current
model throughout the globe. Once these facilities are operating, we intend
to use them to produce multiple cellular products. Further, we intend to
utilize these facilities to assist in our future clinical trials
CEOCFO: You have some moneymaking
projects; what is the financial picture of Proteonomix today?
Mr. Cohen: The company has been in the
red for several years because it was developing new innovative products.
However, unlike other small research and development companies that are
cash-hungry and tend to burn up cash. Our business model relied on internal
growth and thus did not burn cash at a very rapid rate. We have reached a
plateau in our development where we are looking forward for substantial
revenue in the near future. Our Proteoderm division is projected to launch
its first product this year. The product will launch in the United States
first and then expended to the global market .We have already began to
accept preorders online. StromaCel is seeking approval for its lead product
globally. Further, the company has forayed into Medical Tourism in order to
begin generating revenue. We anticipate that our cash flow will improve
dramatically in the next year based on these two subsidiaries. In the long
term, we anticipate that both these products as well as other products that
we intend to bring to market as early as 2011, will grow our cash flow.
CEOCFO: So things are getting exciting
for you!
Mr. Cohen: We believe that this is the
tip of the iceberg if you will. We have been working for this particular
moment for about ten years and our team is very excited..
CEOCFO: You recently became a bulletin
board company; how has that changed things for you?
Mr. Cohen: It has been a very long and
difficult process to get to this point. For many years did not look at the
stock market as a major mechanism for finance. However, we are entering a
new age where the growth of the company depends on its valuation and
obviously on its ability to increase its disclosed information to the rest
of the market. Therefore, by being a public company, we felt that moving to
the Bulletin Board would be one mechanism in which we can validate ourselves
to funds and banks and investors. The bulletin Board is an essential step in
the ability of the company to reach other markets. (For example the Nasdaq).
CEOCFO: What would you tell potential
investors about the company and what might they not understand that they
really should?
Mr. Cohen: I think there is a general
misconception of what this company is about, the misconception arises from
the multiple businesses that company owns. I believe that most investors
should be aware of the synergy that exists between our subsidiaries. For
example, our R&D in our subsidiary National Stem Cell Inc., utilized
material from our other subsidiary SBNY to develop products for our
Proteoderm subsidiary. What we would like to express to potential investors
is the fact that when you invest in Proteonomix you really invest in several
companies that are leading the way into the age of cellular medicine. When
you invest in Proteonomix, you invest in a synergistic business model that
reduces the cost of development and increases revenue.
CEOCFO: Regenerative medicine is
something people are looking at a lot, but there are also many people that
still are concerned about stem cells and don’t understand. What do you say
to people that are a little leery?
Mr. Cohen: The fear that makes someone
leery of regenerative medicine is based on the notion of cloning and the
destruction of life. Regenerative medicine utilizing stem cells is the first
step toward the future of medicine In the early part of this decade
Regenerative medicine was thought as a mechanism to recreate or rebuild
tissue utilizing stem cells. The initial discoveries were based on embryonic
stem cells, which demonstrated that a single cell can be replicated into
every other cell in the body. Later studies demonstrated that other cells
that are derived from a non-embryonic source might have the ability to do
the same. The true future of regenerative medicine is yet to be
demonstrated; it lies in something called the Proteome. The Proteome is the
makeup of our genes. It is where we derive our name and where our future
research is heading. Gene therapy is the future of regenerative medicine.
Gene therapy will be able to correct malfunctioning genes that are
responsible for many diseases internally. A recent publication of the Wall
Street Journal, has begun to demonstrate the ability of this science. The
future of regenerative medicine does not rely only on embryonic stem cells
but rather on the corrections of our genes.
CEOCFO: Final thoughts, what should
potential investors remember most about Proteonomix?
Mr. Cohen: Regenerative medicine and the
potential of regenerative medicine really lies in the companies that have
the foresight to develop technology and business model that will succeed in
the new era of medicine. Proteonomix was developed specifically from that
perspective. Potential investors should understand that our goal is to
develop therapies that may be used in short term as well as long term
solutions to diseases. We have achieved our initial goals by bringing to
market our first products in a long pipeline of product. Further investors
should understand that an investment in Proteonomix is and investment in a
business model that has several companies in its portfolio.
disclaimers
Any reproduction or further distribution of this
article without the express written consent of CEOCFOinterviews.com is prohibited.
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