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Forticell Bioscience Inc fka FORBQ RSS Feed

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4
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Created
04/15/08
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http://www.forticellbioscience.com/ State the number of shares outstanding of each of the issuer’s class of common equity, as of the latest practicable date: 13,678,015 as of March 21, 2008 In response to our email inquiry to the FDA regarding the status of our Pre-Market Approval Application (PMA) for the use of OrCel® in the treatment of venous stasis ulcers we received an email late in the day April 3, 2008 stating that the FDA was going to be sending us a formal response in the next week or so and that it would likely conclude that our PMA was not approvable. No additional information was provided other than the fact that the FDA staff had concerns regarding our data. As we stated in our recent 10 KSB filing, we believe a non approvable letter will make it difficult to impossible for us to raise additional financing. Therefore to minimize expenses we will be immediately terminating the majority of our workforce as we await the formal FDA response and determine what course of action to follow in the future. Corporate Overview Features Founded in 1991 to develop a tissue- engineered product now known as OrCel® Publicly traded company since 1996 Raised nearly $150 million to fund R&D Fully integrated organization -- approximately 40 employees FDA approved cGMP FDA approved cGMP pilot manufacturing facility Initial focus on treatment of acute and chronic wounds - granted two FDA product approvals for non-cryopreserved OrCel®
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