As the first company in the United States to provide an adipose-derived stem cell service to veterinarians for their patients, VetStem holds exclusive global veterinary licenses to a portfolio of issued patents in the field of regenerative medicine and owns a number of patents and patent applications. We believe these patents are an important way to strengthen our intellectual property in the rapidly developing field of regenerative medicine.

As leaders in the field, VetStem contributes to the development of the regenerative medicine market. As such, we have invested heavily in patent protection of our technology and recently engaged appropriate counsel to pursue licensing and patent enforcement. Our goal is to provide opportunities to potentially infringing companies to license one or more of our patents to utilize in their own business model. This creates a win-win situation for everyone involved, including the customers who potentially benefit from the technology.

We recently completed licensing deals with multiple companies for use of our patented technology. These deals mean that the other companies can continue using and profiting from our technology while VetStem earns revenue to invest back into the company. For instance, a recent sublicense by one of our licensees brought VetStem $1.75 million in upfront licensing revenue. Thus, these licensing deals help optimize the value of our company and further solidify our stake in the market.

With ongoing research and development, VetStem endeavors to stay at the forefront of the field. Since the first VetStem recipient in 2004, VetStem has processed nearly 14,000 patient samples, resulting in over 30,000 stem cell treatments. Without our dedicated clientele, veterinarians, and pet owners alike, we could not do what we do!