NuGene International Inc (OTCBB:NUGN) intends to develop unique new wound treatments that will combine the attributes of micro-current stimulation and the stem cell media. As per the National Institute of Health, the skin tissue keeps a skin battery that produces an electric field and passes current when wounded.
NuGene reported that in certain tests, numerous models showed that a large percentage of the cells within the wound are able to sense an electric field close to the wound. Following this identification, they respond with a number of functional and biological responses helpful in healing.
The company intends to use existing technology that releases matching electrical micro-currents in wound areas to support skin healing by regeneration of skin tissue and cell migration. NuGene idea of adding stem cell media will complement the electrical stimulus, developing an optimal environment for healing.
The new product will be formulated under the NuGene subsidiary firm. BioPharma previously reported the acquisition of SkinGuardian® which is an FDA approved antiseptic, skin protectant, and moisturizing topical cream. It has an antimicrobial composition so that it can be applied against a number of microorganisms such as viruses, bacteria, fungi and prions. It works as an effective guard for undamaged as well as damaged skin, and against infections.
Ali Kharazmi, the CEO of NuGene, stated that they believe they have an opportunity to develop a new standard therapy for the healing of wounds and various other medical conditions. They will continue to lead the research team to locate and design new measures to use the proprietary stem cell technologies.
Recently, the company reported revenue of $536,363 in 2Q2015 against revenue of $211,667 in 2Q2014.
NuGene International Inc (OTCBB:NUGN) collapsed by close to 10% during the trading session on the back of 2 times the average daily volumes, which is a bearish signal. It is imperative to state that the sell off was on the back of the fact that the stock wasn’t able to move above the resistance zone of $2.46. Traders on the street believe the stock would find support at levels of $1.38 in the near term. The momentum indicators continue to remain in the bearish zone which is pointing towards the fact that bears are in total control at the current moment.