NeoStem Announces Extension of Study Under Grant From California Institute of Regenerative Medicine (CIRM) to Fund Research o...
April 09 2015 - 7:30AM
NeoStem, Inc. (Nasdaq:NBS), a biopharmaceutical company developing
novel cell based personalized medicine therapies, announced today
the extension of its study under a 2014 Early Translational grant
from the California Institute of Regenerative Medicine for research
leading to the development of a treatment for retinal diseases,
including macular degeneration and retinitis pigmentosa.
Under the $4 million grant made to the University of California,
Irvine, NeoStem is entitled, through a subaward, to $1 million of
new funds adding to the original $0.5 million awarded. The goals of
the research are to generate three-dimensional retinal tissue, to
investigate the ability of adult induced pluripotent stem cells to
restore sight in rodent models of retinal degeneration and to make
eventual preparations for clinical use of the tissue.
The grant supports a three-year study led by Dr. Hans S.
Keirstead, President of NeoStem Oncology, and Dr. Magdalene J.
Seiler, Project Scientist V at the University of California, Irvine
and its Sue & Bill Gross Stem Cell Research Center.
"This study exemplifies our commitment to utilizing non-dilutive
funding sources for discovery programs exploring application of our
technologies in other indications. A self-sustaining development
pipeline depends on the generation of new development programs that
are reasonable in terms of size of opportunity and clinical
investment," said Dr. David J. Mazzo, Chief Executive Officer of
NeoStem.
In the first year of the study, NeoStem fulfilled its primary
goal of reproducibly generating retinal pigment epithelium (RPE)
and layered retinal progenitor tissue, which include progenitors of
the major retinal cell types including photoreceptors. This success
enables the rest of the study, which will focus on transplantation
and testing of these tissues in rodent models of retinal
degeneration.
Approximately 11 million people in the United States have some
form of age-related macular degeneration. This number is expected
to double to nearly 22 million by 2050. Estimates of the global
cost of visual impairment due to age-related macular degeneration
is $343 billion, including $255 billion in direct health care
costs.
About NeoStem, Inc.
NeoStem is a biopharmaceutical company pursuing the preservation
and enhancement of human health globally through the development of
novel cell based personalized medicine therapeutics that prevent,
treat or cure disease. The Company is developing therapies based on
three platform technologies (immune-oncology, ischemic repair and
immunomodulation) with a lead, late-stage clinical program for
each. The combination of a rich therapeutics pipeline and an
externally recognized in-house center for cell therapy process
development and manufacturing has created an organization with
unique capabilities for accelerated and efficient product
development. www.neostem.com
About the University of California, Irvine
Founded in 1965, UCI is the youngest member of the prestigious
Association of American Universities. The campus has produced three
Nobel laureates and is known for its academic achievement, premier
research, innovation and anteater mascot. Led by Chancellor Howard
Gillman, UCI has more than 30,000 students and offers 192 degree
programs. Located in one of the world's safest and most
economically vibrant communities, it's Orange County's
second-largest employer, contributing $4.8 billion annually to the
local economy. The Sue & Bill Gross Stem Cell Research Center
unifies and strengthens the campus's fast-growing stem cell biology
program and serves as a hub for research in Southern California.
www.uci.edu
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Forward-looking statements include
statements herein with respect to the successful execution of the
Company's business strategy, the Company's ability to develop and
grow its business, the successful development of cellular therapies
with respect to the Company's research and development and clinical
evaluation efforts in connection with the Company's Targeted
Immunotherapy Program, Ischemic Repair Program, Immune Modulation
Program and other cell therapies, the future of the regenerative
medicine industry and the role of stem cells and cellular therapy
in that industry, and the performance and planned expansion of the
Company's contract development and manufacturing business as well
as its efforts to expand its capabilities into the cell therapy
tools market. The Company's actual results could differ materially
from those anticipated in these forward-looking statements as a
result of various factors. Factors that could cause future results
to materially differ from the recent results or those projected in
forward-looking statements include the "Risk Factors" described in
the Company's Annual Report on Form 10-K filed with the Securities
and Exchange Commission ("SEC") on March 2, 2015, and in the
Company's other periodic filings with the SEC. The Company's
further development is highly dependent on future medical and
research developments and market acceptance, which is outside of
its control.
CONTACT: NeoStem, Inc.
Eric Powers
Manager of Communications and Marketing
Phone: +1-212-584-4173
Email: epowers@neostem.com
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