StemCells closes $10M debt financing StemCells announced that it has closed a $10M debt financing from Silicon Valley Bank. The loan funds will be used for general corporate purposes, and increase the Company's December 31 pro forma cash balance to $34.4M. This total also includes $2M in net proceeds received subsequent to the end of the year from the exercise of warrants and the sale of shares of common stock.
StemCells transplants first patient in clinical trial for macular degeneration StemCells announced that it has completed transplantation of the first subject in its Radiant Study at the Retina Foundation of the Southwest. The Phase II trial is designed to evaluate both the safety and efficacy of the company's proprietary HuCNS-SC platform technology for the treatment of geographic atrophy, the most advanced form of dry age-related macular degeneration