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April 11, 2013
09:08 EDTSTEMStemCells enters agreement to receive $19.3M from CIRM for HuCNS-SC
StemCells announced that it has entered into an agreement with the California Institute for Regenerative Medicine, or CIRM, under which CIRM will provide approximately $19.3M to help fund preclinical development and IND-enabling activities of the company's proprietary HuCNS-SC product candidate for Alzheimer's disease. The funding, which will be in the form of a forgivable loan, was awarded under CIRM's Disease Team Therapy Development Award program in September 2012. The goal of the research will be to file an Investigational New Drug application with the FDA within four years.
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