Healthcare Industry News: spinal muscular atrophy
News Release - December 21, 2009
California Stem Cell, Inc Closes Series B Financing RoundInvestment to Enable Advancement of Therapeutic and Commercial Aims
IRVINE, Calif.--(HSMN NewsFeed)--California Stem Cell, Inc. (CSC), a leading stem cell company, announced that it has completed a Series B financing round with private investors. The financing will enable the company to support the advancement of its therapeutic products to human clinical trials, as well as the generation and distribution of its tools to aid in stem cell research and drug discovery.
CSC is a privately held company developing proprietary therapeutic products to treat several neurodegenerative diseases, as well as innovative stem cell-based human cell products to facilitate research and conventional drug discovery. Its lead therapeutic candidate, MOTORGRAFT™, is a stem cell-derived motor neuron replacement for the treatment of spinal muscular atrophy (SMA), a genetic disorder that causes the deterioration of the muscles that control crawling, walking, swallowing and breathing and for which there is no current treatment.
CSC has completed pre-clinical GLP safety and efficacy studies to support filing of an Investigational New Drug Application (IND) for the treatment of SMA. MOTORGRAFT TM was recently granted orphan drug designation and the company held a Pre-IND meeting with the FDA last October. CSC anticipates a Phase I safety study to begin in 2010.
“The ability to raise money in this difficult economic environment is a testament to the significant progress we’ve made the last year in advancing our clinical development programs and developing innovative new research tools. Backed by excellent science and a strong management team, CSC has the momentum, vision, technology and now capital to advance its cell-based therapies and bring its innovative products to the market,” stated Chris Airriess, CSC’s Chief Operating Officer.
About California Stem Cell, Inc (www.californiastemcell.com): California Stem Cell, Inc is a privately held company focused on the manufacture of high-purity human cells for drug development and clinical application. Since its founding in 2005, CSC has developed and has intellectual property surrounding methods for scalable production of human motor neurons, neuronal progenitors, and cardiomyocyte progenitors cells at its Irvine, California facility. CSC is currently in the pre-clinical development stage of stem cell-derived therapies for spinal muscular atrophy (SMA), ALS and spinal cord injury.
Source: California Stem Cell
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