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
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.
California Stem Cell, Inc