Athersys secures grants to advance MultiStem
Athersys has been awarded a total of $3.6m in grant including a SBIR Fast-Track grant of up to $1.9m from the National Institute of Neurological Disorders and Stroke (NINDS).
The grants will help the company to further advance its MultiStem product programs and cell therapy platform.
MultiStem cell therapy is a patented product that has shown the potential for the treatment of inflammatory and immune disorders, neurological conditions, and cardiovascular disease.
In addition, Athersys' subsidiary ReGenesys was awarded a $1.2m grant from the Belgium's Agency for Innovation by Science and Technology (IWT) to further develop cell therapy formulations and manufacturing capabilities.
Athersys chairman and CEO Gil Van Bokkelen said the grant awards provide them with additional funding to support further development of MultiStem in specific therapeutic areas, as well as enhance its manufacturing platform.
"Based on the results from studies conducted with our collaborators, we believe MultiStem could have a significant impact in treating damage from acute neurological injury, such as TBI, ischemic stroke and other indications," Bokkelen added.
The NINDS grant is intended to develop MultiStem for the treatment of traumatic brain injury (TBI).
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