CIRM awards $63.1M for stem cell projects

The California Institute for Regenerative Medicine (CIRM) awarded $63.1 million in grants across four stem cell therapy projects, including one from StemCells Inc. (NASDAQ:STEM) to evaluate its HuCNS-SC purified human neural stem cells to treat Alzheimer's disease. StemCells will receive up to $20 million over four years to conduct preclinical testing and submit an IND within the time frame. StemCells was off $0.01 to $2.13 on Thursday. The cells are in Phase I/II testing to treat thoracic spinal cord injury and dry age-related macular degeneration (AMD), and are in Phase I testing to treat Pelizaeus-Merzbacher Disease (PMD). In July, CIRM awarded StemCells up to $20 million to evaluate the cells to treat cervical spinal cord injury, for which they are in preclinical development (see BioCentury Extra, July 27). ...