Asterias Biotherapeutics Reports Second Quarter Financial Results And Reviews Recent Clinical Progress And Corporate Developments

FREMONT, Calif., Aug. 14, 2017 (GLOBE NEWSWIRE) -- Asterias Biotherapeutics, Inc. (NYSE MKT:AST), a biotechnology company pioneering the field of regenerative medicine, today reported financial and operational results for the quarter ended June 30, 2017, as well as recent corporate progress.

“We made significant progress during the second quarter and in recent months in our two lead development programs: our AST-OPC1 program in spinal cord injury and our AST-VAC2 cancer immunotherapy program in non-small cell lung cancer,” said Mike Mulroy, President and Chief Executive Officer of Asterias. “We reported encouraging data from our SCiStar study that shows meaningful improvements in arm, hand, and finger function in patients with severe cervical spinal cord injuries. Importantly, these improvements have been sustained—and in some cases further improved—at nine months following administration of AST-OPC1. In our cancer immunotherapy program, we recently completed a major step toward advancing AST-VAC2 into the clinic. In particular, together with our research partner Cancer Research UK, we successfully completed the production of the first cGMP clinical grade lot of AST-VAC2. This lot of AST-VAC2 provides the initial clinical trial material for patients enrolling in the upcoming clinical study evaluating AST-VAC2 in non-small cell lung cancer. Lastly, we continue to be mindful of our cost structure as we advance our programs and make adjustments to our operating expenses where appropriate.”

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