Athersys, Inc. Awarded $3.6 Million in Grant Funding for Stem Cell Product Development
2/1/2012 9:20:03 AM
CLEVELAND, Ohio, Feb. 1, 2012 (GLOBE NEWSWIRE) -- Athersys, Inc. (Nasdaq:ATHX), a leader in the emerging field of regenerative medicine, announced today grant funding aggregating $3.6 million to further advance its MultiStem® product programs and cell therapy platform. Specifically, Athersys was awarded a SBIR Fast-Track grant of up to $1.9 million from the National Institute of Neurological Disorders and Stroke (NINDS) to develop MultiStem for the treatment of traumatic brain injury (TBI). In addition, Athersys' subsidiary based in Belgium, ReGenesys BVBA, was awarded a $1.2 million (€0.9 million) grant from the Belgium's Agency for Innovation by Science and Technology (IWT) to further develop cell therapy formulations and manufacturing capabilities. The company has also been awarded funding recently to work in other areas, such as using MultiStem to treat chronic cardiovascular disease.
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